February 18, 2025
Lightning Protection

Lightning Protection Products Market Witness High Growth Owing to Increasing Adoption of Standards for Lightning Protection

The Lightning Protection Products Market has witnessed significant growth over the past few years owing to the growing incidences of lightning strikes and development of advanced lightning protection standards. Lightning protection products such as air terminals, grounding systems, conductors, and lightning protection arrestors are integral components that shield buildings and infrastructure from damage. Surging demand from the construction industry owing to the adoption of stringent building codes mandating lightning protection for new constructions is primarily driving the market. Additionally, growing investments in high-rise buildings and rising need for enhanced personnel safety are further fueling sales of these products.

The Global Lightning Protection Products Market is estimated to be valued at US$ 8.18 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the Lightning Protection Products are ABB, A.N. Wallis, Advanced Lightning Protection Systems Ltd., Belkin, Citel, Eaton, Emerson Electric Co., General Electric, Harger Lightning & Grounding, Hubbell, Leviton Manufacturing Co., Inc., LPI Lightning Protection International Pty Ltd, Schneider Electric, Siemens, and TE Connectivity.

Key opportunities: Growing demand for Lightning Protection Products Market Size from new residential & commercial building projects especially in developing nations presents significant growth opportunities for market players. Increasing investments by governments worldwide to develop advanced infrastructure is another major opportunity.

Global expansion: Leading companies are expanding their global footprint by enhancing distribution networks and establishing production facilities across Asia Pacific, Latin America, and Middle East & Africa to cater to the growing local demand. Partnerships and mergers & acquisitions remain key strategies of lightning protection products providers to penetrate untapped regional markets.

Market drivers: One of the Lightning Protection Products Market Size and Trends is the increasing adoption of standards for lightning protection by various industries and regulatory bodies across the globe. Standards such as IEC 62305, National Fire Protection Association (NFPA) 780, and UL 96A mandate effective lightning protection systems for structures, thereby driving the demand for associated equipment and components. Additionally, growing occurrences of lightning strikes worldwide due to climate change are also prompting the need for lightning protection installations.

PEST Analysis

Political: The standards and regulations regarding building construction, electrical supply chain, installation of lightning protection system in buildings influence the market. Various governments across regions regulate the installation of lightning rods and air terminals making the market adhering to certain standards.

Economic: The economic growth of countries and rise in construction activities help in driving the demand for lightning protection products. Factors like inflation, interest rates, currency exchange rates affect the overall spending capacity of end-users.

Social: Rising awareness regarding safety measures for buildings from the damages caused by lightning strikes is a key social factor boosting adoption. Changing lifestyle and increased spending on home security systems also contributes to market growth.

Technological: Development of advanced lightning protection products integrated with IoT technology enables real-time monitoring and early detection of electrical surges. Innovation in materials used for air terminals and conductors improves withstand capability and durability of protection systems.

Geographical regions with high market concentration

The North America lightning protection products market accounted for a major share in terms of value owing to factors such as increased occurrence of thunderstorms and presence of skyscrapers in countries like the US. Europe is another lucrative region driven by strict regulations for lightning protection in industrial and commercial sectors across nations like Germany, UK, France.

Fastest growing region

The Asia Pacific region is expected to witness the highest CAGR during the forecast period. This is attributed to rising construction of smart buildings, power transmission lines and rapid industrialization in developing economies of China, India. Government focus on infrastructure growth and improving safety standards creates massive opportunities for regional and international players.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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