Surge Arrester Market Trends

Growth Drivers

• Increasing Age Transmission Lines– All across the world, many parts of the transmission grid are over 100 years old. Over time, the insulation of transmission lines reduces significantly and they can easily be impacted by various factors, such as electrical stress, climatic conditions, and others. There to avert any damage, it is important to integrate surge arrestors in these lines.
• Growing Initiatives for Electrification – Electrification is one of the major goals of the world, and the focus has been increased in order to reduce carbon emissions. Moreover, it is expected by 2030, that electrification will grow by twice the current state. Electrification involves the rising use of digital devices and higher reliance on sensitive electronics. These electronics are prone to sudden spikes and surge arrestors ensures to prevent costly equipment failure.
• Focus on Boosting Renewables Energy– By 2026, renewables are to become the major sources of power, moreover, solar power will be responsible for the world’s half electricity output. Green energy is mainly based on environmental conditions which are susceptible to sudden changes, in such conditions, surge arrestors become highly important as a protectant.

Challenges

• Transition to Wireless- The increasing shift to wireless technology, such as cloud-based solutions, wireless products, and others reducing the demand for protection provided by surge arrestors. Therefore, it will majorly affect the expansion of the market growth.
• Low Awareness Regarding the Benefits of Surge Arrestors
• Misconception Regarding its Functionality