Surge Arrester Market Study with Competitive Landscape, Market Insights, and Growth Prospects to 2027
Stratview Research delivers key insights on the global Surge Arrester Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Surge Arrester Market:
ABB Limited
CG Power and Industrial Solutions Limited
DEHN
Eaton Corporation
General Electric
Hakel
Hubbell Power Systems
INAEL Electrical Systems
Siemens AG
TE Connectivity.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Surge Arrester Market value and growth drivers over the trend period of 2022-27. According to the report -
Surge Arrester Market is likely to witness an impressive CAGR of 6.0% during the forecast period. Growing electricity demand, large scale renewable integration, refurbishment of existing grid networks, and increasing electric infrastructure spending are some of the major factors expected to drive the market growth over the forecast period.
Based on Class Type:
Based on the class type, the market is segmented as distribution, intermediate, and station. Distribution class is estimated to witness high growth in the market during the forecast period on account of superior overvoltage protection provided by it. Further, station class is also estimated to account for a significant share of the market owing to various lucrative features, such as high-pressure relief capability, superior performance to resist contamination, high durability, and excellent cantilever strength offered by it.
Based on Region:
In terms of regions, Europe is estimated to be the leading region in the market during the forecast period owing to growing investments by the government imposing stringent regulations to modernize smart grid infrastructures. In addition, in North America, the U.S. is estimated to account for significant share of the market on account of increasing investments by utilities toward capital additions coupled with increasing security compliance standards, fueling the regional market growth. Moreover, Asia-Pacific is also estimated to offer substantial growth opportunities over the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Surge Arrester Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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