Surge Arrester Market Size By Voltage (Low, Medium, High), By Class (Distribution, Intermediate, Station), By Material (Polymer, Porcelain), By Application (Residential & Commercial, Industrial, Utility), Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, UK, Germany, France, Italy, Austria, Spain, Netherlands, Denmark, Finland, Sweden, Norway, Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Azerbaijan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Israel, Jordan, Lebanon, Brazil, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019-2025
Enhanced government efforts to combat power failure events coupled with rising need for the modernization of existing infrastructure will augment the surge arrester market. In 2018, the U.S. congress planned to organize medium to long term grid evaluation that will emphasize on the advent of new technologies, grid architecture and operating & planning techniques to revamp the existing grid infrastructure. Moreover, expansion of transmission & distribution networks to meet the electricity demand from rapidly growing population will propel the product demand.
High voltage surge arrester market is set to witness growth of over 6% by 2025. Increasing adoption of these systems in HVDC lines across the emerging economies will stimulate the product penetration. In 2017, India announced plans to construct 800 kV HVDC transmission line, that will hold the capacity to supply electric power to around 80 million people. Growing measures for the protection of T&D systems from voltage fluctuations along with enhanced adoption of Flexible Alternating Current Transmission Systems (FACTS) to improve the availability & reliability of line networks will positively impact the business scenario.
U.S. surge arrester market will witness growth on account of enhanced efforts toward power capacity expansion to meet the increasing electricity demand. In addition, extensive upgradation of power substation to improve the electrical reliability along with growing focus to develop efficient electrification systems to mitigate the flashovers will positively influence the industry growth. For instance, in 2017, a substation stricken by equipment failure led to a huge power outage in San Francisco, left around 90,000 electricity consumers without power. Increasing number of transformer failure instances on account of various lightning & internal switching events will stimulate the demand for proper power protection systems, thereby driving the industry outlook.
Increasing regulatory pressure toward the adoption of energy efficient systems along with rising focus of utilities to refurbish the aging transmission and distribution infrastructure will boost the surge arrester market. For instance, in 2017, an investment of USD 21.9 billion was made by the Edison Electric Institute toward improving the safety & efficiency of transmission infrastructure.
Ability to offer reliable and cost effective protection of medium voltage electrical equipment against over voltages will drive the intermediate surge arrester market growth. In addition, proven suitability & operability in URD cables, dry type transformers, and sectionalizing & switching equipment will further fuel the product demand.
Polymer surge arrester market in 2018 was over USD 600 million. Ability to endure high environmental stresses along with applicability of these systems in distinct voltage ranges owing to their high mechanical strength, easy installation & handling will complement the industry landscape.
Key industry players across the surge arrester market consist of Schneider Electric, ABB, General Electric, Hubbell power systems, Eaton, Siemens, CG Power, TE connectivity, Elpro, DEHN and Lamco amongst others.
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