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Market Size and Trends

The global lightning protection products market is estimated to be valued at US$ 4.86 Bn in 2024 and is expected to reach US$ 8.18 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

Lightning Protection Products Market Key Factors

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The lightning protection products market is expected to witness significant growth over the forecast period. Rising infrastructure development activities around the world along with increasing demand from the construction industry are the key factors driving the demand for efficient and effective lightning protection systems. Moreover, the growing importance of implementing safety measures in industries and public places along with strict government regulations regarding lightning protection are prompting various end-use industries to adopt these systems. However, high initial installation and maintenance costs associated with these products may hamper the market growth to some extent over the coming years.

Rising safety awareness

There is growing worldwide cognizance about the dangers posed by unprotected exposure to lightning strikes. While lightning-related casualties were considered acts of nature in the past, advancements in lightning science and technology have enabled evaluating this risk more objectively. Research providing deeper understanding of lightning mechanics and behavior is helping increase education around lightning safety. With easy access to information through digital media and internet, communities across geographies are learning about simple practices which if adhered to, can prevent loss of lives as well as reduce financial losses significantly.

International organizations are also playing an active role in driving conversations around building lightning-resilient structures. They are raising awareness about formulating lightning safety policies and mandating compliance with established lightning protection standards. Several developed countries have already institutionalized lighting safety regulations for public facilities and infrastructure development. This is percolating greater safety consciousness even in less developed markets. There is now widespread recognition that proper lightning protection supported by periodic maintenance can offer strong defense against lightning catastrophes. These attitudes are providing crucial push for the lightning protection products market.

For instance, in June 2021, Alltec Corporation, a premier professional corporation offering top-quality Auxiliary, Data Center, and IT services announced a partnership with E&S Grounding Solutions, a company renowned for its expertise in "gold standard" grounding solutions. This partnership will enable Alltec Corporation to better address its customers' more complex project requirements. Through this collaboration, Alltec Corporation can leverage E&S's world-class knowledge in grounding system design and analysis to provide customers with superior lightning protection, grounding, and grounding-related solutions.

Market Concentration and Competitive Landscape

Lightning Protection Products Market Concentration By Players

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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.

Key Takeaways from Analyst:

The global lightning protection products market is poised to experience steady growth over the coming years. The increasing instances of property damage and loss of life due to lightning strikes are a major driver for the demand of lightning protection products globally. Most countries have made lightning protection mandatory for industrial, commercial, and residential infrastructure, which will further propel the adoption of these systems. However, the market still faces some restraints due to low awareness levels regarding the benefits of lightning protection, especially in developing nations.

North America currently dominates the global lightning protection products market and is expected to maintain its leading position, supported by rising installations in the expanding construction industry. Europe is another top regional market benefitting from stringent norms. Meanwhile, the Asia Pacific region is likely to emerge as the fastest growing regional market with increasing investments in infrastructure and industrialization. Developing countries like India and China offer lucrative opportunities for market players.

System integrators are expected to demand more complete packaged solutions with surge protection devices, grounding systems and air terminals integrated together. Growing preference for concealed and low-profile air termination systems is opening up opportunities for innovations. Furthermore, the use of sensors and IoT-based connectivity in lightning protection solutions can help to remotely monitor systems and improve protective measures.

Market Challenges: High initial installation cost of lightning protection systems

The high initial installation cost of lightning protection systems is one of the major factors negatively impacting the growth of the global lightning protection products market. Installing effective lightning protection on structures requires a significant upfront investment which deters many building owners. A full custom lightning protection system designed and installed by professionals can easily cost thousands of dollars depending on the size and attributes of the structure. Even for smaller residential buildings, installation charge generally ranges between US$1,000 and US$3,000. For large commercial buildings, high-rise structures and industrial facilities, the installation expenses run much higher running into tens of thousands of dollars or sometimes over US$100,000. This high initial capital outlay poses a major financial barrier especially for SMEs and residential homeowners who have limited budgets.

The high installation cost is a deterrent even for those who recognize the need for protection against lightning damage. According to the National Oceanic and Atmospheric Administration (NOAA), lightning causes an estimated US$5 billion in insured losses in the U.S. each year. However, many building owners are unwilling or unable to immediately earmark such large capital only for lightning protection even though postponing can severely increase risk of property damage, financial losses and safety hazards in future. The reluctance to invest such huge initial amounts upfront has slowed down the demand growth for commercially installed complete lightning protection systems.

Market Opportunities: Emergence of new lightning protection technologies

The emergence of new lightning protection technologies is presenting a great growth opportunity in the global lightning protection products market. With increasing incidences of lightning strikes owing to climate change, traditionally installed lightning rods are no longer considered adequate for modern large structures. Newly developed embedded lightning protections systems that can be installed within building materials such as composites and concretes during construction are revolutionizing the industry. These advanced embedded systems ensure direct strikes are safely diverted without external rods that require separate installation.

Lightning Protection Products Market By Product Type

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Insights By Product Type - The Critical Role of Lightning Protection

In terms of product type, air terminals and adaptors is expected to contribute 28.2% of the market share in 2024 owing to its vital importance in diverting lightning strikes safely to the ground. Air terminals, as the first line of defense, work to intercept lightning and guide the surge of electricity safely down conductors without damage to structures. Their lightning receptors effectively dissipate electrical charges from thunderstorms, redirecting the flow of current away from buildings. Given increasing lightning activity due to climate change, air terminals remain a frontline necessity for facilities seeking reliable shelter from the elements. As natural disasters intensify worldwide, demand is strong for the basic protections air terminals afford.

Insights By Application - Powering Infrastructure Safely

In terms of application, electric power is expected to contribute 35.1% of the market share in 2024 due to its dependence on uninterrupted operations. With electricity grids spanning vast regions aboveground, lightning strikes pose functional risks that can disrupt service and damage costly equipment if not safely conducted to earth. The immense power of lightning necessitates comprehensive protective measures for transmission towers, substations, and other exposed utility assets. To maintain resilience against the forces of nature, prevent costly outages, and ensure continued delivery of this vital resource, robust lightning grounding remains an imperative investment for the electric power industry.

Insights By End-use - Industrial Protection is Paramount

In terms of end-use, industrial is expected to contribute 37.8% of the market share in 2024 owing to productivity and liability concerns. From manufacturing plants to oil rigs, industrial sites concentrating large capital assets require optimal sheltering to minimize disruption. Unplanned downtime at industrial facilities can halt revenue-generating work and place stringent guarantees in jeopardy. Moreover, electrical hazards endanger workers and equipment alike on industrial grounds. Comprehensive lightning protection systems are thus incorporated to high standards to safeguard people, limit liability, and keep operations smoothly on track. As industries increasingly digitize processes, reliable shelter from surges grows ever more paramount to productivity and business continuity.

Regional Insights

Lightning Protection Products Market Regional Insights

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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.

Market Report Scope

Lightning Protection Products Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 4.86 Bn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 7.7% 2031 Value Projection: US$ 8.18 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: South Africa, GCC Countries, Israel, and Rest of Middle East & Africa
Segments covered:
  • By Product Type: Air Terminals and Adaptors, Conductors, Fittings and Connectors, Grounding Equipment, Surge Protectors, and Others
  • By Application: Building and Factories , Electric Power, Transportation, Oil and Gas, and Others
  • By End-use: Residential, Commercial, and Industrial 
Companies covered:

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

Growth Drivers:
  • Rising safety awareness
  • Global rise in lightning strikes
Restraints & Challenges:
  • Rising safety awareness
  • Global rise in lightning strikes

Key Developments

  • In May 2024, ABB and Niedax Group, a provider of cable management solutions announced the formation of a joint venture to meet the increasing demand for cable tray systems in North America. This strategic partnership combines the strengths and expertise of both companies to provide high-quality cable management solutions tailored to the needs of the North American lightning protection products market.
  • In April 2024, HarGround introduced two new grounding connectors - CGCRFE and CGFEXCR. These connectors are made of a high-strength copper alloy, making them well-suited for high-compression grounding applications.
  • In October 2021, Raycap, a global supplier of electrical components for surge protection, communication, and monitoring, announced the expansion of its 2-in-1 surge protection product line. The new RaycapProTec T1SF arrester, featuring an integrated backup fuse, not only reduces the required space in control cabinets but also simplifies installation and maintenance processes, ultimately leading to lower overall costs for customers.
  • In July 2021, Streamer announced that the lightning protection device it developed has passed certification tests at CEPRI (Wuhan), which is owned by the State Grid Corporation of China (SGCC). This device will be supplied to SGCC sites.

*Definition: The global lightning protection products market comprises components and accessories that are installed to protect buildings and structures from lightning strikes. This includes air terminals, conductors, lightning rods, metal lightning strike conductor pipes, lightning strike sensors, and surge protection devices. These products are installed on commercial buildings, residential homes, infrastructure facilities, oil and gas industry installations, wind turbines, and spacecraft to shield them from the high-energy lightning strikes and dissipate the lightning currents safely to the ground. The aim of this lightning protection products market is to provide protection solutions against lightning damage risks.

Market Segmentation

  • Product Type Insights (Revenue, US$ Bn, 2019 - 2031)
    • Air Terminals and Adaptors
    • Conductors
    • Fittings and Connectors
    • Grounding Equipment
    • Surge Protectors
    • Others
  •  Application Insights (Revenue, US$ Bn, 2019 - 2031)
    • Building and Factories
    • Electric Power
    • Transportation
    • Oil and Gas
    • Others
  •  End-use Insights (Revenue, US$ Bn, 2019 - 2031)
    • Residential
    • Commercial
    • Industrial
  • Regional Insights (Revenue, US$ Bn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC Countries
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Key Players Insights
    • 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

Frequently Asked Questions

The CAGR of the global lightning protection products market is projected to be 7.7% from 2024 to 2031.

Rising safety awareness and global rise in lightning strikes are the major factors driving the growth of the global lightning protection products market.

High initial installation cost of lightning protection systems and difficult installation process of conventional lightning protection systems are the major factors hampering the growth of the global lightning protection products market.

In terms of product type, air terminals and adaptors is estimated to dominate the market revenue share in 2024.

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 are the major players.

North America is expected to lead the global lightning protection products market in 2024.

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