The surge arrester market offers protection to sensitive equipment from overvoltages by limiting surge voltages and eliminating disruptive overvoltages from the path. Surge arresters are vital safety components that are used in power transmission & distribution networks and industrial applications for the protection of expensive equipment from lightning strikes and switching surges. They help in protecting transmission lines, transformers, substations, and distribution systems from high voltage transients or surges and aid power utilities in providing reliable electricity. The growing investments in the modernization of aging power infrastructure, focus on expanding T&D networks, and investments in smart grids are driving the demand for arresters.
The surge arrester market is estimated to be valued at USD 1.85 Bn in 2024 and is expected to reach USD 2.73 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.72% from 2024 to 2031.
Key Takeaways
Key players operating in the surge arrester market are Siemens AG, ABB AG, General Electric (GE), Schneider Electric SE, Eaton Corporation.

These players dominate the market owing to their robust product portfolios and widespread distribution networks.
The Surge Arrester Market growing investments in upgrading aging power infrastructure along with expansion of transmission and distribution networks are fueling the demand for surge arresters. Furthermore, the rapid industrialization and urbanization in developing nations have increased power consumption, necessitating increased investments in T&D assets.
Technological advancements are aiding the development of innovative surge arrester designs with better performance characteristics. For instance, solid state surge arresters offer improved insulation, faster response, lower let-through voltage, reduced noise emission, and extended life. Additionally, self-monitoring arresters with intelligent failure detection capabilities are gaining traction.
Market Trends
- Polymeric arresters are gaining popularity owing to their compact size, light weight, and resistance to pollution. They exhibit better insulation properties than conventional zinc oxide-based designs.
- Surge arresters with nanotechnology-based varistors offer ultra-fast response, superior energy absorption, higher thermal stability, longer life, and lower failure rates. Leading manufacturers are focusing on the development of advanced nanocomposite-based designs.
Market Opportunities
- Investments in smart grid infrastructure provide opportunities for intelligent/digital arresters integrated with sensors and communication capabilities for remote monitoring.
- Integration of renewable energy generation will necessitate increased investments in transmission networks for evacuation and distribution, driving demand for arresters.
Impact of COVID-19 on Surge Arrester Market Growth:
The COVID-19 pandemic has negatively impacted the growth of the surge arrester market. The imposition of lockdowns across countries led to temporary shutdowns of manufacturing facilities along with supply chain disruptions. This affected the production volumes of surge arresters as raw materials were not readily available. The demand from end-use industries such as utilities, mining, and oil & gas also witnessed a steep decline due to reduced industrial and commercial activities during the pandemic.
However, investments in strengthening the transmission and distribution infrastructure continued to provide support. Various government stimulus packages aimed at reviving the construction sector boosted projects involving power line installations and upgrades. This provided some cushion against declining revenues. With vaccination drives underway globally, industrial activities have started picking up gradually. While supplier challenges persist, manufacturers are focusing on ramping up production to fulfill backlogged orders. The long-term outlook remains positive as reforms towards universal electrification across rural areas gain traction.
Geographical Regions with Highest Surge Arrester Market Value:
Asia Pacific accounts for the largest share in terms of value contribution to the global surge arrester market. The region's dominant position can be attributed to the massive ongoing investments to modernize aging transmission grids in highly populated countries such as China and India. Presence of leading manufacturers further adds to regional demand. North America and Europe follow next on account of infrastructure refurbishment projects underway to enhance grid reliability amid policy push for clean energy integration.
Fastest Growing Regional Market for Surge Arresters:
The Middle East and Africa surge arrester market is estimated to expand at the fastest pace during the forecast period. This is driven by multi-billion dollar projects aimed at expanding electrification in rural communities across the regions. Oil producing nations are also actively increasing inter-regional power trading through investment in cross-border interconnections. The underlying industry trends are expected to drive the uptake of surge arresters for grid protection in the years ahead.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)