The surge arrester market provides critical overvoltage protection solutions for electric power systems and equipment against surges from direct or indirect lightning strikes and faults on the electric power network. Surge arresters are installed on overhead power lines and at vulnerable points in transmission and distribution systems. They ensure smooth power transmission and distribution by limiting transient overvoltages below the equipment withstand levels, preventing equipment failure or damage.

The surge arrester market is estimated to be valued at USD 1.85 Bn in 2024 and is expected to reach USD 2.73 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.72% from 2024 to 2031.

Key players operating in the surge arrester market include ABB Ltd., Siemens AG, Eaton Corporation, Emerson Electric, Schneider Electric, Mitsubishi Electric Corporation, General Electric, Crompton Greaves, Legrand S.A. and Raycap Corporation. These players focus on developing innovative surge protection solutions through continuous R&D investments to gain a competitive edge in the market.

The  Surge Arrester Market  is driven by increasing investments in modernization of aging power infrastructure and expansion of transmission and distribution networks across regions to ensure reliability and quality of power supply. Rapid urbanization and industrialization have fueled the rising electricity demand while boosting the need for robust grids and reliable power infrastructure. Furthermore, supportive government policies and investments in smart grid technologies have accelerated the adoption of surge protection equipment.

Growing demand for electricity from industrial and commercial sectors along with increasing green energy integration is propelling grid expansion activities globally. This is anticipated to drive the demand for various surge arresters over the forecast period. Additionally, surge arresters find increasing usage in medium voltage industrial applications such as manufacturing plants, data centers and cold storage facilities to shield sensitive equipment from overvoltage surges.

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