Surge Arrester Market to record USD 585.71 Mn growth | CG Power and Industrial Solutions Ltd., Eaton Corp. Plc, and General Electric Co. emerge as major vendors | Technavio

NEW YORK, Nov. 24, 2021 /PRNewswire/ — The global surge arrester market is fragmented in nature. The presence of a large…

NEW YORK, Nov. 24, 2021 /PRNewswire/ — The global surge arrester market is fragmented in nature. The presence of a large number of regional and global players is increasing the competition in the market. Hence, vendors are adopting various organic and inorganic strategies to gain an edge and remain competitive.

Technavio estimates the global surge arrester market size to grow by USD 585.71 million between 2020 and 2025. However, the growth momentum is expected to decelerate at a CAGR of 6.40% during the forecast period.

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Market Dynamics

The market is driven by factors such as the increasing investments in T&D networks and the growing demand for reliable and continuous power supply. But the high cost of installation is hindering the market growth.

The growing automation and digitalization are expected to open multiple growth opportunities for players in the market. However, the availability of counterfeit products will negatively impact the business of vendors during the forecast period.

Company Profiles

The surge arrester market report provides complete insights on key vendors including CG Power and Industrial Solutions Ltd., Eaton Corp. Plc, General Electric Co., Hitachi Ltd., Hubbell Inc., Meidensha Corp., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, and TE Connectivity Ltd.

Competitive Analysis

The surge arrester market report includes the competitive analysis, which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

  • By Type, the market is classified into polymeric and porcelain.
  • By Geography, the market is classified as APAC, Europe, North America, MEA, and South America.

The market witnessed maximum demand for polymeric surge arresters from end-users in 2020. The segment will continue to remain the largest segment in terms of type over the forecast period. Similarly, Europe will have the largest share of the market. The region currently holds 35% of the global market share. Germany and the UK are the key markets for surge arresters in Europe.

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Surge Arrester Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.40%

Market growth 2021-2025

USD 585.71 million

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

Europe at 35%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

CG Power and Industrial Solutions Ltd., Eaton Corp. Plc, General Electric Co., Hitachi Ltd., Hubbell Inc., Meidensha Corp., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, and TE Connectivity Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

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Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio