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Surge Arrester Market Size, Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2025

Author : Rahul Sankrityayan | Published Date : 2020-10-26 

Grid improvement initiatives fall among some of the most primary ones responsible for increasing the demand for surge arresters. The recently proposed multi-year, customer relief investment plan by Baltimore Gas and Electric (BGE) filed with the Maryland Public Service Commission is one such initiative that is likely to help propel this market. This initiative, a systematic three-year plan from 2021 through 2023, is backed by an investment of USD 5 billion and is basically aimed at improving electric and natural gas systems.

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  • Pages: 560
  • Tables: 1170
  • Charts / Figures: 31
  • Companies covered: 19
  • Countries covered: 53

With massive investments being poured in grid enhancements, the demand for components such as surge arresters is expected to take a turn for the better. Surge arresters are basically protective devices that help to limit voltage on an equipment by means of discharging surge current. However, surge arresters do not absorb or stop lightning, they merely divert the lightning, minimize the voltage, thereby protecting the equipment installed. Consequently, the application scope of these products traverses a widespread array – they are used extensively across the electrical industry, right from circuit breakers in residential establishments to pole-mounted transformers, inside pad-mounted transformers, to substations.

Changes in the electrical landscape alongside technological advancements in power products are expected to have a massive impact on the growth graph of surge arrester market. In the following paragraphs, a gist of the latest trends driving the scope of this industry has been given:

Increasing power demand in emerging nations to augment high voltage surge arrester market share

High voltage surge arresters, in recent times, are being extensively adopted across HVDC lines, especially in the developing economies. A few years back, in 2017, India declared that it plans to construct an 800 kV HVDC transmission line with sufficient capacity to supply electricity to around 80 million people. As the number of initiatives to protect T&D systems from voltage fluctuations increases, the demand for high voltage arresters will witness an increase as well.

Additionally, many countries are now adopting Flexible Alternating Current Transmission Systems (FACTS) so as to enhance the reliability and availability of line networks. Estimates claim high voltage surge arrester market size to grow at a decent CAGR of 6% through 2025.

Stringent regulations and government initiatives to define surge arrester industry trends

In recent times, regulations pertaining to the installation of power systems and other electrical equipment have become increasingly stringent owing to the necessity for energy efficiency. This has led utilities to focus more on refurbishing the aging T&D infrastructure, which will boost surge arrester market outlook. Governments across the globe have been undertaking numerous efforts to better electricity infrastructure. For example, the Edison Electric Institute, in 2017, invested around USD 21.9 billion in order to improve the safety & efficiency of T&D infrastructure.

A few years earlier, the U.S. Department of Energy declared a funding of USD 220 million from numerous national labs in order to improve the nation’s power grid and make it cleaner and more productive. The U.S. government, as a matter of fact, has already acknowledged the issue of old infrastructure and has been working consistently to resolve the same, by investing in large-scale grid modernization programs.

Polymer materials to gain immense traction

Polymer is one of the most sought-after materials for surge arrester production, as it works well across myriad voltage ranges. The material has the ability to put up with extreme environmental stress. Additionally, it has excellent mechanical strength and its feature of convenient installation and handling has also been pushing its demand in surge arrester market.

Estimates claim polymer surge arrester industry size to have registered more than USD 600 million in 2018.

U.S. to emerge as the hotspot for surge arrester sales

U.S. is anticipated to crop up as a pivotal revenue pocket for surge arrester industry, primarily on account of the increased efforts by the government and private sector toward raising power capacity to make electricity equally available to one and all. The regional authorities have also been taking efforts to upgrade power substations so as to enhance power reliability. Additionally, efforts are being undertaken to develop highly efficient electrification systems in order to mitigate flashovers, further increasing the demand for surge arresters.

Rising incidences of transformer and equipment failures will also increase the demand for surge arresters. For example, in San Francisco, in the year 2017, a substation, triggered by equipment failure, led to a massive power outage, where more than 90,000 people had no access to electricity. These events have fostered an increasing demand for efficient power protection systems, which will boost U.S. surge arrester market share.

In the years ahead, surge arrester industry size will be characterized by the ability to offer cost-efficient protection of medium voltage electrical equipment as opposed to over voltages. Also, with proven operability in sectionalizing & switching equipment, the demand for surge arresters will witness an exponential curve.

Partial Table of Contents (ToC) of the report:

Chapter 5    Surge Arrester Market, By Class

5.1    Surge arrester market share by class, 2018 & 2025

5.2    Distribution

5.2.1    Global market from distribution, 2014 – 2025

5.2.2    Global market from distribution, by region, 2014 - 2025

5.3    Intermediate

5.3.1    Global market from intermediate, 2014 – 2025

5.3.2    Global market from intermediate, by region, 2014 - 2025

5.4    Station

5.4.1    Global market from station, 2014 – 2025

5.4.2    Global market from station, by region, 2014 - 2025

Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/surge-arresters-market

Browse Related Report :

Surge Arrester Market value to hit $2 billion by 2025: Global Market Insights, Inc.

Surge Arrester Market 2020 - By Voltage, Material and Regional Forecast to 2024

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. [email protected] | https://twitter.com/sankritsays

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