The global surge arrester market size was valued at USD 1.75 billion in 2023 and is anticipated to reach around USD 2.91 billion by 2033, growing at a CAGR of 5.23% from 2024 to 2033. The rising demand for enhanced protection systems for smart electronic appliances and the rising demand for electronic applications are driving the growth of the market.
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The Asia Pacific surge arrester market size reached USD 600 million in 2023 and is predicted to be worth around USD 1,000 million by 2033, at a CAGR of 5.23% from 2024 to 2033.
Asia Pacific led the surge arrester market with the largest market share in 2023. The growth of the market is owing to the rising population and the increasing demand for electricity. The rising industrialization across the region is anticipated by the rising demand for the improved quality of electricity distribution and transmission system that accelerated the growth of the market. Additionally, the rise in the real-estate infrastructure is directly contributing to the higher demand for the electric transmission system that drives the growth of the market in the region.
North America is expected to witness the fastest growth in the surge arrester market during the forecast period. A well-established network of industries is the main factor for the market’s growth in the region. The rising investment in industrialization and commercialization are driving the demand for the improved electricity distribution and transmission system that propel the growth of the market. The rising demand for the new installation of the electricity distribution and transmission system with the existing one drives the demand for the market in the region. Additionally, the technological evolution in the electronics sector is driving the expansion of the surge arrester market in the region.
The North America surge arrester market size was estimated at USD 1.75 billion in 2023 and is expected to cross around USD 2.91 billion by 2033 with a notable CAGR of 5.23% from 2024 to 2033.
| Year | Market Size (USD Million) |
| 2023 | 510 |
| 2024 | 530 |
| 2025 | 560 |
| 2026 | 590 |
| 2027 | 620 |
| 2028 | 660 |
| 2029 | 690 |
| 2030 | 730 |
| 2031 | 760 |
| 2032 | 800 |
| 2033 | 860 |
Surge arrester is also known as the surge protection devices that comes in the category of the protection devices in the distribution and the transmission domains. Surge arrester is one of the crucial components in the electrical circuits that provides the protection to the electronic appliances against the high voltage transient that products due to internal or natural activities. Surge arrester works with the minimal impulse ratio that at the time of the surge of fluctuation in the electricity it can directly passed it on the ground rather than the passing in the equipment. The rising urbanization is driving the development on the industrial and residential infrastructure that drives the demand for the electronic applications which boosts the growth of the surge arrester market.
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 5.23% |
| Global Market Size in 2023 | USD 1.75 Billion |
| Global Market Size in 2024 | USD 1.75 Billion |
| Global Market Size by 2033 | USD 2.91 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Voltage, By Class, By Material, and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver: Rising demand for electronic applications
The adoption of electronic applications for the commercial, residential, and industrial sector are driving the demand for the surge arrester. The rise in the development of smart homes in the residential projects is driving the demand for surge arrester for safeguarding the interconnected home electronics against the power fluctuation and surges. Smart home includes the technological advanced electronic components like smart appliances, smart lighting, smart switches, etc. are comes with an advanced electronic system.
Smart electronic appliances come with electronic circuits which are more sensitive and easily harmed by the surge in the electricity. Surge arrester devices can protect the power surges by the lighting strike, power restoration after blackouts, power company switching, automobile accidents involving power lines and transformers, and internal system surges. The surge arrester is generally installed in the service entrance location. Thus, the rising acceptance of smart home designs is driving the expansion of the surge arrester market.
Restraint: Competition from alternatives
The surge arrester market faces competition from alternative technologies and approaches for mitigating transient overvoltages, such as voltage regulators, isolation transformers, and active power conditioning systems. End-users may opt for alternative solutions based on factors such as cost-effectiveness, performance, reliability, and ease of implementation. Competition from alternative technologies poses a challenge for surge arrester manufacturers seeking to differentiate their products and capture market share.
Opportunity: The rising emphasis on renewable energy
The rising investments in the development of renewable energy due to the rising awareness about the conventional sources of energy and the rising environmental pollution due to the excessive carbon emission. Shifting preference to green energy due to the rapid fall in the prices of installation of green energy due to the rising technological advancements is observed to support the market‘s expansion. The rising government initiative for the adoption of green energy by providing significant subsidies in the installation process also boosts the growth of renewable energy. The surge in the installation of the renewable energy projects, the surge arrester is installed in the point of connection at the substation. The rising adaptation of the renewable energy projects in the industrial as well as in residential application are driving the opportunity in the growth of the surge arrester market.
The medium voltage surge arrester segment dominated the market with the largest share in 2023. The growth of the segment is attributed to the rising adoption of the medium voltage surge arrester in the industrial applications. The increasing urbanization is driving the demand for industrialization and commercial infrastructure. The rise in infrastructural activities is driving the demand for high voltage electronic equipment. The rising development of renewable energy in the developing economies are driving the demand for the medium voltage surge arrester. Thus, the rising industrial and commercial infrastructure results in the higher demand for trustworthy distribution networks that contributed to the expansion of the medium voltage surge arrester segment.
The distribution surge arrester segment projected the largest share in the market in 2023. The distribution class arresters are used in both heavy duty and normal-duty electronic applications. This class of arrester is designed to protect electronic equipment with the voltage rating between 1kV to 33kV. The distribution class arresters can be found on applications like rotating terminals machines below 1000 kVA with the availability of proper voltage ratings. The distribution class arresters provide enhanced security for the different equipment of the industries. Thus, the rising industrialization is driving the segment’s expansion.
The polymer segment dominated the surge arrester market in 2023. The growth of the segment is owing to the ease of handling and installation as compared to the porcelain. The polymers are widely adopted by the several voltage ranges. Polymer surge arrester covers the voltage ratings from 3kV to 228kV. The higher adoption of the polymer surge arrester is due to its exceptional properties that easy handling of heat from the metal oxide element to the environment outside. The higher heat handling ability, high energy, lower protective level, and improved temporary over voltage (TOV) capability of the polymer material are driving the demand for the polymer surge arrester.
The porcelain segment is expected to see substantial growth in the surge arrester market during the forecast period. The growth of the segment is attributed to the resistance against environment, and self-sustaining. The porcelain segment covers the voltage range from 3kV to 420kV. Increased mechanical strength, and low raw material costs are driving the demand for the porcelain surge arrester.
The residential and commercial segment dominated the surge arrestor market in 2023. The rising residential and commercial infrastructure in the economically developing countries are driving the demand for electricity and electronic applications. The rising use of smart electronic applications in the commercial and residential sector drives the demand for the surge arrester for maintaining the fluctuation in the power and enhanced the distribution and transmission of the electricity.
Moreover, the rising population and the increasing demand for residential projects in the urban areas are driving the growth of the residential and commercial sectors. Additionally, the modernization results in the increased demand for smart homes that further boosts the growth of the market.
Segments Covered in the Report
By Voltage
By Class
By Material
By Application
By Geography
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