Market Research Blog

The global safety instrumentation systems market is forecasted to be valued at US$ 6947.3 million by 2032, up from US$ 4123.3 million in 2022, advancing at a CAGR of 5.4% during the forecast period.

The demand for safety instrumentation systems is on the rise because of the increasingly multidisciplinary engineering atmosphere. In the face of the growing need for engineers and technicians involved in the process of engineering to remain aware of the implications of operating and designing safety instrumentation systems.

Safety instrumentation systems are critical in providing a protective layer of functionality in a variety of industrial processes and automation systems. It facilitates hazard identification, safety requirement specification, and system and operation maintenance throughout the plant’s lifetime.

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The safety instrumentation systems are being highly adopted for protecting the environment and the nearby communities as when safe operating conditions are violated or safety limits are exceeded, the safety instrumentation systems are used for returning the process to a safe state.

Therefore, it is anticipated that the safety instrumentation systems market is likely to witness significant growth during the forecast period.

It is expected that the safety instrumentation systems market will be heavily reliant on the growth of the petrochemical and energy sectors, which will drive the global growth of the safety instrumentation systems market.

Furthermore, machine safety demands are continuing to rise, and the major drivers in the safety instrumentation systems are stringent mandates for safety regulations, high demand for safety instrumentation systems in the oil & gas, energy & power, and food & beverages industries, and the rising need for reliable safety instrumentation systems for machine protects.

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Furthermore, the rise of the global automotive manufacturing industry is expected to be one of the major drivers of the safety instrumentation systems market. The federal government.

The North American market is expected to have significant growth in the coming years. Currently, the North American regions are cumulatively holding 24.0% of the total share of the safety instrumentation systems market. Owing to growing awareness regarding safety and the emergence of new technologies are leading to high demand for safety instrumentation systems in this region. Rapid industrialization and adopted safety in power generation firms are bolstering the market size of safety instrumentation systems in North America.

Competitive Landscape

Some of the leading players operating in the safety instrumentation systems market include Emerson Process Management (the U.S.), Rockwell Automation (the U.S.), Johnson Controls, Inc. (the U.S.), General Electric Company (the U.S.), Yokogawa Electric Corporation (Japan), OMRON Corporation (Japan), ABB Ltd. (Switzerland), and Tyco International Plc (Switzerland).

The key players are continuously getting indulged in collaborations and other research and development activities to positively innovate the safety instrumentation systems to reduce the risk not to the unrealistic ideal of zero, but to a low level that can be bearable or can be solved later.

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Key Segments in the Safety Instrumentation Systems Market

By Type:

• Safety Switches
• Safety Sensors
• Emergency Stop Devices
• Programmable Safety Devices

By Product Type:

• Emergency Shutdown System (ESD)
• Safety Interlock System
• Safety Shutdown System (SSD)
• Fire and Gas Monitoring and control
• Burner Management System (BMS)
• Turbo Machinery and Control (TMC)

By Application:

• Chemical
• Oil and Gas
• Pharmaceutical
• Paper and Pulp
• Metal and Mining
• Wastewater Treatment
• Food and Beverages
• Power Generation

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

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These problems are leading to the growing concerns regarding the world population, which is creating the need for the development of certain useful measures for controlling the level of noise. This has led to the usage of sound level measurement meters to address the increasing concerns regarding noise pollution.

Owing to the growing number of automobile users, increase in the number of jet planes and rise in the usage of woofers & speakers with high power, there has been a significant increase in problems such as stress, hearing and cardiovascular diseases.

A sound level measurement meter is used for the measurement of acoustics (sound that travels through air). It is a very small device with a microphone. The diaphragm of the microphone reacts to changes in the air pressure that are produced by sound waves.

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Noise at workplaces can cause deafness, which can either be short-term or permanent. While people may recover from short-time deafness after leaving the noisy place, those who continue to be exposed to loud noise are likely to suffer from permanent damage.

Therefore, noise control regulations at workplaces came into force in 2006 to protect workers from the effects of noise. Consequently, new sound level meters should meet the regular standard ANSI S1.4 to either 1 or IEC 61672 to 1.

The overall sound level measurement meter market is extremely fragmented with the presence of a large number of companies. At present, key players of the sound level measurement meter market are focusing on providing products at competitive costs to customers and implementing strategies such as acquisitions and agreements.

Sound Level Measurement Meter Market: Dynamics

Increase in the number of investments by governments to maintain eco-friendliness is boosting the demand for sound level measurement meters. In addition, increase in the number of noise pollution studies for the quantification of different types of noise, especially from the industries, aircrafts and mining, is likely to boost the demand for sound level measurement meters.

Moreover, increasing standards related to noise pollution are expected to spur the demand for sound level measurement meters.

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Sound Level Measurement Meter Market: Market Participants 

Examples of some of the market participants/vendors identified in the global sound level measurement meter market are:

• 3M Company
• Norsonic AS
• Svantek, Inc.
• Testo SE & Co. Kgaa
• CIRRUS Research Plc.
• Tes Electrical Electronic Corp.
• Nti Audio
• Casella, Inc.
• Bruel & KJR
• Rion Co., Ltd.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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The global Cryogenic Systems market is valued at US$ 12.9 Bn in 2021 and is expected to reach US$ 25.5 Bn by 2032, expanding at a CAGR of 6.5% between 2022 and 2032. According to Future Market Insights, market research and competitive intelligence provider, global Cryogenic Systems consumption has increased at a CAGR of roughly 5.1% between 2017 and 2021.

The increased demand for Cryogenic Systems across a wide range of industries, including electronics, healthcare, and power generation, has resulted in a rapid growth rate in the Cryogenic Systems market. Furthermore, due to rising LNG production and strong demand for gases in the healthcare sector, the use of cryogenic systems is expected to increase in the coming years.

The growing demand for cryogenic gases for medical applications will drive market expansion in the coming years. Oxygen gas, for example, is in high demand in the medical business owing to the diagnosis of respiratory illnesses. Growing medical infrastructure and extensive application across a variety of sectors are projected to drive market growth in the next years.

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Key Takeaways from Market Study

• Cryogenic Systems market is estimated to reach a valuation of US$ 13.6 Bn in 2022
• The market is projected to grow at a CAGR of 6.5% during 2022 – 2032
• LNG being the highest revenue-generating cryogen, is expected to register a market growth of 7.8%
• Cryogenic Systems revenue through Energy and Power is projected to expand at a CAGR of 5.7% during the period of projection
• The U.S. is expected to account for nearly 30% of the global Cryogenic Systems demand by 2032

Industries such as aircraft, transportation, and railroads have a high demand for Cryogenic Systems, and this trend is expected to continue in the coming years. Improvements in Cryogenic Systems insulation methods are actively contributing to market growth.

Several governments throughout the world have planned to phase out coal-based electricity by 2020 in order to reduce greenhouse gas emissions. For the reasons stated above, several nations have begun to reduce their reliance on coal and increase their use on natural gas for energy and power generation. Liquefied natural gas (LNG), which contains various segments of Cryogenic Systems such as tanks, is more pleasant to transport and is expected to boost the market throughout the projection period.

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Market Segments Covered in Cryogenic Systems Market Analysis

By Cryogen:

• Nitrogen
• Oxygen
• Argon
• LNG
• Other Cryogen

By End Use:

• Energy & Power
• Chemicals
• Metallurgy
• Electronics
• Shipping
• Other End-Use

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

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During the forecast period, the global hammer mill market is estimated to expand at a CAGR of 4.3%, reaching a valuation of more than US$ 1,106 Mn by 2032.

Hammer mills are good for breaking down hard, dry materials like straw, maize cobs, wood chips, and other fibrous materials. They are suitable for use in residential areas due to their low vibration and noise levels, but they are also an excellent investment for commercial applications due to their long life and low maintenance requirements. Because of their diverse processing capabilities, they can be used in a wide range of industries, and the speed can be adjusted to meet a variety of materials.

These days, hammer mills are becoming increasingly popular. The main reason for this is that they are highly adaptable devices. They can be used for a variety of things, including the production of biomass and feed. They are also extremely effective and capable.

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“Increased machine utilization and demand for high-quality goods in various sectors, as well as the integration of smart devices into equipment, are driving the expansion of the hammer mill market,” says an FMI analyst.

Key Takeaways:

• At a CAGR of 5.8%, the fastest-growing product type is Pneumatic Discharge from 2022 to 2032.
• From 2017 to 2021, the market for Hammer Mill increased at 3.4% CAGR and is expected to grow by 4.3% in 2022
• Over the forecast period, the hammer mill market in Germany is projected to grow at a significant CAGR of 3.9%.
• Over the forecast period, the hammer mill market in agriculture sector is projected to grow at a significant CAGR of 4.2%.
• By Sales Channel, OEM is set to account for more than 95% of the global market
• By 2032, East is estimated to have the largest share of the global market, accounting for more than 48%.

Competitive Landscape

Some of the key hammer mill manufacturers included in the report are Andritz, Sandvik AB, Manfredini & Schianchi Srl, Prater Industries, Kurimoto Group, Hosowaka Micron Corporation, Rasa Corporation, Lehra Fuel Tech Pvt Ltd, Perkin Elmer, Kahl & Schlichterle, Schenck Process Holding Ltd Gmbh, Gebr Bellmer Gmbh Maschinenfabrik and Doppstadt.

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About FMI – Industrial Automation

The industrial Automation division of FMI offers a novel approach and innovative perspective in analyzing industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery across manufacturing sector and distinctive analysis about installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustain, grow and identify new revenue prospects.

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Over the forecast period of 2022-2032, the global pipes market is expected to grow at a CAGR of 4.6% to reach a valuation of US$ 225.5 Bn by the end of 2032. The pipe has applications in drain-waste-vent (DWV), sewers, water mains, water service lines, irrigation, conduit, and various industrial installations.

Significant demand for pipes in various industries, as well as infrastructure development in emerging economies, are expected to drive global demand for pipes. Plumbing pipes are primarily used in residential applications to transport potable water and wastewater.

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Rising Application of Metal Pipes in Commerical Sector to Push the Sales by 5,553 Mn by 2032

Commercial buildings such as hospitals, schools, office buildings, and retail stores often have specialized piping systems for different types of fluids. Industrial plants also have their own specific piping needs depending on the type of manufacturing process taking place.

Rising population is indirectly shaping the infrastructure across the globe. New and ongoing construction requires piping system, which in turn is expected to boost the demand for pipes over the coming years.

The market is witnessing growth due to the increasing demand for new build extensions and project investment in developing countries. The commercial segment is expected to hold the largest share and poised to expand at the highest CAGR during the forecast period.

Key Takeaways from Market Study

• By material type, the metal segment is expected to grow at a CAGR of 8% during the forecast period.
• By diameter, the metal segment is anticipated to dominate the market of pipes and is further expected to account for about 4% of the market share.
• By end-use, the commercial segment is projected create an absolute dollar opportunity worth US$ 67 Bn in between the forecast period.
• In terms of region, pipes sales in Europe are estimated to exhibit a CAGR of 7% over the forecast period (2022-2032).

“Increasing residential  and commercial infrastructure development coupled with growing construction activities, particularly in developing economies such as India and China will create remunerative growth opportunities for pipes manufacturers.” says a Future Market Insights analyst.

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Global Pipes Market Competitive Landscape

Among the industry’s key players are Orbia Advance Corp, ASTRAL POLYTECHNIK Ltd., Geberit AG, Finolex Industries Ltd., Formosa Plastic Corporation, Nan Ya Plastics Corp., Advanced Drainage Systems Incorporated, Polypipe Group Plc, AGRU Kunststofftechnik Gesellschaft M.B.H, FRANK GmbH, Contech Engineered Solutions LLC, Wienerberger AG, Mexichem SAB de CV and others.

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The global screw air end market is set to reach a valuation of US$ 4 Bn in 2022. Expanding at a 4.5% CAGR, the market valuation is set to reach US$ 6.2 Bn by 2032.

According to Future Market Insights, growing usage of screw air compressor will significantly augment sales in the oil and gas, energy and transmission, and automotive and aerospace will augment the growth in the market over the forecast period. As the screw air end is a key unit in a rotary screw air compressor, it is responsible for the compression process of the air after the suction.

Manufacturers are expanding their product lines with new screw air end compressors. These air compressors are designed to be extremely energy efficient; oil-injected screw air end compressors may cut energy usage by up to 50%. This endeavour improves the compressor’s efficiency by 15%, and it’s meant to take up less space, generate less noise, and give 12 per cent more free air than prior models.

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In the Global Screw Air End market categorized based on Technology, the “Stationary” have relative importance than others due to heavy usage in most applications. Stationary compressors are then divided into two segments oil-lubricated and oil-free. Stationary air compressors are a great option for home or professional shops that don’t need the unit to move. Electric variants are especially popular since they require less maintenance, are suitable for indoor usage, and are quieter than gasoline-powered models.

“Rising adoption of oil-free compressors, along with growing impact of insutrial automation across emerging economies will augment the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

• Based on technology, the stationary compressors segment will create an absolute dollar opportunity of US$ 2 Bn over the forecast period.
• By end-use, the oil and gas sector will offer an absolute dollar opportunity of US$ 431.6 Mn over the assessment period.
• Sales in the U.S. screw air end market are forecast to grow at a 3.3% CAGR through 2032.
• India will emerge as a lucrative market, with total sales surpassing US$ 358.9 Mn by 2032.

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Competitive Landscape

The screw air end market is consolidated with leading players acquiring around 55% to 65% of the total market share. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.

Some of the key players in this industry include Atlas Copco, Ingersoll Rand, KOBELCO, Hitachi, KAESER, IHI Rotating Machinery, and others.

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The global absorbent glass mat(AGM) battery market is estimated to garner US$ 18 Billion while exhibiting a 4.8% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 11.2 Billion in 2022.

The primary factor driving the growth of the absorbent glass mat (AGM) battery market is the number of research and development projects conducted by leading manufacturers, as well as the production of maintenance-free and non-spill batteries with long life. The growing global demand for renewable energy projects is also expected to fuel market demand over the forecast period.

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The UPS segment is likely to offer remunerative opportunities for the global absorbent glass mat(AGM) battery market. Several emerging economies are making significant developments in their automotive sector, thereby, providing lucrative opportunities to players in the market.

Key Takeaways:

• By application, the UPS segment is expected to record a 3.8% CAGR by 2032
• By voltage, the 2-4volts segment to expand at a 3.2% growth rate during the forecast period
• The U.S market to garner US$ 6 Billion and record a 4.5% CAGR from 2022-2032
• Market in China to procure US$ 1 Billion, expanding at a 4.1% growth rate during the assessment period

“Rising penetration of renewable energy across grids has boosted the need for efficient and flexible energy storage solutions is expected to fuel the demand of absorbent glass mat (AGM) battery market over the forecast period,” says an FMI analyst.

Competitive Landscape

Eminent players of the global absorbent glass mat (AGM) battery market include Clarios, Power Sonic Corporation, Exide Technologies, C&D Technologies, East Penn Manufacturing Company among others. Recent key developments among players include:

• In November 2021- Clarios entered a strategic collaboration with China Lithium Battery Technology Company (CALB) to develop low-voltage lithium-ion battery systems to address the growing electrical needs of global automaker. The partnership will develop and manufacture low-voltage lithium-ion battery systems with lithium iron phosphate (LFP) cells to support the needs of electric vehicles — combining CALB’s lithium-ion cell expertise with Clarios’ battery system and vehicle integration capabilities.
• In May 2021 – Exide Technologies, updated its Exide Premium range with a modern new black design with new recycled components for reduced environmental impact. The change will lead to savings of 2,700 tons of CO2, 8 million litres of water and 1.2 million litres of crude oil in Exide’s manufacturing each year.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global absorbent glass mat (AGM) battery market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Stationary, Motive) by Voltage (2-4 Volts, 6-8 volts, 12 volts and above) by end-user (OEM, Aftermarket) by Application (Automotive, UPS, Industrial, Energy storage, others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)

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The primary reasons driving the growth of the test and measurement equipment market include an increase in end-user demand for test and measurement equipment solutions, technological innovation, and an increase in demand for electronic gadgets. This is regarded as a fantastic test and measurement equipment strategy.

The market for test and measurement equipment is expected to grow at a CAGR of 3.7% from USD 27.7 billion in 2021 to USD 33.3 billion in 2026.

Government mandates and the growing need for quality maintenance drive up demand for test and measurement equipment. The emergence of COVID-19 prompted an increase in pharmaceutical and medical equipment manufacturing.

This has resulted in increased demand for test and measurement equipment in the healthcare and pharmaceutical end-use industries, resulting in increased demand for test and measurement equipment products and solutions, as well as trends in test and measurement equipment adoption.

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The price sensitivity of test and measurement equipment, on the other hand, is projected to limit test and measurement equipment market growth. During the forecast period, each of these factors is expected to have a significant influence on the test and measurement equipment market.

The introduction of 5G technology and the implementation of LTE & LTE-Advanced (4G) Networks, as well as the rapid penetration of IoT Devices, are expected to give potential possibilities for test and measurement equipment market expansion.

North America has the greatest test and measurement equipment market share due to the presence of multiple significant companies.

Asia-Pacific is predicted to develop at the quickest rate, as governments in these areas implement numerous measures to support innovation and R&D in their respective countries. Given current advancements in connected and driverless vehicles, the automotive industry is likely to capture the test and measurement equipment market share.

The healthcare sector is likely to drive the test and measurement equipment market due to the development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems, which are some of the other factors expected to positively influence the test and measurement equipment market trends.

KEY TAKEAWAYS:

• In the United States, the test and measurement equipment market is estimated to reach US$ 1.3 Billion by 2032, increasing at a CAGR of 10.7% through 2032.

• The test and measurement equipment market in the United Kingdom is expected to be worth US$ 154.2 million by 2032, with a CAGR of 9.8% through 2032.
• The test and measurement equipment market’s services segment form the component category is predicted to develop at a CAGR of 10.4% through 2032.
• Through 2032, Threat Intelligence in the test and measurement equipment market’s application sector will grow at a CAGR of 10.1% through 2032.
• China’s test and measurement equipment market is expected to reach US$ 275.2 million by 2032, with a CAGR of 10.2% through 2032.
• The market for test and measurement equipment in Japan is expected to be valued at US$ 221.9 million by 2032, expanding at a 9.2% annual rate through 2032.

• South Korea is expected to reach a market size of US$ 136.7 million in test and measurement equipment by 2032, with a CAGR of 8.6% through 2032.

COMPETITIVE LANDSCAPE:

Fortive Corporation, Rohde & Schwarz GmbH & Co. KG, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, National Instruments Corporation, EXFO, Inc., Advantest Corporation, VIAVI Solutions Inc., and Texas Instruments Incorporated are among the major companies profiled in the test and measurement equipment market.

These companies provide test and measurement equipment solutions to meet test and measurement equipment market demands and needs.

To extend their influence in the test and measurement equipment market trends, these vendors have used a variety of organic and inorganic growth tactics.

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RECENT DEVELOPMENT:

A couple of recent developments in test and measurement equipment market are as follows:

• VIAVI Solutions released new fibre test and measurement equipment solutions in March 2021, enhancing the industry’s most comprehensive offering for fiber-optic testing. The company’s new optical power metres, fibre characterization modules, and an enhanced optical time-domain reflectometer (OTDR) solution enable service providers, colocation and hyperscale data centres, enterprises, and contractors to reduce manufacturing costs, improve service quality, minimise downtime, and generate more revenue.
• Anritsu introduced the TRX Test module, MU887002A, in March 2021, to increase the efficiency of production-line inspections of 5G wireless communication equipment, as well as its space-saving universal wireless test set, MT8872A.
• As part of its OpreX analyzer lineup for use in water treatment facilities, Yogokawa launched TB820D right-angle scattered light turbidity detectors, FC800D non-reagent type free available chlorine sensor units, RC800D reagent type residual chlorine sensor units, FLXA402T liquid analyzers for turbidity and chlorine, and PG400 pulse generators for clean units in February 2021.

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According to Future Market Insights (FMI), over the forecast period of 2022–2032, the lightning arrester market is expected to grow at a CAGR of 6.5% to reach a valuation of US$ 1,466.7 Mn by the end of 2032. During the projection period, growing focus on electrical equipment safety in the home, as well as other applications like infrastructure, power plants, and others, will play a key role in boosting the lightning arrester market.

Stringent regulatory environment coupled with rising power demand of skyscraper have led to a increased in lightning arrester sales. A lightning arrester is a device that is installed on the electrical system of a building to protect it from damage caused by lightning. The arrestor dissipates the energy of the lightning strike, preventing it from entering the building and causing a fire or electrical shock.

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Rising electricity demand, combined with growing focus on boosting renewable energy installed capacity, is driving utilities to invest in electricity transmission and distribution networks. Owing to which the lighting arrester market is anticipated to gain momentum, as lighting arresters are used as protective equipment in electrical systems.

Countries such as the U.S., China, India, Indonesia, Malaysia, etc. are prone to lightning strikes. Further, according to a study from the National Lightning Safety Institute, there has been a significant increase in lightning-related incidents over the past decade, with more than $2 billion in property damage reported each year. While traditional lightning rods are still the most prevalent kind of protection, lightning arresters are becoming a more popular option since they can protect a larger area for a lower cost.

Key Takeaways from Market Study

• By rating type, above 110 KV sales are expected to remain dominant during the forecast period and will account for more than 40% by 2032.
• By product type, the valve type lightning arrester segment is anticipated to grow with a CAGR of 7.7% through the forecast period.
• By end Use, the power Industry segment is projected to lead the lightning arrester market and is further anticipated to create an absolute dollar opportunity worth US$ 145.9 Mn by 2032.
• In terms of region, lightning arrester sales in South Asia & Pacific are estimated to increase at a CAGR of 7.2%.

“Increasing lighting strokes incidents coupled with growing awareness regarding electrical equipment safety will boost the sales of lightning arresters in the forecast period.” says a Future Market Insights analyst.

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Lightning Arrester Market Competitive Landscape

Among the industry’s key players are Eaton, ABB, Hubbell, GE Grid, Schneider Electric SE, TE Connectivity, Toshiba, and others

The lighting arreter market is moderately consolidated, with leading players accounting for more than 40% of the market share. These players are likely to invest in new technology developments, expansion of their distribution networks, and tie-ups with prominent end-users to maintain their market presence.

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