Surge Arrester Market Size, Share, Growth Analysis, By Type (Porcelain, Polymeric), By Voltage (High Voltage, Low Voltage), By Class (Distribution Class, Intermediate Class), By Application (AIS, GIS), By End User, By Region -Industry Forecast 2025-2032

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).

The surge arrester industry grows because of the new demand for smart grid infrastructure, replacing old equipment and bringing new end-use industries, particularly in renewable energy projects. Surge arresters also play a crucial role in guard electrical equipment, in the transmission and distribution networks. They are used in the transmission lines, substations, and the rest of the electrical network. This sector has the highest driving factor in terms of increased investment in T&D networks. The surge arrester market growth is mainly depending on the development and extension of the T&D network. This is expected to be driven forward by additional electrification projects in China and India, and extensions in networks to allow for the inclusion of renewable energy in the US, Europe, and other advanced economies. For the past ten years, investments in renewable energy technologies have stepped up across the world. Renewable energy technologies are growing due to a rapid rate of devaluation in the installation costs due to technological development and a move toward green energy power generation in some countries. This will be installed at substations and connecting points in the next renewable energy projects. A substation is an integrated renewable energy facility that connects to the grid. These substations take advantage of this. Today, more renewable energy is being produced globally, and consequently, manufacturers are now given the opportunity of increased investment in renewable energy projects.