Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) — The “Lightning Protection Technologies (LPT) – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Lightning Protection Technologies (LPT) Market to Reach $1.4 Billion by 2030
The global market for Lightning Protection Technologies (LPT) estimated at US$891.2 Million in the year 2022, is projected to reach a revised size of US$1.4 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2022-2030. Conventional, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$874.6 Million by the end of the analysis period. Growth in the Unconventional segment is estimated at 4.7% CAGR for the next 8-year period.
Lightning protection technologies (LPT) are essential systems designed to mitigate and manage the risks associated with lightning strikes. This report provides an introduction to these technologies, offering insights into their components, types, and the building codes and standards that govern them. It also highlights major end-markets for lightning protection systems (LPS).
Lightning is a spectacular yet destructive natural phenomenon, and the report shares key facts about lightning to underscore its significance. It explores the growth drivers and challenges facing the global lightning protection technologies market.
The market for lightning protection systems is expected to exhibit long-term growth, driven by the pressing need to mitigate and manage the risks of lightning strikes. Commercial facilities are increasingly adopting LPT installations, which is contributing to market growth. Comprehensive solutions and improved end-user experiences are also driving the market forward.
However, there are challenges to address in the lightning protection technologies market. Ignorance of lightning protection remains a major restraint, particularly in developing and underdeveloped countries. Installation and functionality of LPT systems are core areas of consideration, and sluggish technological advancements are restraining market growth. The lack of harmonization in LPT standards leads to obscurity and uncertainty, while efficacy data for lightning protection technologies are often empirical rather than scientific.
The U.S. Market is Estimated at $171 Million, While China is Forecast to Grow at 6.7% CAGR
The Lightning Protection Technologies (LPT) market in the U.S. is estimated at US$171 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$271.3 Million by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 527 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $891.2 Million |
| Forecasted Market Value (USD) by 2030 | $1400 Million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Construction Activity: A Key Demand Determinant
- World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
- Growth in Smart Home Numbers Drive the Need for Lightning Protection Solutions
- Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Global Smart Homes Market by Category for the Years 2020 and 2022
- Growing Population & Urbanization Trend Influence Market Prospects
- Opportunity Indicators
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
- Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
- Relevance of Lightning Protection in Industrial Facilities
- Opportunities in Commercial Buildings
- Next-Generation Lightning Protection with Lasers
- Aircraft Industry: A Prominent Consumer of LPTs
- Rising PV Installations Up the Demand for LPTs
- Innovative LPT Crucial to Combat Petrochemical Tank Fires
- Global Petrochemical Tank Fires by Cause (2019): Percentage Breakdown of Number of Events for Human Activity, Lightning, Static Electricity, Other Natural Calamities and Unknown
- LPT Providers Benefit from Rising Demand for Wind Energy
- World Wind Power Market (2019): Percentage Breakdown of Installed Capacity for Leading Countries
- Wireless Antenna Industry Drives Demand for LPT
- Lightning Protection Standards and Guidelines
- Global Lightning Protection Codes and Standards
- A Regional Overview
- Standards for Design, Installation and Maintenance of Lightning Protection Systems (LPS) in Select Countries Worldwide
- Certification Process
- LPI Certified Designers & Installers
- International Lightning Protection Association (ILPA)
- FAA Lightning Protection Standards
FOCUS ON SELECT PLAYERS(Total 119 Featured)
- Bourns, Inc.
- API Technologies Corporation
- APC by Schneider Electric
- HUBER+SUHNER AG
- INAEL Electrical Systems SA (INAEL)
- Alltec LLC
- Clearline Protection Services (Pty) Ltd.
- DEHN SE + Co KG
- Fatech Electronic (Foshan) Co., Ltd.
- Harger Lightning & Grounding
- INGESCO
- Elemko SA
- Cirprotec SL
- Ennov Infra Solutions Private Ltd.
- Exar Industries
For more information about this report visit https://www.researchandmarkets.com/r/wchk80
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- Lightning Protection Technologies (LPT) Market
