LIGHTNING PROTECTION PRODUCTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Global rise in lightning strikes

With climate change resulting in extreme weather patterns across the world, the instances of lightning strikes have seen a significant rise globally in the past few decades. The increased temperatures have led to greater atmospheric disturbances and more volatile conditions that are conducive for lightning storms. Tropical countries and coastal areas closer to the equator that already experience high temperatures are reporting marked jumps in lightning-related incidents. This has naturally led to a greater felt need for effective lightning protection amongst homeowners and industries exposed to this risk.

Furthermore, increasing urbanization around the world has resulted in taller man-made structures that attract lightning strikes. The growth of infrastructure such as skyscrapers, telecom towers, wind turbines, and transmission lines have contributed to escalating risks. While lightning rods and other grounding systems were not a major requirement in the past, the construction of more vertical infrastructure has highlighted the importance of implementing organized lightning protection plans. This is driving a strong demand for specialized products and technical solutions that can safeguard expensive assets from lightning damage.

• 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
• TE Connectivity