Lightning Rod

Lightning Rod

Lightning rods are a type of electrical safety device designed to protect buildings and structures from lightning damage. They are typically made of metal and are installed on the highest point of a building or structure, such as the roof or tower. The primary function of lightning rods is to intercept lightning strikes and conduct the electrical energy safely to the ground. This is achieved using a conductive material, such as copper or aluminum, which is designed to attract and conduct lightning strikes. Overall, lightning rods are an important safety measure that can help protect buildings and structures from the damaging effects of lightning strikes. They are a reliable and effective way to minimize the risk of property damage and personal injury caused by lightning.

The Lightning Rod Market is expected to grow at a strong CAGR of around 11.56% owing to the increasing number of high-rise infrastructures. Furthermore, with the global construction industry growing at a steady pace, the demand for lightning rods is also increasing. As more buildings and structures are being constructed, there is a greater need for electrical safety devices, including lightning rods. Moreover, the increasing use of aircraft and watercraft has increased the demand for lightning rods. These rods are essential for protecting these vehicles from lightning strikes, which can cause severe damage to their electrical systems and pose a safety risk to passengers and crew. They are particularly important for aircraft and watercraft because they are often exposed to open skies and bodies of water, making them more susceptible to lightning strikes. Additionally, the rising demand for renewable energy infrastructure is driving the growth in the market for lightning rods. As more wind turbines, solar farms, and nuclear power plants are installed, the need for lightning protection will continue to increase. This presents a significant opportunity for companies in the lightning rod industry to capitalize on this growing trend. For instance, as per the International Energy Agency (IEA), by 2022, the record-breaking increase in wind electricity generation by 265 TWh (14%) secured it a place as the second highest growth among renewable power technologies, behind solar PV. Striving for a Net Zero Emissions by 2050 Scenario, however, necessitates an average annual generation growth rate of approximately 17%. To make this a reality, the annual capacity increase from 75 GW in 2022 needs to be increased to 350 GW in 2030.

• Based on type, the market is segmented into air-termination lightning protection systems, meshed conductor lightning protection systems, catenary wire lightning conductors, streamer emission lightning conductors, and others. Among the different types of air-termination lightning protection systems, meshed conductor lightning protection systems are the most widely used and hold most of the market share. The primary factor that is responsible for this domination is meshed conductor lightning protection systems consisting of a network of conductive wires or cables that are installed on the highest point of a structure, such as a tower or chimney. These wires or cables are designed to intercept lightning strikes and safely conduct them to the ground. Furthermore, meshed conductor lightning protection systems provide increased protection compared to other types of lightning rods. This is because the mesh of conductors creates a continuous and constant pathway from the top of the structure to the ground. Additionally, meshed conductor lightning protection systems also provide better coverage than other types of lightning rods. This is because the mesh of conductors covers the entire roof and walls of the structure rather than just a few points. These are some of the factors that are responsible for the rising demand for meshed conductor lightning protection systems and can also be seen in the recent product launches in this space.
• Based on application, the market is segmented into towers, space shuttle launch pads, factories, buildings, telecommunication infrastructure, solar and wind energy facilities, and others. The renewable energy sector, specifically solar and wind energy facilities, is growing the fastest and showing rapid growth rates generating the maximum demand for lightning rods in the market. Several factors are driving this growth in the industry, such as government policies and support, where many governments around the world have implemented policies and incentives in terms of feed-in tariffs, tax credits, grants, and renewable portfolio standards promoting the adoption of renewable energy. Furthermore, advances in solar and wind energy technologies have made them more efficient and cost-effective. Improved solar panels, wind turbines, and energy storage systems have contributed to the growth of the sector. Moreover, the rising global demand for electricity, coupled with the need for cleaner and sustainable energy sources, has driven the growth of solar and wind energy. Additionally, the cost of solar and wind energy has significantly decreased in recent years. The declining costs of equipment, installation, and maintenance make renewable energy more economically viable and attractive to investors. These are some of the factors that are responsible for the rising investments in renewable energy infrastructures across the globe, especially in the wind and solar industry, which in turn is further generating huge demand for lightning rods in the market and presents a huge growth opportunity as well in for the lightning rod industry.
• Based on end-user, the market is segmented into commercial, industrial, and residential. The industrial segment is anticipated to witness significant growth during the forecasted period in CAGR terms. The growth of industrial activity is due to a variety of factors, including rising demand for goods and services, demand for goods and services has been on the rise in recent years, driven by population growth, economic development, and changing consumer preferences. This has led to an increase in production. Furthermore, advances in technology have enabled companies to produce goods and services more efficiently and cost-effectively. Automation, robotics, and artificial intelligence have allowed companies to reduce costs and increase productivity, giving a boost to the industry. Additionally, companies and governments are investing heavily to increase their production capacity and add new plants for manufacturing goods as per changing global and demand scenarios, and governments have thik invested in infrastructure, such as roads, bridges, and ports, to facilitate the movement of goods and services. With all these tailwinds driving industrial growth, rapid investments are getting channeled towards the development of manufacturing facilities, which in turn is driving the demand for sophisticated lightning rods to safeguard their equipment and employees from any kind of accidents and equipment failure.
• For a better understanding of the market adoption of the electric off-highway vehicle market, the market is analyzed based on its worldwide presence in countries such as North America (The U.S., Canada, and the Rest of North America), Europe (Germany, The U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific's lightning rod market is going to grow fastest at a significant CAGR during the forecast year. The primary factors responsible for this growth are growing infrastructure development in the region where countries such as China, India, Taiwan, Thailand, etc. are investing heavily in their infrastructure to create favorable conditions for efficient manufacturing to become manufacturers for the world. Furthermore, renewable energy capacity additions such as wind and solar farms are highest in this region, with China leading the charge. For instance, as of 2021, China installed almost 47,000 megawatts of wind power capacity which was the highest in the world whereas the USA was only at almost 12,000 megawatts capacity. Moreover, the thriving service industry of these countries is also contributing to this growth, as with the growing services industry the demand for commercial spaces is also increasing, which in turn is driving up the demand for the lightning rods in the region.
• Some of the major players operating in the market include Holland Shielding Systems BV; France Paratonnerres; TECHNOLOGICAL APPLICATIONS SA; Sutter Instrument Company; Thorlabs, Inc.; LBA Group, Inc.; ABB; Wardray Premise; Harger Lightning & Grounding; and Kingsmill Industries (UK) Ltd