The global Lightning Protection Systems market estimated at US$894.3 Million in the year 2022, is now projected to grow at a CAGR of 6.80% and reach US$1.33 Billion by 2028.
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
North America is expected to lead the global lightning protection systems market during the forecast period 2022-2028 due to increasing government mandates to employ lightning protection systems across various public and commercial facilities. Growing demand for electronic devices and increasing home automation technologies will further increase the demand for lightning protection in the building design process. In 2022, United States contributed around 78% of the total North American market. It is estimated to have a market value of US$233.8 Million in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 6.34% and 5.05% respectively over the forecast period.
The lightning protection systems market in the Asia-Pacific region is expected to grow at fastest CAGR over the forecast period. This is primarily due to an increase in investments in modernizing infrastructure and urbanization of population, especially in developing economies such as China and India. China is forecast to reach a projected market size of US$251.6 Million by the year 2028 trailing a CAGR of 9.03% over the forecast period.
Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the market. Germany is projected to grow at a CAGR of 6.95% over the forecast period.
Middle East & Africa (MEA) lightning protection systems market is projected to show considerable growth, owing to increasing investments in smart grids and energy systems. Moreover, aging power infrastructure, technological advancements and rapid industrialization in MEA countries are expected to positively impact growth of the region’s lightning arrester market in coming years.
Major players in the market include A. N. Wallis & Co Ltd.; Alltec Corporation; AXIS Electrical Components Pvt. Ltd.; Fatech Electronic Co., Ltd.; K.M.L. Technology Co., Ltd.; Lightning Eliminators & Consultants, Inc.; Lightning Protection International Pty Ltd.; Littelfuse, Inc.; MTL Instruments Group; NexTek, Inc.; nVent Electric plc and PT. Zeus Prima Garda, among others.
Research Methodology
