Low Voltage Surge Arrester Market to hit USD 780.5 Million by 2032, Says Global Market Insights Inc.
Major low voltage surge arrester market participants include TE Connectivity, ABB, Surgetek, General Electric, Eaton, Izoelektro, INAEL S.A., CHINT Group, Siemens Energy, DEHN SE, Ensto, CG Power & Industrial Solutions Ltd., Elpro, TDK Electronics AG., Hubbell.
Selbyville, Delaware,, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The low voltage surge arrester market is expected to reach USD 780.5 million by 2032, as reported in a research study by Global Market Insights Inc. The global shift towards sustainable energy is increasing the need to manage voltage surges in the context of renewable energy integration. Fluctuations in renewable power generation are necessitating effective surge protection methods to maintain grid stability and safeguard sensitive electronic equipment. Low-voltage surge arresters ensure the seamless integration of renewable energy into the existing power systems. Moreover, the rising investments for promoting the transition to sustainable energy sources through renewable energy projects will support the overall market growth.
The porcelain material segment in the low voltage surge arrester market witnessed significant demand in 2022 and is anticipated to depict notable growth through 2032. Porcelain surge arresters offer superior electrical and mechanical properties in low-voltage applications. Given their excellent resistance to environmental factors, such as moisture and pollution, porcelain surge arrestors enhance reliability in diverse operating conditions. Additionally, the robustness of the material ensures a prolonged lifespan and minimal maintenance requirements. With multiple industries prioritizing efficient and durable surge protection solutions, the product demand is expected to rise.
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Low voltage surge arrester market from the industrial end-use segment is projected to witness high demand from 2023-2032. This can be attributed to the growing reliance of industries on low voltage surge arresters to safeguard sensitive equipment and electronic devices from voltage spikes and transient overvoltage. The automation of manufacturing facilities is expected to boost the demand for effective surge protection in the industrial sector to prevent damage to the machinery and minimize downtime, fostering the segment growth.
North America low voltage surge arrester market is set to exhibit robust growth through 2032 driven by the increasing emphasis on electrical infrastructure resilience and equipment protection in the region. The ongoing modernization and digitalization of several industries is fueling the development of reliable surge protection solutions. For instance, in June 2023, Littelfuse, Inc. introduced the NEMA-style surge protective device series to protect equipment from abrupt overvoltage occurrences lasting microseconds whilst reducing costly harm and downtime. Additionally, the presence of stringent regulatory environment and the need for uninterrupted power supply may further accelerate the regional market expansion.
Some of the major companies operating in the low voltage surge arrester market are ABB, TE Connectivity, General Electric, Ensto, Eaton, Surgetek, Hubbell, CHINT Group, TDK Electronics AG, Siemens Energy, DEHN SE, Elpro, and many others. These industry players are introducing advanced surge protection solutions, incorporating cutting-edge technologies and enhanced features, to meet the evolving demands of modern electrical systems. For instance, in August 2023, Toshiba Electronic Devices & Storage Corporation introduced the XCUZ Series of AEC-Q101-rated surge-protection Zener diodes for automotive equipment.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Low voltage surge arrester industry 3600 synopsis, 2019 - 2032
Chapter 3 Low Voltage Surge Arrester Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's Analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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