Surge Arrester Market Size, Business Operation Data, Study with focus on Company Profile | Industry Top Manufactures Analysis and Opportunity Assessment 2018-2023

Market Highlights:-

The main drivers of the market are increased demand for electrical appliances, deployment of electrical equipment’s, boost in power generation, and replacement of existing infrastructure of power with new one. North America accounts the highest share in the global surge arrester market  followed by China, which is the fastest growing market. Technological advancements in the sector is another reason for growth in this market.

Technology wise, the surge arrester market is improving each day, because companies such as siemens are immensely working on application-based development so that the outcome would be prominent, effective, and efficient. The demand for surge arrester in locomotive sector is growing. For example, metal oxide surge arresters are being replaced gradually with the silicon carbide type because of high degree of reliability and better performance. Additionally, new developments have been made in terms of distribution range. The porcelain type is being replaced with the polymeric ones for the protection of basic mechanical characteristics and prevention of lightning faults. Various government bodies are being involved in research and development, innovation of technologies, improvement of testing techniques and setting new standards.

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Top Key Players:-

The major key player in global surge arrester markets are Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.), etc.

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Bargaining Power Of Suppliers

3.1.4 Threat Of Substitutes

3.1.5 Segment Rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

To be continued..

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Global Surge Arrester Market Analysis:-

Global surge arrester market  is mainly driven by the changing preferences of the working population, driving the need for automation and digitalization. Furthermore, the renewable sector is also acting as a driver for this market. Countries such as China and India in the Asia Pacific region witness the developments of various power plants for the generation of energy by renewable sources such as tidal, wind, and solar. This reason is one of the main drivers of the surge arrester market in Asia Pacific with a CAGR of 5.1% during the forecast period.

Based on regions, North America and Asia Pacific together account for more than ~15.0%  share of the total in application-based surge arresters, globally, due to expressive infrastructure development in the power sector. Countries like China and India from Asia Pacific region have new projects to develop and  still have potential to reach at the surge.

Based on applications, the global surge arrester market is segmented into industrial, commercial and residential. Among them, revenue generation from commercial sector is projected to expand at a CAGR of approx. 8.50% during the forecast period.