According to Technavio’s latest market research study, the global lightning rod market is expected to grow at a CAGR of close to 8% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global lightning rod market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user type
Source: Technavio
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The top three revenue contributing end-user segments are discussed below
Global lightning rod market for industrial end-users: The industrial segment is comprised of end-users such as manufacturing plants, water and sewage plants, nuclear power plants, and oil and gas companies. The high consumption of lightning rods among industrial end-users is attributable to the high risks involved in the industry segment.
“Vendors in the market are now offering lightning rods with accessories and designs to cater to the rising demand for lightning rods that are also aesthetically pleasing. According to our analysts, the demand for lightning rods with motifs is likely to be higher than the demand for lightning rods without motifs,” says Abhay Sinha, a lead analyst at Technavio.
Global lightning rod market for commercial end-users: Commercial end-users of lightning rods include office buildings, educational institutions, shopping malls, churches, museums, and hospitals. The presence of sensitive electrical equipment and a substantial number of people in commercial buildings is the primary driving force behind the adoption of lightning rods in this segment. Increasing adoption of safe construction practices is also expected to propel the demand for lightning rods from the commercial end-user segment during the forecast period.
Global lightning rod market for residential end-users: Residential end-users of lightning rods include apartment buildings, individual houses, row houses, and residential colonies. The adoption of lightning rods is relatively more prominent in developed regions. The anticipated rise in the demand for products with decorative motifs is predicted to augment the demand for lightning rods from residential end-users during the forecast period.
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Top vendors operating in the global lightning rod market are:
- Pentair
- A.N. Wallis
- Alltec
Other prominent vendors in the market include East Coast Lightning Equipment, Harger Lightning & Grounding, Kingsmill Industries, Lightning Protection International, Metal Gems, OBO Bettermann, Robbins Lightning, and Thompson Lightning Protection.
A more detailed analysis is available in the Technavio report titled, ‘Global Lightning Rod Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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