Global Lightning Protection Systems Market 2017-2021
About Lightning Protection Systems
A lightning protection system is an integral part of the overall safety system of a building. It is designed to protect a structure from damages caused by lightning fires, high-voltage currents, and surges. Lightning protection system consists of three major components, including lightning rods, conductor cables, and ground rods. Lightning rods are the initial point of contact for a lightning strike. Down-conductors are connected to air terminals, providing a safe path to the ground rods; these ground rods disintegrate the lightning strike into the earth.
Technavio’s analysts forecast the global lightning protection systems market to grow at a CAGR of 5.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global lighting protection systems market for 2017-2021. To calculate the market size, the report considers the sales value of the overall lightning protection systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lighting Protection Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global lighting protection systems market: A.N. Wallis & Co, ABB, DEHN, and Pentair.
Other Prominent Vendors in the market are: Alltec, East Coast Lightning Equipment, Kingsmill Industries, Lightning Master, Metal Gems, and OBO BETTERMANN.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising number of smart homes. Smart homes and buildings are equipped with automated features that enable occupants to remotely control devices and electronics. Smart homes include various networks that encompass communications, security, entertainment, and information technology. With increasing number of sensitive and smart appliances in the residential sector, it is expected to trigger the demand for lightning protection systems for safety purposes. Increasing security needs and changing lifestyles have contributed to the growth of smart homes market globally.”
According to the report, one of the major drivers for this market is strong demand from commercial end-users. Commercial end-users include buildings such as office buildings, educational institutions, shopping malls, churches, museums, aircraft, telecom towers, and hospitals. Lightning strikes can damage walls and concrete, as well as create fire accidents. This results in economic losses in terms of insurance claims, fire damage, destruction of equipment, and production losses. It is observed that 3% to 6% of all commercial insurance claims are related to lightning accidents. Owing to the safety regulations by various international safety authorities, owners and builders comply with these standards for lightning protection.
Further, the report states that one of the major factors hindering the growth of this market is lack of awareness in developing countries. In developing countries, death and injuries caused by lightning strikes are being largely neglected. A labor-intensive economy, tropical climate, and poor infrastructure have led to lightning-related deaths and injuries in developing countries such as India, South Africa, Bangladesh, and Sri Lanka. The lack of good infrastructure and proper lightning protection systems are the key factors responsible for unexpected deaths and injuries due to lightning in these countries when compared with the developed nations.
A.N. Wallis & Co, ABB, DEHN, Pentair, Alltec, East Coast Lightning Equipment, Kingsmill Industries, Lightning Master, Metal Gems, and OBO BETTERMANN.
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