According to the report, the surge arresters market in Canada was valued at around USD 82.69 million in 2016 and is expected to reach approximately USD 105.84 million in 2022, growing at a CAGR of slightly above 4.02% between 2017 and 2021. A surge arresters 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 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.
According to the report, the surge arresters market in Canada was valued at around USD 82.69 million in 2016 and is expected to reach approximately USD 105.84 million in 2022, growing at a CAGR of slightly above 4.02% between 2017 and 2021.
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.
List of Figures
FIG. 1 Market Research Process
FIG. 2 Market Research Methodology
FIG. 3 Canada surge arresters market revenue, 2016 – 2022 (USD Million)
FIG. 4 Classification of surge arresters
FIG. 5 Household energy use in 2007
FIG. 6 Electricity generating capacity
FIG. 7 Wind power generation in Canada from 2005 to 2035 (in gigawatt hours)
FIG. 8 Porter’s five forces analysis for surge arresters market
FIG. 9 Market attractiveness analysis by voltage type segment
FIG. 10 Market attractiveness analysis by application segment
FIG. 11 Canada surge arresters market: Company market share, 2016
FIG. 12 Patent trend between 2011 -2016
FIG. 13 No of patent by company between 2011 – 2016
FIG. 14 No of patent by region between 2011 – 2016
FIG. 15 Canada surge arresters market revenue share by, voltage type, 2016 & 2022
FIG. 16 Canada low voltage surge arresters market, 2016 – 2022 (USD Million)
FIG. 17 Canada medium voltage surge arresters market, 2016 – 2022 (USD Million)
FIG. 18 Canada high voltage surge arresters market, 2016 – 2022 (USD Million)
FIG. 19 Canada surge arresters market revenue share, by application, 2016 & 2022
FIG. 20 Canada surge arresters market for industrial, 2016 – 2022 (USD Million)
FIG. 21 Canada surge arresters market for commercial, 2016 – 2022 (USD Million)
FIG. 22 Canada surge arresters market for household, 2016 – 2022 (USD Million)
FIG. 23 Sales By Geography, 2016
FIG. 24 Net sales by years (USD billions)
List of Tables
TABLE 1 Canada surge arresters market: Snapshot
TABLE 2 Drivers of the surge arresters Market: Impact Analysis
TABLE 3 Restraints for the surge arresters Market: Impact Analysis