Lightning Protection Technologies (LPT) Global Market Report 2023: Innovative LPT Crucial to Combat Petrochemical Tank Fires

DUBLIN, March 3, 2023 /PRNewswire/ — 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

In the changed post COVID-19 business landscape, 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. Taking into account the ongoing post pandemic recovery, growth in the Unconventional segment is readjusted to a revised 4.7% CAGR for the next 8-year period.

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.

Select Competitors (Total 119 Featured) –

• A. N. Wallis & Co Ltd.
• Alltec Corporation
• AXIS Electrical Components Pvt. Ltd.
• Fatech Electronic Co., Ltd.
• K.M.L. Technology Co., Ltd.
• Lightning Eliminators & Consultants, Inc.
• Lightning Protection International Pty Ltd.
• Littelfuse, Inc.
• MTL Instruments Group
• NexTek, Inc.
• nVent Electric plc
• PT. Zeus Prima Garda

What`s New for 2023?

• Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies – Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. 

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• 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
• Market Challenges
• 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
• Lightning Protection Technologies (LPT) – Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

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
• Opportunity Indicators
• 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

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

A selection of companies mentioned in this report includes

• A. N. Wallis & Co Ltd.
• Alltec Corporation
• AXIS Electrical Components Pvt. Ltd.
• Fatech Electronic Co., Ltd.
• K.M.L. Technology Co., Ltd.
• Lightning Eliminators & Consultants, Inc.
• Lightning Protection International Pty Ltd.
• Littelfuse, Inc.
• MTL Instruments Group
• NexTek, Inc.
• nVent Electric plc
• PT. Zeus Prima Garda

For more information about this report visit https://www.researchandmarkets.com/r/m2b60r

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