According to Cognitive Market Research, the global Surge Arrester market size will be USD 2215.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 886.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 664.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 509.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 110.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 44.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
The Polymeric Material held the highest Surge Arrester market revenue share in 2024.
