Lightning Protection Systems Market by Technology, End-user, and Geography - Forecast and Analysis 2021-2025

The lightning protection systems market share is expected to increase by USD 97.36 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.05%.

This lightning protection systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers lightning protection systems market segmentation by technology (conventional lightning protection systems and unconventional lightning protection systems) and geography (APAC, Europe, North America, MEA, and South America). The lightning protection systems market report also offers information on several market vendors, including A.N. Wallis & Co. Ltd., ABB Ltd., ALLTEC LLC, DEHN SE + Co KG, Harger Lightning & Grounding, LBA Group, Inc., LightningMaster Corp., NexTek Inc., nVent Electric Plc, and OBO BETTERMANN Holding GmbH & Co. KG among others.

What will the Lightning Protection Systems Market Size be During the Forecast Period?

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Lightning Protection Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post COVID-19 era. The demand from the telecom industry is notably driving the lightning protection systems market growth, although factors such as lack of awareness in developing countries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lightning protection systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Lightning Protection Systems Market Driver

Demand from the telecom industry is one of the key factors driving the growth of the global lightning protection systems market. Earthing, lightning, and surge protection are critical parts of telecommunication facilities. Telecom towers are one of the tallest structures; thus, the probability of lightning strikes is high. A lightning discharge can strike a telecom tower by either direct strikes, coupling through the earth, or electromagnetic fields. When lightning strikes a telecom tower, the grounding system experiences a surge in the voltage as current passes into the earth. This is known as lightning-induced ground potential rise. This potential ground rise contains waves of voltage that ripples out in circular patterns away from the tower base. If a tower is not properly grounded, this high voltage can travel up to certain distances, which can be hazardous to nearby properties and can cause severe damage to equipment instead of dissipating lightning strike energy. This has induced the need for lightning protection systems for telecom towers significantly. Any lightning strike can damage a tower system that is not properly grounded and protected.

Key Lightning Protection Systems Market Trend

The rising number of smart homes will fuel the global lightning protection systems market growth. Smart homes and buildings are equipped with automated features that enable occupants to control devices and electronics remotely. Smart homes include various networks that encompass communications, security, entertainment, and information technology. With an increasing number of sensitive and smart appliances in the residential sector, it is expected to trigger the demand for lightning protection systems for safety purposes. Increasing security needs and changing lifestyles have contributed to the growth of the smart home market globally. Moreover, smart homes are powered by computing devices and IT that connect various appliances and gadgets, which ensure enhanced comfort and convenience to users. Some of the features that are included in smart homes include motion sensors, remote access to lights and other appliances, curtain sensors, audio-video sharing and controls, and control of other smart gadgets. These devices are sensitive, extensively interconnected to each other, and vulnerable to lightning damage.

Key Lightning Protection Systems Market Challenge

Lack of awareness in developing countries is the major challenge for the global lightning protection systems market growth. In developing countries, death and injuries caused by lightning strikes are largely neglected. A labor-intensive economy, tropical climate, and poor infrastructure have led to lightning-related deaths and injuries in developing countries such as India, South Africa, Bangladesh, and Sri Lanka. The lack of good infrastructure and proper lightning protection systems are the key factors responsible for unexpected deaths and injuries due to lightning in these countries when compared with the developed nations. In addition, the growing population, lack of awareness, and unplanned constructions are some factors that hinder the adoption of lightning protection systems. Lightning not only affects the lives of people but also results in damage to properties and devices. In Sri Lanka, lightning affects not only human lives but also animals such as elephants, which are tied to trees and wooden stubs. These animals are susceptible to lightning side flashes and injuries, thus resulting in a reduction in their numbers. Such environmental and ecological issues can be of concern to any country, and therefore there is a need for lightning protection awareness that can be an optimal solution for a safe future.

This lightning protection systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global lightning protection system market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lightning protection systems market during the forecast period.

Who are the Major Lightning Protection Systems Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• A.N. Wallis & Co. Ltd.
• ABB Ltd.
• ALLTEC LLC
• DEHN SE + Co KG
• Harger Lightning & Grounding
• LBA Group, Inc.
• LightningMaster Corp.
• NexTek Inc.
• nVent Electric Plc
• OBO BETTERMANN Holding GmbH & Co. KG

 

This statistical study of the lightning protection systems market encompasses successful business strategies deployed by the key vendors. The lightning protection systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• A.N. Wallis & Co. Ltd. - The company offers lightning protection systems products such as air rods, bimetallic connectors and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The lightning protection systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Lightning Protection Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the lightning protection systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global electrical equipment market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Lightning Protection Systems Market?

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36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the lightning protection systems market in APAC. Market growth in this region will be slower than the growth of the market in regions.

Demand from the telecom industry will facilitate the lightning protection systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The demand for lightning protection systems in new buildings declined in the first half of 2020, owing to a fall in construction activities to contain the spread of COVID-19, which resulted in the shutdown of various industrial and commercial sectors. China, Japan, South Korea, and India are some of the countries that have been severely affected by the COVID-19 pandemic. Governments of many countries in APAC introduced emergency legislation that imposed restrictions on business activities and social gatherings. Essential industries, such as food and beverage, chemicals, and pharmaceuticals, are operating at the usual utilization rates. Thus, the sale of LPS reduced drastically in 2020. The vendors in the market were facing problems related to the supply of raw materials due to lockdowns imposed in 2020. However, most industrial activities, particularly those connected to construction, witnessed a decline in 2020, impacting the market growth. However, lockdowns have lifted in the region, and governments of many countries like China and investing in infrastructural projects. This will help the market to recover during the forecast years.

What are the Revenue-generating Technology Segments in the Lightning Protection Systems Market?

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The lightning protection systems market share growth by the commercial segment will be significant during the forecast period. As commercial buildings deploy sensitive electrical equipment and are also occupied by a substantial number of people, it is critical for building owners to ensure proper lightning protection. Several commercial buildings are multi-storied compared with industrial facilities, thus necessitating the need for lightning protection systems. This has led to the dominance of the global lightning protection systems market by commercial end-users.

This report provides an accurate prediction of the contribution of all the segments to the growth of the lightning protection systems market size and actionable market insights on post-COVID-19 impact on each segment.

 

Lightning Protection Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 2.05%
Market growth 2021-2025	$ 97.36 million
Market structure	Fragmented
YoY growth (%)	1.43
Regional analysis	APAC, Europe, North America, MEA, and South America
Performing market contribution	APAC at 36%
Key consumer countries	US, China, Japan, Germany, and the UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	A.N. Wallis & Co. Ltd., ABB Ltd., ALLTEC LLC, DEHN SE + Co KG, Harger Lightning & Grounding, LBA Group, Inc., LightningMaster Corp., NexTek Inc., nVent Electric Plc, and OBO BETTERMANN Holding GmbH & Co. KG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Lightning Protection Systems Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive lightning protection systems market growth during the next five years
• Precise estimation of the lightning protection systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the lightning protection systems industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of lightning protection systems market vendors

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