The Canada Surge Arresters Market accounted for USD 98.12 Million in 2020 and is expected to reach USD 128.9 Million by 2028, growing at a CAGR of around 3.4% between 2021 and 2028.
Market Overview
The Canada Surge Arresters Market accounted for USD 98.12 Million in 2020 and is expected to reach USD 128.9 Million by 2028, growing at a CAGR of around 3.4% between 2021 and 2028.
A surge arrester is an electrical device used to protect electrical/electronic equipment from getting damaged due to the over-voltage transients. Normally surge occurred due to the sudden interruption of the flow of electricity which increased the electrical potential energy in the device. Surge arresters protect the device from internal and external voltage fluctuations. Surge arresters cannot protect electronic equipment from direct lightning. It protects the equipment from external voltage fluctuation such as lightning. The surge arresters’ market is predicted to witness significant growth owing to the increasing demand for consumer electronics products. Growing demand for renewable energy is an emerging trend that is probably going to open new market avenues within the near future. However, some restraints like the complexity of installation and high cost may hamper the expansion of this market.
COVID-19 Impact Analysis
The most significant near-term impacts on surge arresters that are already contracted or under the manufacturing process could also be felt through supply chains. Industry executives are anticipating delivery and construction slowdowns, either due to the closure of industries to scale back the spread of coronavirus or because the workers start getting sick. Manufacturing disruptions in China and therefore the US could contribute to a big short-term decline within the surge arresters market. However, considering future opportunities, MNC’s are investing more in Canada's surge arresters due to the increasing demand from consumer electronics across the world.
Growth Factors
The main driving factor for the Canada surge arresters market is the rising demand for power generation. Canada is that the world's second-largest producer of hydroelectricity after China and accounted for 60% of all-electric generation in 2007. This shows the energy production in Canada which is predicted to possess a positive impact on the surge arresters market. The rising need to safeguard expensive electrical equipment from unexpected electrical surges is predicted to boost the market growth. Acceptance of the latest trends and technology development are propelling the long-term future development of the Canada surge arresters. Also, increasing efforts by market players to sustain within the market is another reason for the growth of the Canada surge arresters.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Type Segment Analysis Preview
Based on voltage type, the Canada surge arresters market is segmented into high voltage, low voltage, and medium voltage. High voltage surge arresters dominated the surge arresters market in 2019, which accounted for around 38% share of the Canadian market due to the high demand from the utility sector for uninterrupted power supply. High voltage surge arresters have emerged as the most attractive segment of the market owing to rising demand to protect heavy machinery and equipment in several industries. Medium voltage surge arresters were the second largest segment of the Canada surge arrester market.
Application Segment Analysis Preview
Industrial, commercial, and household are the different application segments of surge arresters. In 2019, the industrial segment dominated the surge arresters market and accounted for a 40% share of the total market. Technological advancements have meaningly enhanced the prevailing manufacturing techniques which have increased the demand for Canada and are predicted to grow over the forecast period
Key Market Players & Competitive Landscape
Key industry participants include Emerson Electric, Eaton Corporation Plc, Siemens AG, ABB Ltd, Schneider Electric S.E., Raycap Corporation, Mitsubishi Electric Corporation, and Crompton Greaves.
The Canada Surge Arresters Market is segmented as follows:
By Type
By Application
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Canada Surge Arresters Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Canada Surge Arresters Market for Low Voltage Surge Arresters, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Canada surge arresters for Low Voltage Surge Arresters, By Country, 2020 & 2028
FIG NO. 9. Canada Surge Arresters Market for Medium Voltage Surge Arresters, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Canada surge arresters for Medium Voltage Surge Arresters, By Country, 2020 & 2028
FIG NO. 11. Canada Surge Arresters Market for High Voltage Surge Arresters, Revenue (USD Million) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Canada surge arresters for High Voltage Surge Arresters, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 14. Canada Surge Arresters Market for Commercial, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Canada surge arresters for Commercial, By Country, 2020 & 2028
FIG NO. 16. Canada Surge Arresters Market for Household, Revenue (USD Million) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Canada surge arresters for Household, By Country, 2020 & 2028
FIG NO. 18. Canada Surge Arresters Market for Industrial, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Canada surge arresters for Industrial, By Country, 2020 & 2028
FIG NO. 20. Canada Surge Arresters Market Revenue Share, By Region, 2020 & 2028
FIG NO. 21. Canada surge arresters Revenue, 2016 - 2028 (USD Million)
FIG NO. 22. Porter’s Five Forces Analysis for Canada Surge Arresters Market
FIG NO. 23. PEST Analysis for Canada Surge Arresters Market
FIG NO. 24. Pricing Analysis for Canada Surge Arresters Market
FIG NO. 25. Value Chain Analysis for Canada Surge Arresters Market
FIG NO. 26. Company Share Analysis, 2019
FIG NO. 27. Radar Determinant Chart, 2019
FIG NO. 28. Company Strategic Developments – Heat Map Analysis
FIG NO. 29. Business Segment Revenue Share, 2020 (%)
FIG NO. 30. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 31. Market Channels
FIG NO. 32. Marketing Channel Development Trend
FIG NO. 33. Growth in World Gross Product, 2008-2018
FIG NO. 34. Research Methodology – Detailed View
FIG NO. 35. Research Methodology
List of Tables
TABLE NO. 1. Canada Surge Arresters Market: Snapshot
TABLE NO. 2. Quarterly Canada surge arresters Revenue by Region, 2020
TABLE NO. 3. Quarterly Canada surge arresters Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Canada Surge Arresters Market for Low Voltage Surge Arresters , by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Canada Surge Arresters Market for Medium Voltage Surge Arresters, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Canada Surge Arresters Market for High Voltage Surge Arresters, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Canada Surge Arresters Market for Commercial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10 Canada Surge Arresters Market for Household, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Canada Surge Arresters Market for Industrial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Canada surge arresters Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 13. Canada surge arresters Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 14. Canada surge arresters Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 15. Drivers for the Canada surge arresters: Impact Analysis
TABLE NO. 16. Restraints for the Canada surge arresters: Impact Analysis
TABLE NO. 17. Major Buyers of Canada surge arresters
TABLE NO. 18. Distributors/Traders List of Canada surge arresters
TABLE NO. 19. Canada Surge Arresters Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 20: Canada Surge Arresters Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
This report is based on in-depth qualitative and quantitative analyses of the global Surge Arrester market. Zion Research has collected and analyzed key data belong to the global Surge Arrester market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Surge Arrester across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Surge Arrester industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Surge Arrester market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
A surge arrester is a device used to protect electrical equipment and machinery from over-voltage transients caused by internal and external voltage fluctuations. Surge arrest driver or limit the current flow to protect the electronic device from getting damaged. Internal voltage fluctuations and external factors such as lightning cause damage to the electrical equipment used in several industries. Surge arrester cannot protect electronic equipment from direct lightning. It protects the equipment from electrical transients occurring from lightning.
Surge arrester market is primarily driven by increasing demand of electronic devices coupled with decreasing prices of consumer electronics. High demand for consumer electronics products and home appliances is expected to propel the market growth during the year to come. In addition, high disposable income and changing lifestyles in developed countries also help to grow the consumer electronics industry and power consumption at the rapid pace. However, some restraints like high cost and complexity of installation of surge arrester in huge plants may hinder the growth of the market. Moreover, increasing demand for renewable energy helps to open up new opportunities in the surge arrester market.
Based on application segment, the surge arrester market has been segmented into industrial, commercial and household applications. The industrial sector was leading application segment surge arrester market and accounted for the largest market share in 2016. Rising automation in both manufacturing and processing industry has augmented the demand for surge arresters in the industrial machinery and equipment sectors.
In terms of voltage type, Canada surge arrester market is segmented into low voltage surge arresters, medium voltage surge arresters, and high voltage surge arresters. High voltage surge arrester dominated the surge arrester market owing to the high demand from industrial applications. Medium voltage surge arrester is expected have a strong growth in the near future.
Canada is the world's second major manufacturer of hydroelectricity after China and accounted for 60% of all electric generation in 2007. Canada has made continuous development to improve and utilize natural resources in the service of electricity production. Thus, the rise in the demand for power generation is one of the primary factors anticipated to drive the surge arresters market in Canada.
Some of the key participants involved in surge arrester market includeEmerson Electric, Eaton Corporation Plc, Siemens AG, ABB Ltd, Schneider Electric S.E., Raycap Corporation, Mitsubishi Electric Corporation, and Crompton Greaves.
Request the coronavirus impact analysis across industries and markets
The Canada Surge Arresters Market was valued at USD 98.12 Million in 2020.
The Canada Surge Arresters Market is expected to reach USD 128.99 Million by 2028, growing at a CAGR of 3.4% between 2021 to 2028.
Increasing power quality issues experienced by the electronic equipment owing to the massive electricity flow is anticipated to uplift the product demand over the coming years.
Major participants in the surge arresters include Emerson Electric, Eaton Corporation Plc, Siemens AG, ABB Ltd, Schneider Electric S.E., Raycap Corporation, Mitsubishi Electric Corporation, and Crompton Greaves.
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