Published Date : Feb 06, 2017
Albany, NY, Feb 06, 2017: The new market report by MarketResearchReports.biz studies the importance of lightning rods and their advantages in safekeeping power plants, manufacturing plants, and oil and gas plants. The report also offers an overview on the global lightning rods market across geographical regions such as Europe, North and South America, Asia Pacific, and the Middle East and Africa.
The report – titled ‘Global Lightning Rod Market 2017-2021’– estimates that the market will grow at a CAGR of 7.9% by 2021. The report also discusses the competitive landscape, growth prospects, key vendors, and market drivers and challenges.
Lightning can cause a lot of damage to life as well as infrastructure. Carrying around 10 million volts of energy and up to 100,000 amperes of current, lightning protection is a must for any industry. Various industries need protection in the form of lightning rods to safeguard their industrial plants. Lightning rods are being extensively used by commercial buildings as well to protect sensitive and smart devices. The lightning rods provide a specific path for the current to travel directly to the ground, hence protecting the infrastructure and people.
Numerous organizations and commercial and residential constructors are adhering to lightning safety standards, thereby increasing the demand for lightning rods. Majority of manufacturers follow and implement safety standards laid down by various international, national, and regional organizations to deliver adequate protection. On the other hand, the level of awareness in developing economies pertaining to the benefits of lightning rods is still relatively low. They have not yet adopted the important component of lighting protection systems and their property and lives continue to be at risk. This acts as a major impediment to the growth of the market.
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The market is concentrated with few vendors and with better technological innovations, the competition among key players is going to get tougher. To enhance the appearance of buildings, market vendors are offering lightning rods with glass balls and antique designs. In addition, vendors are shifting towards early streamer emission (ESE) technology for improved area protection.
On the basis of end user, the market is segmented into commercial, industrial, and residential. The industrial segment accounted for the largest market share in 2016and is projected to dominate the market in the coming years. Manufacturing plants, nuclear power plants, water and sewage plants, and oil and gas plants need lightning rods to protect them from damage, hence increasing the demand for the same.
Geographically, the Americas is expected to continue leading the market. Due to high frequency of lightning in North America, the demand for lightning rods is always constant. Also, geographical and topological factors lead to regular lightning strikes in the U.S., thereby making it the regional leader.
The key players in the global lightning rod market include East Coast Lightning Equipment, Robbins Lightning, Pentair, A.N. Wallis, Alltec, OBO Bettermann, Lightning Protection International, Kingsmill Industries, Metal Gems, and Thompson Lightning Protection.
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