Dublin, March 11, 2021 (GLOBE NEWSWIRE) -- The "Lightning Protection Technologies (LPT) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The Pandemic Strikes an Unprecedented Lightning Blow to Lightning Protection Technologies. Market Slumps by -7.1%.
The global market for Lightning Protection Technologies is expected to decline by -7.1% in the year 2020 before recovering to reach US$ 1.1 billion by the year 2027, trailing a post COVID-19 CAGR of 4.8% over the analysis period 2020 through 2027.
Postponements of Infrastructure development projects have come as a heavy blow for building material manufacturers and suppliers. Transport restrictions have additionally played their role in disrupting production and supply of construction materials. Real estate, both commercial & residential, is collapsing under the weight of falling consumer disposable incomes and plummeting business confidence.
Lightning protection devices such as lightning arrester rod and lightning conductor which are installed on buildings to protect against voltage surges are therefore feeling the heat of disruptions consuming the construction industry. While the healthcare industry is likely to deliver a decent performance, lack of tax rebates for retrofit installations is expected to reduce investment in retrofit installations in industry and commercial verticals.
Lightning strikes hold negative economic implications owing to their impact on facilities and other structures, leading to heavy disruptions and losses. The Earth experiences around 100 lightning strikes per second, which culminates into over eight million strikes per day. The US witnesses around 25 million incidents of lightning strike a year.
The annual loss associated with unplanned downtime for the major businesses in the US has been estimated at $2.5 billion, which is considerably higher than deployment cost of lightning protection systems. The impact of lightning strikes increases sharply when the cost to small- to medium-sized businesses is also included. The overall cost related to lightning strikes to US property and industry is projected to be around 8-10 billion per year.
The US economy and industry relies heavily on the electronic and telecommunication infrastructure. However, these digital assets and infrastructure are susceptible to the damage caused by lightning or transient currents. The increasing incident of these strikes along with heavy economic consequences creates the need to properly absorb or control lightning strikes.
There are advanced technologies to offer effective protection for facilities and buildings from lightning strikes. The integration of sophisticated technologies for potential equalization, grounding, surge protection, lightning warning and structural lightning protection can reduce the damage and save billions of dollars per year.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Pandemic Impacts Lightning Protection Market
Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
An Introduction to Lightning Protection Technologies
Components of Lightning Protection System
Types of Lightning Protection Systems
Building Codes & Standards for Lightning Protection Systems
Major End-Markets for Lightning Protection Systems
Lightning: A Spectacular yet Destructive Natural Phenomenon
Key Lightning Facts
Global Lightning Protection Technologies - Growth Drivers and Challenges in a Nutshell
Global Lightning Protection Systems Market to Exhibit Long Term Growth
Recent Market Activity
Pressing Need to Mitigate & Manage Lightning Strike Risks
Market to be Driven by Increased Demand for LPT Installation in Commercial Facilities
Comprehensive Solution and Improved End-User Experience to Drive Market
Ignorance of Lightning Protection: Major Restraint in Developing and Under Developed Countries
Installation and Functionality of LPT: Core Areas of Consideration
Sluggish Technological Advancements Restraining LPT Market
Lack of Harmonization in LPT Standards Leads to Obscurity and Uncertainty
LPT Efficacy Data Empirical Rather Than Scientific
2. FOCUS ON SELECT PLAYERS(Total 119 Featured):
A. N. Wallis & Co Ltd.
AXIS Electrical Components Pvt. Ltd.
Fatech Electronic Co., Ltd.
K.M.L. Technology Co., Ltd.
Lightning Eliminators & Consultants, Inc.
Lightning Protection International Pty Ltd.
MTL Instruments Group
nVent Electric plc
PT. Zeus Prima Garda
3. MARKET TRENDS & DRIVERS
Construction Activity: A Key Demand Determinant
Growth in Smart Home Numbers Drive the Need for Lightning Protection Solutions
Growing Population & Urbanization Trend Influence Market Prospects
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
LPT Providers Benefit from Rising Demand for Wind Energy
Wireless Antenna Industry Drives Demand for LPT
Lightning Protection Standards and Guidelines
Global Lightning Protection Codes and Standards
LPI Certified Designers & Installers
International Lightning Protection Association (ILPA)
FAA Lightning Protection Standards
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Lightning Insurance Reimbursement Scenario
Assessment of Life and Property Damage by Lightning Fires in the US
Urbanization Brings Down Lightning Fatalities
Lightning Death Statistics in the US
Lightning Protection Standards Drive Growth
Lightning Protection Standards Drive Demand in Europe
Standards for Design, Installation and Maintenance of Lightning Protection Systems (LPS) in Select European Countries
REST OF EUROPE
Asia-Pacific to Power Growth of Global Lightning Protection Technologies Market
Asia-Pacific Standards for Design, Installation and Maintenance of Lightning Protection Systems (LPS) in Select Asian Countries
Urban Constructions to Drive Demand for Lightning Protection Systems
REST OF ASIA-PACIFIC
Tall Building Structures Drive Demand for Lightning Protection in Middle East
REST OF MIDDLE EAST
South Africa: More Lightning Deaths than Elsewhere in the World
Total Companies Profiled: 223
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