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

Regional Analysis

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North America has established itself as the dominant region with 39.1% share in 2024 for the global lightning protection products market. The growth can be attributed to stringent building codes and regulations mandating the installation of lightning protection systems across commercial, industrial and residential infrastructure. Majority of the skyscrapers and tall buildings in the U.S. and Canada are equipped with advanced lightning rods, air terminals, and grounding systems. Furthermore, strong presence of lightning protection product manufacturers such as Franklin Electric, ERICO, and Harger Inc. has cemented North America's leadership position. These companies have leveraged their technical expertise and innovation to develop specialized solutions that address customer requirements and comply with North American standards.

While North America currently leads the global lightning protection products market, the Asia Pacific region is emerging as the fastest growing regional market for lightning protection products. Rapid urbanization and construction boom of industrial facilities, communication towers, power generation plants, and smart cities across developing nations like China, India, and Southeast Asian countries is propelling the demand. The ever-increasing population and changing demographics is attracting huge investments in infrastructure development from public and private entities. At the same time, growing awareness about economic and human losses due to lightning strikes is compelling builders to compulsorily install protection systems as part of their construction projects. Additionally, Asia Pacific governments are promoting the adoption of modern protection technologies by way of certification policies and labelling initiatives. This is encouraging the import of high-tech solutions and components from established global vendors aiming to tap into the massive opportunities in Asia Pacific.