As per A latest analysis on the global lightning protection technologies (LPT) market by skilled analysts at Fact.MR, demand for lightning protection systems is anticipated to rise at a steady CAGR of nearly 5% over the next ten years. The survey reveals that the LPT industry was estimated to be valued at approximately US$ 800 Mn in 2020. At present, the U.S. accounts for around 20% of the global market share.
Rise in construction of tall structures due to rapid urbanization and industrialization all across the globe is expected to drive demand for lightning protection technologies, as tall structures are more prone to lightning damage. Telecommunication infrastructure is also very susceptible to damage via fluctuations caused due to lightning, and stringent regulations by governments will contribute to rise in demand for lightning protection technologies.
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Key Takeaways from Market Study
- Global market for lightning protection technologies to expand at CAGR of around 5% over the decade.
- The U.S. is expected to account for approximately 20% of the global LPT market share.
- Rapid urbanization and increasing industrialization are majorly driving demand for LPT.
- Market in China for lightning protection technologies is anticipated to rise at a CAGR of nearly 6%.
“Surging urbanization and ever-increasing industrialization are expected to be the main factors increasing the need for lightning protection technologies across regions,” says a Fact.MR analyst.
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Competitive Landscape
Some of the new product launches are:
- National Renewable Energy Laboratory (NREL) scientists in collaboration with General Electric and LM Wind Power have developed a new lightning shield for wind turbine blades, which can divert up to 80% of a lightning strike’s current away.
- Meizu recently announced the launch of new Lipro smart home products that are already equipped with a lightning protection design.
Prominent Key players of the Lightning Protection Technologies (LPT) market survey report:
- Alltec Corporation
- Fatech Electronic Co.
- Pentair Plc
- AXIS Electrical Components Pvt. Ltd.
- MTL Instruments Group
- NexTek Inc.
- Harger Inc.
Segmentation of LPT Industry Research
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On the Basis of Type:
- Dissipation Array Systems
- Early Streamer Emitters
- Charge Transfer Systems
-
On the Basis of End User
- Use of Lightning Protection Technologies in Commercial Sector
- Use of Lightning Protection Technologies in Industrial Sector
- Use of Lightning Protection Technologies in Residential Sector
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Questionnaire answered in the Lightning Protection Technologies (LPT) Market report include:
- How the market for Lightning Protection Technologies (LPT) has grown?
- What is the present and future outlook of the global Lightning Protection Technologies (LPT) on the basis of region?
- What are the challenges and opportunities for the Lightning Protection Technologies (LPT)?
- Why the consumption of Lightning Protection Technologies (LPT) highest in region?
- In which year segment is expected to overtake segment?
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