The global U.S. Lightning Product Market is estimated to be valued at US$ 255.7 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: The U.S. Lightning Product Market has a large potential customer base as lightning protection systems are essential in preventing damage to property and infrastructure from lightning strikes. Being one of the first countries to widely adopt lightning rods also means there is existing infrastructure to upgrade and maintain. Technical innovations allow for more efficient lightning protection solutions that are easy to install and integrate with existing buildings.

Weakness: Adoption of advanced lightning protection technologies can be slow among some end users and industries due to lack of awareness and high initial costs perceived. Reliance on copper for manufacturing lightning protection components means fluctuating copper prices pose supply chain risks.

Opportunity: Growth in construction activity across commercial, industrial and residential sectors coupled with building codes mandating lightning protection on critical infrastructure present significant opportunities. Increasing occurrences of severe thunderstorms and lightning strikes driven by climate change boost the need for comprehensive lightning safety measures. Emergence of IoT-enabled lightning detection systems allows for real-time risk monitoring.

Threats: Economic downturns can negatively impact spending on non-essential upgrades and renovations where lightning protection solutions are incorporated. Older buildings present integration challenges. Substitution threat from lesser known manufacturers offering lower cost solutions of unproven quality.

Key Takeaways

The Global U.S. Lightning Product Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by ongoing infrastructure development projects and the strengthening construction industry. Rising safety concerns due to the impacts of climate change have boosted spending on lightning protection solutions across different sectors.

The global U.S. Lightning Product Market is estimated to be valued at US$ 255.7 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030.

Regional analysis: The western U.S. region currently dominates the market owing to frequent thunderstorm activity and an extensive installed base of critical infrastructure and industrial facilities in urgent need of maintenance and upgrades. States such as Texas, Colorado, Utah and California have emerged as major markets.The southern U.S. region is expected to witness the fastest growth through the forecast period with states like Florida and Louisiana among the most lightning-prone in the country.

Key players: Key players operating in the U.S. Lightning Product Market are Elgo Irrigation Ltd., Netafim Ltd., Eurodrip SA, Jain Irrigation Systems Ltd., Hunter Industries, Inc., The Toro Company, and Rain Bird Corporation. These companies have a long-standing presence and hold leading market shares. Product innovations, strong distribution networks and quality manufacturing give them an edge over other small players.

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