ALBANY, N.Y, Dec. 16, 2020 /PRNewswire/ -- Surge arresters are gaining traction across the globe owing to their ability to effectively normalizing and adjusting power consumption. These devices are used for protecting various electronic appliances from the damages due to abrupt voltage surges. Thus, surge arresters are utilized in commercial, industrial, and household applications. Owing to increasing demand for these products worldwide, the global surge arresters market is estimated to grow at rapid pace during forecast period of 2019 to 2027.
Analysts at TMR are of the opinion that the global surge arresters market will trace positive growth curve and expand at 5.10% CAGR between 2019 and 2027. Growing focus of major market enterprises toward the development of superior quality products is likely to impact positively on overall market expansion in the forthcoming years.
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Key Findings of Surge Arresters Market Report
- The global surge arresters market is expected to show growth at decent CAGR of 5.10% in the assessment period 2019–2027.
- Thus, the market is projected to account for around US$ 3.25 Bn by 2027 end.
- The total valuation of the global surge arresters market was approximately US$2.07 Bn in 2018.
- North America is one of the leading regions in the surge arresters market.
- The abovementioned region is expected to maintain its leading position during forecast period 2019–2027.
- Asia Pacific is fastest growing region in the market for surge arresters.
- Aforesaid region of surge arresters market is predicted to show growth at prodigious CAGR of 6.30% between 2019 and 2027.
- The competitive landscape of surge arresters market is highly concentrated.
Explore 95 pages of top-notch research, incisive insights, and detailed country-level projections on Surge Arresters Market (Voltage Type – Low Voltage Surge Arresters, Medium Voltage Surge Arresters, and High Voltage Surge Arresters; Application – Industrial, Commercial, and Household) - Global Industry Analysis, Trend, Size, Share, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/surge-arresters-market.html
Surge Arresters Market: Key Driving Factors and Promising Avenues
- The global surge arresters market is foreseen to gather prominent sales opportunities during assessment period of 2019 to 2027. One of the key factors driving market demand is increased use of consumer electronics and appliances in all worldwide locations.
- The market for surge arresters is estimated to continue growing at rapid pace on the back of improved disposable income of major population from all across the globe.
- The surge arresters market is predicted to gather lucrative avenues on the back of remarkable growth in power generation in the forthcoming years. Owing to growing concerns regarding the exhausting sources of energy in the world, it is expected that there will remarkable growth in the production of electricity with the help of non-renewable sources of energy. This factor is likely to generate prodigious demand for surge arresters in the upcoming years.
- Increasing industrialization in diverse emerging nations is one of the key factors driving sales opportunities in the global surge arresters market.
Analyze global surge arresters market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Surge Arresters Market: Competitive Assessment
- To sustain in the highly intense competitive landscape, major players operating in the global surge arresters market are growing their focus toward technological advancements. As a result, they are investing heavily in research activities. Apart from this, many enterprises in this market are concentrated toward launching advanced products. This scenario depicts that the global surge arresters market will experience upward growth curve in the years ahead.
- The list of important companies working in the surge arresters market includes Schneider Electric, ABB Ltd., General Electric, Eaton Corp., Siemens AG, Emerson Electric, Crompton Greaves, Mitsubishi Electric Corp., Raycap Corp., and Legrand S.A.
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The surge arresters market can be segmented as follows:
By Voltage types
- Low voltage surge arresters
- Medium Voltage surge arresters
- High voltage surge arresters
- Industrial applications
- Commercial applications
- Household applications
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- The Middle East
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