Surge Arrester Market Regional Analysis

Surge Arrester Market size was valued at USD 1.98 Billion in 2023 and is poised to grow from USD 2.07 Billion in 2024 to USD 3 Billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).

Companies within the surge arrester market capture the market through strategic alliances, product diversity, and innovation. It is becoming highly competitive since players tend to produce sophisticated, intelligent surge arresters with IoT integration for better protection and real-time monitoring. Businesses are also going to focus more on sustainability and being cost-effective to serve a wide range of clients. 'HITACHI ABB POWER GRIDS ', 'SIEMENS ENERGY ', 'GENERAL ELECTRIC (GE) ', 'EATON ', 'HUBBELL ', 'SCHNEIDER ELECTRIC ', 'CG POWER AND INDUSTRIAL SOLUTIONS ', 'MITSUBISHI ELECTRIC ', 'TE CONNECTIVITY ', 'MEIDENSHA ', 'ELPRO INTERNATIONAL ', 'LAMCO INDUSTRIES ', 'OBLUM ELECTRICAL INDUSTRIES ', 'ELEKTROLITES ', 'DEHN INTERNATIONAL ', 'TOSHIBA ', 'HM CORPORATION ', 'ENSTO ', 'ZHEJIANG HAIVO ELECTRICAL ', 'NGK INSULATORS'

Power system instability due to lightning, adverse weather conditions, and faulty electrical equipment operations is increasingly causing the demand for surge arresters. Since they protect electrical systems from voltages that periodically surge to destructive levels, these instruments can prevent costly downtime and devastating equipment damage. As a result, homes and businesses require stable electricity supply. And when the concern is raised regarding reliability, then the requirement for surge protection increases.

Smart Surge Arresters with IoT Integration: IoT and surge arresters are ever more becoming integrated. This supports remote control of electrical systems and real-time monitoring in an assembly of Internet of Things technology. These make things more effective and save time by providing utilities and industrial operators with data regarding the possibility of faults or anomalies. Surge arresters benefit through an improvement in their capabilities and attractiveness resulting from this trend towards smartness.

Asia-Pacific held the largest surge arrester market share. In addition, its growth has also been projected to witness a 4.8% CAGR during the forecast period. This is attributed to the rising investments in smart grids, projects of renewable energy, public infrastructures, the development of residential housing, and other such similar sectors. Asia-Pacific is the region with the largest consumer base in the global surge arrester market due to the presence of important developing economies such as China, India, Japan, and Australia, which have a medium market share in the intermediate sector, manufacturing, food & beverage, paper, water treatment, and many other sectors that have led to an increase in the use of surge arresters. Asia-Pacific is witnessing an upsurge in demand for electronic goods and rising disposable income, which is driving growth.