Surge Arresters Market Analysis Current Trends and Sales Forecast Till 2021
The surge arresters are used to protect the electronic devices and machineries from damages caused due to sudden voltage surges. The market has been analyzed to reach USD 2.4 billion in 2021 growing at a CAGR of 5.1%. The increasing demand for electronic appliances in household is acting as a driver for the market. In addition, the ongoing industrialization in emerging economies is also creating a need for surge arresters in order to protect the machines from electrical damages.
Regionally, the surge arresters market has been divided into four geographic regions, North America, Europe, Asia Pacific and Rest of the world. The changing lifestyle and increasing disposable income across the globe is creating the need for electronics and automated products and solutions in households. This is return is creating a demand for surge arresters in order to protect the electronic appliances from sudden voltage surges.
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North America is leading the global surge arresters market in 2015 and is expected to dominate the market during the forecast period. The dominance is due to the region being early adapters of technology and the presence of several vendors of surge arresters such as Eaton Corporation Plc, ABB Ltd and Emerson Electric among others. Europe is following North America and has over 25% market share globally. Asia Pacific has been anticipated to be the fastest growing region during the forecast period. The ongoing industrialization in emerging economies such as China and India is acting as a driver for surge arresters in this region.
In addition, the surge arresters have also been segmented by applications into industrial, commercial and household applications. Industrial applications have the highest market share in 2015 and expected to dominate the market during the forecast period. The dominance is due to increasing industrialization across the globe.
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Table of Content
2. Executive Summary
3. Market overview
4. Global surge arresters Market Analysis, by Voltage Types 2014-2021 (USD Million)
5. Global Surge arresters Market Analysis, by Applications 2014-2021 (USD Million)
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