Surge arresters are devices that protect electrical equipment and appliances from voltage surges. They are installed along power transmission and distribution lines to provide protection from over-voltages caused due to factors such as lightning strikes, switching operations, and cable faults. Surge arresters find wide application in industries, commercial buildings, residential premises, and power distribution facilities to limit transient over-voltages and safeguard critical equipment. The global market for Surge Arrester Market has been gaining strong momentum due to rapid urbanization and increasing investments towards upgrading aging power infrastructure worldwide.

The Global Surge Arrester Market is estimated to be valued at US$ 3.2 billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024-2031.

Key Takeaways
Key players operating in the Surge Arrester market are ABB Ltd., Siemens AG, Eaton Corporation, Emerson Electric, Schneider Electric, Mitsubishi Electric Corporation, General Electric, Crompton Greaves, and Raycap Corporation.

Surge arrester demand is being driven by the growing need for reliable power transmission systems amid increasing power consumption globally. Power utilities are continuously upgrading and expanding T&D networks to ensure uninterrupted supply and meet escalating energy demands, which is fueling the sales of surge arresters.

Technological advancements are also playing a key role in market growth. Switching from conventional zinc oxide-based surge arresters to modern polymer-based arresters is gaining traction due to benefits such as lower maintenance needs, longer service life, and better insulation. Advanced arresters with self-healing and monitoring capabilities are further enhancing grid reliability.

Market Trends
One of the key trends gaining momentum is the rising adoption of surge arresters with ratings between 15kV to 170kV to protect transmission lines from direct and indirect lightning strikes. The growing HV and EHV power infrastructure projects are boosting demand in this category.

Another trend is the increasing replacement of conventional surge arresters which have exceeded their life expectancy. To maintain system integrity, power companies are replacing aged arresters with advanced polymer arresters offering higher energy absorption, reduced failure rates and improved safety.

Market Opportunities
Power network upgrade projects in developing regions of Asia Pacific, Latin America, and Africa for expanding transmission coverage and meeting industrial/residential needs will create opportunities.

The adoption of surge arresters integrated with monitoring capabilities for predictive maintenance presents an attractive market opportunity. Smart arresters help utilities optimize outage management and reduce failures through remote health assessment.

Impact of COVID-19 on Surge Arrester Market Growth

The COVID-19 pandemic impacted the surge arrester market negatively during the initial months. Lockdowns and supply chain disruptions affected production and installation of arresters globally. The demand from utilities also declined as infrastructure development projects were postponed. However, as economic activities resumed post lockdowns, the market saw steady recovery. Utilities prioritized maintenance and upgradation of transmission infrastructure to ensure uninterrupted power supply. This revived the demand for surge arresters to some extent towards the latter half of 2020. Moving ahead, investment in grid upgradation is expected to rise with focus on resilient transmission infrastructure. Various stimulus packages announced by governments also aim to strengthen electric grids through technology adoption. This will further aid the market growth in the coming years. However, fluctuation in raw material prices due to COVID-19 uncertainties and supply chain issues continue to pose challenges.

North America holds the largest share of the surge arrester market in terms of value currently. The region is home to well-established utility and manufacturing industries. Heavy investment in transmission infrastructure upgradation to enable renewable integration has propelled the demand. Besides, renovation of aging transmission grids is another key factor for market growth. Europe is also among the major geographical regions. Countries like Germany, UK, France are anticipating grid modernization initiatives to transition towards carbon-neutral sources. This is supporting the arrester demand. Meanwhile, Asia Pacific is recognized as the fastest growing regional market for surge arresters. Developing economies like China, India and Southeast Asian nations are witnessing considerable grid expansion to meet electricity demand of industrializing regions and urban centers. Favorable government policies promoting renewable capacity addition along with distribution network augmentation are fueling the arrester installations across APAC.

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