ABB (Switzerland) and Siemens Energy (Germany) are the Key Players in the Surge Arrester Market
The global surge arrester market is projected to reach USD 1.9 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 4.9% during the forecast period. The rising demand for electricity in APAC and the growing focus of on increasing renewable energy installed capacity are encouraging utilities to invest in the electricity transmission and distribution networks, as well as in electrification projects. These investments along with investments to replace aging electric infrastructure in North America and Europe are expected to create the demand for surge arrester market.
A few major players with large global presence dominate the surge arrester market along with a large number of local players. The leading players in the surge arrester market include Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), and Hubbell (US).
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These players major strategies include contracts & agreements, product launches, investments & expansions, and mergers & acquisitions. Contracts & and agreements is the most commonly adopted strategy from January 2017 to November 2020.
Hitachi ABB Power Grids was formed after the divestment of ABB’s Power Grids business division to Hitachi in 2020. The deal was announced in 2018 and completed in mid-2020. Hitachi holds 80.1% of the total stake in Hitachi ABB Power Grids, with the remaining 19.9% currently owned by ABB. The company now offers products and services through 4 of its business units, namely, Grid Automation, Grid Integration, High Voltage Products, and Transformers. Prior to the divestment, the Power Grids business division accounted for more than a quarter of total ABB’s revenue. The company offers a wide range of products and solutions for utilities and industries across the world. Some of the major products offered include transformers, instrument transformers, switchgear, substations, energy storage devices, SCADA, HVDC, disconnectors, and surge arresters. The company offers surge arresters from MV to EHV and for special applications, such as railways and DC voltage-limiting devices. Hitachi ABB benefits from the significant market share of both Hitachi and ABB in the global electrical equipment industry. Both Hitachi and ABB have a long operational history of offering products and solutions to utility, industrial, and transportation end users globally. The newly formed company can leverage the combined operational experience and technical expertise of both companies to further strengthen its position in the surge arrester market.
Siemens Energy is one of the global leaders in offering products and solutions across the energy and power value chain. The new company was founded in 2020 after Siemens spun off its Gas and Power business and combined it with the Siemens Gamesa Renewable Energy business segment. The newly independent company is listed on the Frankfurt Stock Exchange. The company conducts its business through 2 segments, namely, Gas and Power and Siemens Gamesa Renewable Energy. The Gas and Power business segment conducts business in 3 major segments, namely, Generation, Transmission, and Industrial Applications. The Transmission segment under the Gas and Power business unit provides surge arresters for a wide range of voltages, mainly for utilities, industries, and transportation sector end-users. The transmission products offered by Siemens Energy includes power transformers, distribution and traction transformers, gas, insulated switchgear, air-insulated switchgear, instrument transformers, bushings, and surge arresters. The company has an operational presence in over 90 countries, with manufacturing facilities spread across the world. This allows the company to manufacture products locally and avoid large lead times, as well as tailor products as per local standards.
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