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Need to Minimize Damages from Lightning Strikes Drives the Global Market for Lightning Protection Technologies, According to New Report by Global Industry Analysts, Inc.

July 6, 2012

GIA announces the release of a comprehensive global report on Lightning Protection Technologies (LPT) markets. The global market for Lightning Protection Technologies is projected to reach US$1.05 billion by 2018, spurred by significant rise in number of lightning strikes, fatalities as well as mounting infrastructure losses in recent years. The urgent need to minimize huge loss of life and property underscores the importance of immediate and effective measures for installation and development of Lightning Protection Systems. Technological advancements, Government legislatures, clear architectural guidelines and greater adoption by developing markets will provide added impetus to the global LPT market. Industrialization and rapid development of infrastructure will also facilitate in delivering long-term gains.

San Jose, California (PRWEB) July 06, 2012

Follow us on LinkedIn — Across the world, there has been an unprecedented increase in the number of lightning strikes in recent years. Scientists attribute the intensifying lightning patterns to extreme weather conditions triggered by global warming and climatic imbalance. This increase the chances of a spike in the number of fatalities caused by lightning strikes and thus give rise to a strong case for adoption of adequate lightning protection systems to reduce damage to human life, property, and infrastructure. The proactive approach will provide required impetus for strong growth in the global lightning protection technologies (LPTs) market in future. This apart, the increasing usage of microprocessor-controlled and silicon-based devices on a daily-basis is dangerously exposing humans to lightning threats making installation of lightning protection systems in commercial and residential complexes a standard practice — yet another factor responsible for continued growth for the LPT market.

Globally, there is an increasing pressure to install advanced lightning protection systems in new as well as existing structures to prevent or minimize damages caused due to the rising number of Lightning Strikes. Various state legislatures have been pressing for installation of lightning protection systems in hospitals, schools, as well as other public buildings. Major LPT and grounding equipment end users including utilities, nuclear power and water treatment plants, seaports, warehouses, military, airports, residential construction, broadcast industry, and healthcare are likely to propel product demand in a significant manner in the near term. It is reported that open spaces such as golf courses and stadiums are more prone to lightning strikes and must therefore be provided with adequate protection measures. The wireless and telecommunication sectors in particular will provide a major boost to the LPT market, as the base stations and control towers require protection against lightning strikes.

Presently there is a noticeable lack of harmonization in regulations and standards followed across different regions worldwide. Standardization of procedures and guidelines would aid in considerable savings in resources and expenditure used for lightning protection. On account of differences in standards and regulations, the market for LPT is ridden with confusion with regard to various protection devices available in the market and respective regional standards. In the US market, most of the LPT companies comply with NFPA (National Fire Protection Association) Standard 780 and the UL (Underwriter´s Laboratories) 96A standards. In Europe, the IEC (International Electrotechnical Commission) 1024 is considered the de-facto document for LPTs. In the scenario, technology and equipment vendors need to focus on rationalization of products for accommodating varied standards and bring about greater clarity and uniformity. Manufacturers will have to retest as well as redesign devices for meeting the needs and specifications of government legislatures in different markets.

Developed markets of Europe and US represent major regional hubs for installation and development of lightning protection technologies, as stated by the new market research report on Lightning Protection Technologies (LPTs). Over the years, there has been an appreciable fall in lightning related fatalities in developed regions such as the United States, Canada, Western Europe and Australia. Proactive Government measures, technological advancements and stringent regulations led to the development of effective and cutting-edge lightning protection solutions. Several European countries now have national systems including sensing stations and radio mapping for locating lightning strikes and providing data to subscribers. However given the sheer size of population, increasing incidence of lightning strikes and inadequate infrastructure protection facilities, the Asia-Pacific region offers tremendous scope for rapid development in future. Buoyed by improved awareness, government initiatives and rise in urbanization in developing market of China, India, Malaysia and Indonesia among others, the region is forecast to expand at a strong CAGR of 7.9% through 2018.

Major players profiled in the report include, Alltec Corporation, ANWallis & Co., Ltd., Axis Cable Glands Co., (I) Pvt., Ltd., ERICO International Corporation, Fatech Electronic (China) Ltd., KML Technology Co., Ltd., Lightning Eliminators & Consultants, Inc., Lightning Protection International Pty Ltd., Littelfuse, Inc., MTL Instruments Group, NexTek, Inc., PT. Zeus Prima Garda, and Shenzhen Techwin Lightning Technologies Co., Ltd. (China).

The research report titled “Lightning Protection Technologies (LPT): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive industry overview, market trends, end-use markets, key statistics, regulations, recent industry activity, and profiles of major/niche global market participants. The report provides annual revenue estimates and projections for the years 2010 through 2018 in value (US$) terms for geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.

For more details about this comprehensive market research report, please visit —

http://www.strategyr.com/Lightning_Protection_Technologies_LPT_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

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Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweblightning_protection/technologies_systems_LPT/prweb9671372.htm


Source: prweb



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