The surge arresters are used to protect the electronic devices and machineries from damages caused due to sudden voltage surges. The market has been analyzed to reach USD 2.4 billion in 2021 growing at a CAGR of 5.1%. The increasing demand for electronic appliances in household is acting as a driver for the market.
Albany, NY -- (SBWIRE) -- 01/04/2016 -- Surge arresters are used to protect electronic appliances and machineries from damages caused due to sudden voltage surges. The surge arresters are attached on the conductors just before it enters the electrical equipments. The market is expected to grow during the forecast period due to the increasing demand for electronic appliances in households across the globe.
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.
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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.
The global surge arresters market report has been analyzed and estimated in terms of revenue (USD Million) from 2015 to 2021. In addition, we have covered the drivers and the restraints effecting surge arresters market and its impact over the forecast period. Furthermore, the opportunities affecting the market have also been discussed.
The surge arresters market has been segmented into three parts: by voltage types, by application and by regions. By voltage types, the market has been categorized into low voltage surge arresters, medium voltage surge arresters and high voltage surge arresters. In terms of application, the market has been divided into industrial applications, commercial applications and household applications. Furthermore, the market has been segregated geographically into four regions: North America, Europe, Asia Pacific and Rest of the world. All these segments have been analyzed in terms of global revenue (USD Million).
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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Furthermore, the report also includes the company profiles of the key players on the basis of their company overview, the recent developments pertaining to surge arresters, the financial overview, the historical milestones and the business strategies adopted by the various players. 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.
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