Global Polymer Surge Arrester Market Overview
As per MRFR analysis, the Polymer Surge Arrester Market Size was estimated at 0.12 (USD Billion) in 2022. The Polymer Surge Arrester Market Industry is expected to grow from 0.12(USD Billion) in 2023 to 0.2 (USD Billion) by 2032. The Polymer Surge Arrester Market CAGR (growth rate) is expected to be around 5.48% during the forecast period (2024 - 2032).
Key Polymer Surge Arrester Market Trends Highlighted
It can be seen that there has been a marked improvement in polymer surge arrester performance with additional factors contributing to this growth being a rise in energy consumption and an enhanced power generation capacity, amongst others.
The polymer surge arrester market has, within the past years, also experienced a shift in focus with the enhancement of installations which shift towards the intake of smaller and lighter structures, making it easier to install and with less servicing costs. In addition to these, new sensors and monitoring devices are used to detect faults quickly and monitor the conditions of the grid to minimize any unexpected downtime of the system. Also, there is increasing concern about the ecological impacts of manufacturing polystyrene surge arresters, and thus, manufacturers turn to more ecological alternatives with the promotion of recycling.
Carbon footprint regulation also offers new opportunities in the polymer surge arrester market as more renewable sources of electricity, such as wind and solar energy, come on board, and there is a need for adequate surge protection. Along the same line, as urbanization and industrialization in emerging economies are on the rise, there is high demand for impressive and effective power distribution systems, which give room for the use of polymer surge arresters in new markets to meet the demand.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Polymer Surge Arrester Market Drivers
Increasing Demand for Power Transmission and Distribution
The growing demand for electricity worldwide is driving the need for reliable and efficient power transmission and distribution systems. Polymer surge arresters play a critical role in protecting these systems from voltage surges caused by lightning strikes, switching operations, and other transient events. As the demand for electricity continues to rise, the market for polymer surge arresters is expected to grow in parallel. The increasing adoption of renewable energy sources, such as solar and wind power, is also contributing to the demand for surge arresters, as these systems are more susceptible to voltage fluctuations and surges.Moreover, the expansion of smart grids and the integration of distributed energy resources are further driving the need for advanced surge protection solutions, which is expected to boost the growth of the Polymer Surge Arrester Market Industry.
Technological Advancements and Product Innovations
The Polymer Surge Arrester Market Industry is witnessing significant technological advancements and product innovations. Manufacturers are continuously investing in research and development to enhance the performance and reliability of polymer surge arresters. The introduction of new materials and manufacturing techniques has led to the development of surge arresters with higher energy absorption capacities, improved insulation properties, and longer service life.Additionally, the integration of advanced monitoring and diagnostic systems allows for real-time monitoring of surge arrester performance and predictive maintenance, which helps to optimize system reliability and reduce downtime. These technological advancements are expected to drive the adoption of polymer surge arresters in various applications.
Growing Awareness of Electrical Safety and Reliability
The increasing awareness of electrical safety and reliability is another key driver for the growth of the Polymer Surge Arrester Market Industry. Governments and regulatory bodies worldwide are implementing stringent regulations and standards to ensure the safety and reliability of electrical systems. These regulations mandate the use of surge protection devices, including polymer surge arresters, to protect critical infrastructure, industrial facilities, and commercial buildings from electrical hazards.Moreover, the growing emphasis on workplace safety and the prevention of electrical accidents is driving the demand for surge arresters in various industries, including manufacturing, mining, and transportation.
Polymer Surge Arrester Market Segment Insights:
Polymer Surge Arrester Market Technology Insights
The Polymer Surge Arrester Market is segmented by technology into Metal Oxide Varistor (MOV), Silicon Carbide (SiC) Surge Arrester, Zinc Oxide (ZnO) Surge Arrester, and Polymer-Housed Surge Arrester. Metal Oxide Varistor (MOV) held the largest market share in 2023, and it is expected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing demand for MOVs in various electronic devices, such as power supplies, inverters, and motor drives. Silicon Carbide (SiC) Surge Arresters are expected to witness the highest growth rate during the forecast period.The increasing demand for SiC surge arresters in high-voltage applications, such as power transmission and distribution systems, is driving the growth of this segment. Zinc Oxide (ZnO) Surge Arresters are widely used in low-voltage applications, such as household appliances and industrial equipment. The stable performance and cost-effectiveness of ZnO surge arresters are contributing to the growth of this segment. Polymer-Housed Surge Arresters offer superior insulation properties and environmental resistance, making them suitable for outdoor applications.The growth of the market is attributed to the increasing demand for surge arresters in various industries, such as power generation, transmission and distribution, telecommunications, and industrial automation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Polymer Surge Arrester Market Application Insights
The Polymer Surge Arrester Market segmentation by Application comprises Power Distribution Systems, Industrial Machinery, Electronic Devices, Telecommunication Networks, and Transportation Systems. Power Distribution Systems segment held the largest market share in 2023, owing to the increasing demand for reliable and efficient power distribution networks. The Industrial Machinery segment is projected to witness significant growth over the forecast period, driven by the growing adoption of automation and the need for protection against electrical surges in industrial settings.The Electronic Devices segment is anticipated to have a steady growth, fueled by the rising demand for consumer electronics and the increasing integration of electronics in various applications. Telecommunication Networks segment is expected to grow at a moderate pace, driven by the expansion of telecom networks and the need for surge protection in communication systems. The transportation Systems segment is projected to have stable growth, attributed to the increasing adoption of electric vehicles and the need for surge protection in transportation systems.
Polymer Surge Arrester Market Voltage Rating Insights
The Polymer Surge Arrester Market is segmented based on voltage rating, which includes low voltage (1 kV), medium voltage (1 kV - 36 kV), high voltage (36 kV - 765 kV), and extra high voltage (765 kV and above). The medium voltage segment is expected to hold the largest share of the market in 2023, owing to its high demand in various industrial applications. The low voltage segment is projected to witness significant growth in the coming years, driven by the increasing adoption of surge arresters in residential and commercial buildings. The high voltage segment is anticipated to have a steady growth rate, attributed to the increasing use of surge arresters in power transmission and distribution systems.The extra high voltage segment is expected to witness moderate growth, owing to its limited applications in specialized industries.
Polymer Surge Arrester Market Mounting Type Insights
The Polymer Surge Arrester Market is segmented by mounting type into pole-mounted, pad-mounted, wall-mounted, and substation-mounted. Among these, the pole-mounted segment is expected to hold the largest market share in 2024 due to its cost-effectiveness and ease of installation. The pad-mounted segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for underground distribution systems. The wall-mounted segment is expected to account for a significant market share due to its compact size and ease of maintenance.The substation-mounted segment is expected to hold a smaller market share due to its higher cost and complexity of installation.
Polymer Surge Arrester Market Regional Insights
The Polymer Surge Arrester Market is segmented into regions such as North America, Europe, APAC, South America, and MEA. The market is expected to grow significantly in the coming years, driven by increasing demand for surge arresters in various industries, including power generation, transmission, and distribution. North America held the largest market share in 2023, followed by Europe. The growth in these regions can be attributed to the presence of a large number of industrial and commercial establishments, which require surge arresters to protect their electrical equipment from voltage spikes.APAC is expected to witness the fastest growth over the forecast period due to the increasing investment in infrastructure development and the growing demand for electricity in the region. South America and MEA are also expected to experience steady growth in the coming years. The Polymer Surge Arrester Market is highly competitive, with a number of key players operating in the market. These players offer a wide range of surge arresters designed to meet the specific requirements of different industries. Some of the key players in the market include ABB, Siemens, Eaton, and Schneider Electric.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Polymer Surge Arrester Market Key Players And Competitive Insights:
Major players in the Polymer Surge Arrester Market are focusing on developing new products and technologies to meet the growing demand for these products. Leading Polymer Surge Arrester Market players are also investing in research and development to improve the efficiency and performance of their products. The Polymer Surge Arrester Market is expected to witness significant growth in the coming years due to the increasing demand for these products from various industries. The Polymer Surge Arrester Market industry, is also expected to benefit from the growing adoption of renewable energy sources, as these products are essential for protecting electrical systems from damage caused by power surges.ABB is a leading company in the Polymer Surge Arrester Market. The company offers a wide range of polymer surge arresters, which are designed to protect electrical systems from damage caused by power surges. ABB's polymer surge arresters are known for their high quality and reliability. The company has a strong global presence, with manufacturing facilities in several countries. ABB is also actively involved in research and development and has developed a number of innovative products and technologies.Eaton is another major player in the Polymer Surge Arrester Market. The company offers a wide range of polymer surge arresters, which are designed to meet the needs of various industries. Eaton's polymer surge arresters are known for their durability and performance. The company has a strong global presence, with manufacturing facilities in several countries. Eaton is also actively involved in research and development and has developed a number of innovative products and technologies.
Key Companies in the Polymer Surge Arrester Market Include:
- Nissin Electric
- Siemens
- Mitsubishi Electric
- Schneider Electric
- Hitachi ABB Power Grids
- KEPCO
- General Electric
- Eaton
- ABB
- Royal Philips
- Toshiba
- Hyundai Electric
- LS Industrial Systems
- Fuji Electric
- Hubbell
Polymer Surge Arrester Market Industry Developments: Growing demand for renewable energy: The increasing adoption of solar and wind power is driving demand for surge arresters to protect critical electrical infrastructure from voltage spikes. Government regulations: Stringent regulations on electrical safety and grid stability are fueling the demand for polymer surge arresters in various industries. Technological advancements: Manufacturers are investing in research and development to enhance the performance and efficiency of polymer surge arresters. Strategic partnerships: Key players are forming partnerships to expand their market reach and develop innovative solutions. For instance, in 2023, ABB partnered with NKT to provide integrated surge protection solutions for the power industry. Expansion into emerging markets: Growing infrastructure development in emerging economies is creating new opportunities for polymer surge arrester manufacturers.
Polymer Surge Arrester Market Segmentation Insights
- Polymer Surge Arrester Market Technology Outlook
- Metal Oxide Varistor (MOV)
- Silicon Carbide (SiC) Surge Arrester
- Zinc Oxide (ZnO) Surge Arrester
- Polymer-Housed Surge Arrester
- Polymer Surge Arrester Market Application Outlook
- Power Distribution Systems
- Industrial Machinery
- Electronic Devices
- Telecommunication Networks
- Transportation Systems
- Polymer Surge Arrester Market Voltage Rating Outlook
- Low Voltage (1 kV)
- Medium Voltage (1 kV - 36 kV)
- High Voltage (36 kV - 765 kV)
- Extra High Voltage (765 kV and above)
- Polymer Surge Arrester Market Mounting Type Outlook
- Pole-Mounted
- Pad-Mounted
- Wall-Mounted
- Substation-Mounted
- Polymer Surge Arrester Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.12(USD Billion) |
| Market Size 2023 |
0.12(USD Billion) |
| Market Size 2032 |
0.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.48% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Nissin Electric, Siemens, Mitsubishi Electric, Schneider Electric, Hitachi ABB Power Grids, KEPCO, General Electric, Eaton, ABB, Royal Philips, Toshiba, Hyundai Electric, LS Industrial Systems, Fuji Electric, Hubbell |
| Segments Covered |
Technology, Application, Voltage Rating, Mounting Type, Regional |
| Key Market Opportunities |
Increased grid modernization, Growing demand for renewable energy, Rising need for power quality, Expanding industrial automation, Smart grid infrastructure development. |
| Key Market Dynamics |
1.      Increasing demand for reliable power distribution Smart grid development 2.      Rising energy consumption 3.      Stringent regulations on power quality 4.      Growing use in renewable energy applications |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Polymer Surge Arrester Market is expected to be valued at USD 0.12 billion in 2023 and is projected to reach USD 0.20 billion by 2032, exhibiting a CAGR of 5.48% during the forecast period.
North America is expected to dominate the Polymer Surge Arrester Market, accounting for the largest market share during the forecast period.
The increasing demand for reliable power distribution networks, growing adoption of renewable energy sources, and stringent government regulations are primarily driving the growth of the Polymer Surge Arrester Market.
Polymer Surge Arresters are primarily used in power distribution systems, transmission lines, and substations to protect electrical equipment from voltage surges.
Some of the major players operating in the Polymer Surge Arrester Market include ABB, Siemens, Eaton, Schneider Electric, and General Electric.
The Polymer Surge Arrester Market in the Asia Pacific region is projected to grow at a CAGR of 6.2% during the forecast period.
The high cost of raw materials and intense competition from alternative surge protection technologies pose challenges to the growth of the Polymer Surge Arrester Market.
Government regulations mandating the use of surge protection devices in power systems have a positive impact on the demand for Polymer Surge Arresters.
The integration of advanced materials and technologies, such as nanotechnology and IoT, are emerging trends in the Polymer Surge Arrester Market.
The Polymer Surge Arrester Market is projected to reach USD 0.20 billion by 2032, exhibiting a CAGR of 5.48% during the forecast period.
