The Lightning Protection Products Market is driven by increased construction activities
The Lightning Protection Products Market consists of systems and components that protect structures from lightning strikes. Lightning rods, air terminals, grounding systems, and surge protection devices are some commonly used lightning protection products. These products safely conduct lightning discharge into the ground, preventing damage to lives and equipment in buildings. The growing construction of residential, commercial, and industrial infrastructure has increased the demand for integrated lightning and surge protection systems. Stringent building codes and safety regulations in many countries mandate the installation of these products in new structures.
The Global Lightning Protection Products Market is estimated to be valued at US$ 8.18 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Lightning Protection Products market are 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. These companies offer comprehensive lightning protection solutions for various industries and applications.
The growing construction of residential, commercial, industrial and infrastructure projects across the globe is fueling the demand for Lightning Protection Products Market Size. Rapid urbanization and investment in smart city developments in emerging economies provide lucrative opportunities for lightning protection product manufacturers.
Lightning protection product companies are expanding their global presence through strategic partnerships and acquisitions. For instance, in 2022, TE Connectivity acquired the lightning protection business of DEHN to strengthen its position in the European lightning protection market. Several partnerships have been formed between lightning protection product suppliers and EPC contractors to integrate these systems at the design phase of large infrastructure projects.
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