The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Surge Arrester Market.

Surge Arrester Market is likely to witness an impressive CAGR of 6.0% during the forecast period. Growing electricity demand, large-scale renewable integration, refurbishment of existing grid networks, and increasing electric infrastructure spending are some of the major factors expected to drive the market growth over the forecast period.

Segment Analysis:

Based on the voltage type, the market is segmented as low, medium, and high. Low voltage is estimated to witness significant growth in the market during the forecast period owing to the growing electrification of rural areas across the developing economies coupled with rapid expansion of residential establishments. On the other hand, medium voltage is also estimated to register significant growth in the market during the forecast period owing to rapid industrialization on account of economic diversification.

Based on the class type, the market is segmented as distribution, intermediate, and station. Distribution class is estimated to witness high growth in the market during the forecast period on account of superior overvoltage protection provided by it. Further, station class is also estimated to account for a significant share of the market owing to various lucrative features, such as high-pressure relief capability, superior performance to resist contamination, high durability, and excellent cantilever strength offered by it.

Based on the material type, the market is segmented as polymer and porcelain. The polymer material is estimated to register high growth rate in the market during the forecast period. The growth of the segment is attributed to its extensive suitability across distinct voltage ranges and features, such as easy handling & installation, low manufacturing & operational cost, and reliable performance in harsh environments. Further, porcelain is also estimated to witness significant growth in the market owing to its capability to be self-supporting and resist environmental aging.

Based on the application type, the market is segmented as residential & commercial, industrial, and utility. The industrial segment is estimated to account for the major share of the market on account of growing focus toward mitigating power quality issues across the industrialized economies, fueling the overall industry growth during the forecast period.

In terms of regions, Europe is estimated to be the leading region in the market during the forecast period owing to growing investments by the government imposing stringent regulations to modernize smart grid infrastructures. In addition, in North America, the U.S. is estimated to account for significant share of the market on account of increasing investments by utilities toward capital additions coupled with increasing security compliance standards, fueling the regional market growth. Moreover, Asia-Pacific is also estimated to offer substantial growth opportunities over the forecast period.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

Based on the research, a proper report is crafted with the following key features:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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