Market Size of North America Surge Arresters Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.30 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Surge Arresters Market Analysis
The North American surge arresters market is expected to record a CAGR of more than 5.3% during the forecast period, 2022-2027. The COVID-19 outbreak affected the market by delaying the projects, resulting in declining demand due to the closure of industrial facilities. The outbreak also resulted in the closure of manufacturing facilities that caused supply chain issues. However, the effect is likely to reverse once restrictions are removed. Government initiatives for a reliable electrical grid and to minimize losses that occurred at the time of power supply may drive the market. However, since power transmission and distribution projects are time-consuming, they often result in delays due to government intervention and environmental clearances, which may restrain the market.
- The industrial segment is likely to witness significant growth during the forecast period due to higher demand to protect power-sensitive, expensive machinery.
- The ongoing modernization of transmission and distribution networks in various countries by applying smart-grid technologies will likely present significant opportunities for the surge arresters in the future.
- The United States is likely to dominate the region due to more significant transmission and distribution networks and industrial and commercial facilities.
