Global surge arrester market is mainly driven by the changing preferences of the working population, driving the need for automation and digitalization. Surge Arrester is device that protects electrical power system from damage caused by lightning and switching effects. It is sometimes known as surge protection device to protect equipment in transmission of power and in distribution system. The global surge arrester market is expected to grow at a 5.5% CAGR in the projected years. Globally, there is an increase in demand of power generation, expansion of smart grid network, increasing investment in transmission and distribution facilities, growing industrialization and development in power infrastructure.

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The main drivers of the market are increased demand for electrical appliances, deployment of electrical boost in power generation, and replacement of existing infrastructure of power with new one. North America accounts the highest share in the global surge arrester market followed by China, which is the fastest growing market. Technological advancements in the sector is another reason for growth in this market.

Prominent Players:

The major key player in global surge arrester markets are Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.), etc.

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Segmental Analysis:

The global Surge Arrester Market has been segmented on the basis of type, voltage, class and region.

Based on type, the market has been segmented as polymeric & porcelain.

Based on voltage, the industry has been segmented as low, medium and high.

Based on applications, the global surge arrester market is segmented into industrial, commercial and residential.

Based on region, the global Surge Arrester market cover growth opportunities and latest trends across North America, Europe, Asia Pacific and the Middle East and Africa.

Regional Outlook

Among from regions, North America, owing to the technical developments accounted for about 26% of the global market in 2017, which is the largest share. Asia Pacific surge arrester market, however, is projected to have the highest growth during the forecast period, at a CAGR higher than 10.0%, which is a positive sign for the market, especially the emerging markets.

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