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Global Surge Arresters Market was valued at US$1.7 bn in 2014,
growing at a CAGR of 5.1% from 2015 to 2021 to account for US$2.4 bn
in 2021.
The market of surge arresters in primarily being driven due to the
changing lifestyle of the working population, and the increasing
disposable income, which is creating a need for automated electronic
products to reduce their household works. This in return is creating
a demand for protecting these devices from voltage fluctuations. This
need is fueling the growth for surge arresters market. Furthermore,
the growing awareness for need of renewable energy sources is also
acting as a driver for the market. Emerging nations such as India and
China is witnessing the development of power plants which will be
generating energy by using renewable sources of energy such as sun,
water and wind. This factor is creating the need for surge arresters
in order to protect the heavy machineries from damages caused due to
voltage overflow and fluctuations. In addition, the commercial sector
is also witnessing the growth in electronic devices in order to
reduce the manpower. However, the introduction of electronic devices
is also increasing the maintenance costs due to electrical damages of
the devices such as short circuit. This is in return spurring the
growth of surge arresters in the commercial sector.
However, the installation of surge arresters involves high cost which
is restraining the market from growth. In addition, the type of surge
arresters vary from one device to another depending on the voltage
ranges. These factors are hindering the growth of surge arresters. By
types, the high voltage surge arresters are dominating the market as
they are mainly used to protecting the heavy machineries and
equipments in several industries.
Global Surge Arresters Market: By Voltage Types
> Low voltage surge arresters
> Medium voltage surge arresters
> High voltage surge arresters
The high voltage surge arresters held the maximum market share of
45.3%. The dominance of this segment is attributed to the ongoing
industrialization in emerging economies such as India and China. In
addition, the industrial machineries and equipment needs to be
protected from severe damages caused due to voltage fluctuations.
This factor is creating the demand for high voltage surge arresters
in the market.
Get free Sample Research Report of Surge Arresters Market at:
North America had the largest market share of more than 30% in the
surge arresters market in 2014. The dominance of this region is due
to the fact that this region includes the U.S. which has the highest
application of surge arresters in every application area. Moreover,
they are the early adapters of this technology. In addition, the
region also has the presence of major manufacturers of surge
arresters such as Eaton Corporation, Emerson Electric and General
Electric among others. However, Asia Pacific region has been
anticipated to be the fastest growing region during the forecast
period.
The key players profiled in the surge arresters market include,
Siemens AG, ABB Ltd, Emerson Electric, Eaton Corporation Plc,
Schneider Electric S.E., Mitsubishi Electric Corporation, Raycap
Corporation and Crompton Greaves among others.
In order to get a better understanding of the surge arresters market,
we have included a key trend analysis for all the segments.
Furthermore, the market attractiveness of the application segments
has also been provided in order to anticipate the market for better
decision making. In addition, the market share of the key industry
players has also been discussed in terms of the market revenue held
by them globally.
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