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Lightning Protection Systems Drive Growth Accelerated by Increased Investments in Infrastructure Projects

Sneha

Lightning Protection Systems Drive Growth Accelerated by Increased Investments in Infrastructure Projects

Lightning protection systems provide seamless and effective protection against lightning strikes and surges for critical infrastructure and industrial facilities. They comprise of air terminals, tape or rods to intercept incoming lightning, grounding system, and lightning conductors to convey the energy to earth. Growing construction of telecommunication towers, warehouses, data centers, manufacturing facilities, and smart buildings is spurring demand for these systems.

The global U.S. Lightning Product Market is estimated to be valued at US$ 255.7 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased investments by both government and private players in infrastructure development across sectors like energy & power, transportation and construction is one of the key trends propelling the growth of the U.S. Lightning Product Market. Vast infrastructure projects such as expansion of road and rail network, construction of new airports and smart cities involve creation of several tall structures prone to lightning strikes. This is driving the need for effective lightning protection installations. Various states in the U.S. have laid out ambitious plans for modernizing and developing transportation, telecommunication and energy distribution infrastructure over the coming years, which will consistently translate into demand for lightning protection systems.

Segment Analysis

The U.S. Lightning Product Market is dominated by open field segment contributing over 55% of the total market share in 2023. The open field segment leads due to high usage of lighting products across vast open agricultural lands and farms for crop cultivation. Drip irrigation segment is expected to witness highest growth during the forecast period owing to rising adoption of water saving irrigation methods and growing prominence of precision agriculture practices in the country.

Key Takeaways

The U.S. Lightning Product Market Growth is expected to witness high. The global U.S. Lightning Product Market is estimated to be valued at US$ 255.7 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030.

Regional analysis:

The Western region held the largest share of over 35% in the U.S. Lightning Product Market in 2023 owing to presence of vast agricultural lands for cultivation of crops like fruits and vegetables. The Southern region is anticipated to showcase fastest growth during the forecast period with a CAGR of over 20% backed by increasing government initiatives for development of modern agricultural infrastructure and adoption of advanced lighting solutions across the greenhouse and open field segments in states like Florida and Texas.

Key players:

Key players operating in the U.S. Lightning Product Market are Elgo Irrigation Ltd., Netafim Ltd., Eurodrip SA, Jain Irrigation Systems Ltd., Hunter Industries, Inc., The Toro Company, and Rain Bird Corporation. Hunter Industries, Inc. leads the market with over 15% share owing to strong brand presence and wide distribution network across key agricultural regions of the country.

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Sneha

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