Tuesday, 22 December 2015

High Voltage Surge Arresters Dominated Global Market with 45.3% Share

A surge arrester is a type of device utilized to protect electrical equipment from transient surges of high voltage caused by internal or external events. This device is also known as a transient voltage surge suppressor or surge protection device and is utilized for the protection of equipment within power distribution and transmission systems. A surge arrester is attached to the ground and operates by the process of rerouting the excess energy.

Rising Demand for Electric Appliances to Boost Surge Arresters Market
The global surge arresters market is being fuelled by the rising demand for electric appliances within households owing to the increasing disposable incomes and changing lifestyles of individuals all around the globe. Electronic appliances may get damaged owing to sudden voltage surges and surge arresters are being used to protect them. In addition, the growing awareness in favor of power generation via renewable energy sources is boosting the development of the surge arrester market. The growing industrialization in developing countries is also stimulating the demand for surge arresters. Furthermore, the soaring costs involved in the maintenance of machinery owing to fluctuations in voltage have fuelled the demand for surge arresters within industrial applications.

On the basis of type, the surge arresters market is segmented into low voltage surge arresters, high voltage surge arresters, and medium voltage surge arresters. Amongst these types, the segment of high voltage surge arresters constitutes the largest share of 45.3%. The reason for the superiority of this segment is the continuous industrialization in the developing economies of China and India. Industrial equipment requires protection from acute damage incurred by voltage fluctuations. This factor is raising the demand for high voltage surge arresters.

In terms of application, the market is segmented into commercial applications, industrial applications, and household applications. Amongst these, industrial applications account for the biggest share in the market in 2015 and are expected to maintain their dominance in the coming six years. The dominance of industrial applications is owing to the spread of industrialization around the world.

North America Surge Arresters Market Emerges as Largest Market

In terms of regions, the surge arresters market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). In 2015, North America held the biggest share in the market and is predicted to maintain its superiority in the forthcoming years. The presence of a number of vendors and North America being an early adopter of this technology are the prime reasons for the dominance of this region. Europe trailed North America and held a share of more than 25% in the market. On the other hand, Asia Pacific is expected to be the most swiftly developing region in the coming years owing to the increasing industrialization in the developing economies of India and China.

The prominent players operating in the market for surge arresters include ABB Ltd, Siemens AG, Emerson Electric, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Crompton Greaves, Eaton Corporation Plc., Legrand S.E., and Raycap Corporation, among others.

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