Lightning Arrester Market Size, Share & Trends Report | 2031
Lightning Arrester Market Size, Share & Trends Report | 2031
Segments - Lightning Arrester Market by Type (Horn Gap, Rod Gap, Sphere, Electrolyte, Metal Oxide Varistor, and Others), Application (Transmission Line, Distribution Line, and Substation), Ratings (Below 35 KV, 35-110 KV, and Above 110 KV), End-user (Commercial, Residential, Power Industry, and Industrial), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-5047
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| 164 Pages
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Report Description
Lightning Arrester Market Outlook 2031
The global lightning arrester market size was valued at USD 790 Million in 2022 and is likely to reach USD 1,460 Million by 2031, expanding at a CAGR of 6.4% during the forecast period, 2023–2031. Increasing investments in transmission & distribution (T&D) networks is likely to boost the market.
A lightning arrester is a device that is designed to protect electrical and electronic systems from damage due to lightning strikes. Lightning strikes generate a high-voltage surge that can damage or destroy electronic equipment and appliances.
Lightning arresters work by providing a low-resistance path for the lightning surge to follow, diverting the surge away from the equipment or appliances that need to be protected. They typically consist of a metal rod or wire that is mounted on top of a building or structure and connected to the ground by a heavy cable.
When lightning strikes, the surge of electricity is directed to the lightning arrester, which channels the surge safely to the ground. Thereby preventing the surge from damaging or destroying electronic equipment and preventing electrical fires and other hazards.
Lightning arresters are commonly used in a variety of settings such as residential & commercial buildings, telecommunications infrastructure, and power plants. They are important components of any electrical or electronic system that is at risk of being damaged by lightning strikes.
Lightning Arrester Market Dynamics
Major Drivers
An increase in the demand for electric appliances and housewares is boosting the need for protective systems, which in turn, is expected to drive the lightning arrester market. A lightning arrester is installed to devices that are sensitive to high voltage.
Arresters are typically installed near an electrical panel or near a generator. The arrester helps to divert the lightning to the ground when dangerous lightning strikes, where it will diffuse without causing any harm.
Companies are investing in expanding their product portfolio and distribution networks, which is boosting the market. Companies have adopted strategies such as developing products, mergers & acquisitions, and joint ventures to cater to the increasing demand for lightning arresters all over the world, which in turn is fueling the market.
Existing Restraints
High initial investments required for installation is expected to restrain the market. This installation is a significant barrier to small businesses. The maintenance cost of lightning arresters is also likely to hinder the market. Growing competition and a high need to adhere to strict regulations and changing standards around the world are expected to hamper the market.
Emerging Opportunities
Increasing demand for lightning arresters is expected to create lucrative opportunities for the market players. Coastal communities and businesses are looking for ways to protect their infrastructure from the threat of lightning strikes.
Rapid adoption of lightning arresters and growing emphasis on grid modernization are expected to create opportunities in the market in the coming years.
Scope of Lightning Arrester Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes |
Details |
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Report Title |
Lightning Arrester Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Horn Gap, Rod Gap, Sphere, Electrolyte, Metal Oxide Varistor, and Others), Application (Transmission Line, Distribution Line, and Substation), Ratings (Below 35 KV, 35-110 KV, and Above 110 KV), and End-user (Commercial, Residential, Power Industry, and Industrial) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Lightning Arrester Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
ABB; Siemens; Hubbell; Cooper Lighting LLC.; Toshiba Corporation; MEIDENSHA CORPORATION; SHREEM ELECTRIC LIMITED; General Electric; LPI Lightning Protection International Pty Ltd; Emerson Electric Co.; Schneider Electric; Leviton Manufacturing Co., Inc.; Belkin; TE Connectivity; and Eaton |
Lightning Arrester Market Segment Insights
Type Segment Analysis
Based on type, the lightning arrester market is divided into horn gap, rod gap, sphere, electrolyte, metal oxide varistor, and others. The metal oxide varistor (MOV) segment is expected to expand at a significant pace during the projection period. A MOV has a piece of metal oxide that is joined to the power and grounding line by a pair of semiconductors. It finds application in circuits.
The horn gap segment is anticipated to hold a key share of the market in the coming years. The horn gap lightning arrester has two horn-shaped rods fitted on ceramic insulators. These rods are adjustable and adjusted according to the voltage.
Application Segment Analysis
On the basis of application, the market is classified as transmission line, distribution line, and substation. The distribution line segment is projected to register a considerable CAGR during the forecast period, owing to the increasing industrialization and the growth of the smart grid infrastructure.It is a type of electrical protection device that is used to protect against lightning strikes and other power surges. These arresters are installed on substations and are used to protect equipment against voltage surges from lightning strikes, system faults, and switching surges.
The transmission line is anticipated to account for a major market share in the coming years, due to the rising demand for electric power transmission services in several industries. In emerging countries such as India and China, the growing need for energy infrastructure development is expected to boost the segment in the market.
Rating Segment Analysis
Based on ratings, the lightning arrester market is classified as below 35 KV, 35-110 KV, and above 110 KV. The above 110 KV segment is expected to register a robust growth rate during the forecast period. The segment growth is attributed to the increasing number of distributional networks to reduce power outages and the rising demand for electricity from residential areas.
End User Segment Analysis
On the basis of end-user, the market is categorized as commercial, residential, power industry, and industrial. The power industry segment is anticipated to account for a major share of the market in the coming years. Increasing need for energy has resulted propelled the number of upgrades of old infrastructure and the growing capacity of electricity system, especially in emerging economies fuel the segment.
Moreover, urbanization and smart cities are boosting energy demand, thus the power industry increasing its use of lightning arresters, thus fueling the segment in the coming years.
Regional Analysis
In terms of region, the global lightning arrester market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to the rising demand for electricity in emerging countries such as India and China.
China is the second-largest economy and rapidly increasing the industrial and residential sectors, which is boosting the electricity demand. This, in turn, is likely to fuel the market in the region. For instance, China is expected to invest around 900 billion in power grids by 2025 and this investment helps to develop the country’s power grids.
The market in North America is anticipated to expand at a rapid pace in the coming years, due to the high product penetration rates and technological advancements about lightning protection systems. Increasing demand for electricity and electric infrastructure up-gradation is expected to boost the market in the region.
Segments
The global lightning arrester market has been segmented on the basis of
Type
- Horn Gap
- Rod Gap
- Sphere
- Electrolyte
- Metal Oxide Varistor
- Others
Application
- Transmission Line
- Distribution Line
- Substation
Ratings
- Below 35 KV
- 35-110 KV
- Above 110 KV
End-user
- Commercial
- Residential
- Power Industry
- Industrial
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global lightning arrester market are ABB; Siemens; Hubbell; Cooper Lighting LLC.; Toshiba Corporation; MEIDENSHA CORPORATION; SHREEM ELECTRIC LIMITED; General Electric; LPI Lightning Protection International Pty Ltd; Emerson Electric Co.; Schneider Electric; Leviton Manufacturing Co., Inc.; Belkin; TE Connectivity; and Eaton.
These key players adopt various strategies including product launches, acquisitions, mergers, collaboration, partnerships, and production expansion to increase their consumer base around the globe.
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On October 9, 2022, ABB announced plans to acquire PowerTech Converter (PTC), a leading supplier of auxiliary power converter solutions for metros and light rail vehicles. This acquisition is an important part of ABB Motion’s external growth strategy.
- On February 2, 2020, LPI partnered with ECLE to launch a new range of NRP conventional lightning protection systems. ECLE is a high-quality component manufacturer which specilises in conventional lightning protection system applications. NRP avoids potential water ingress into the structure over time and lowers the cost of installations by 50% to 70%.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Lightning Arrester Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Lightning Arrester Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Lightning Arrester Market - Supply Chain
4.5. Global Lightning Arrester Market Forecast
4.5.1. Lightning Arrester Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Lightning Arrester Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Lightning Arrester Market Absolute $ Opportunity
5. Global Lightning Arrester Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Lightning Arrester Market Size and Volume Forecast by Types
5.3.1. Horn Gap
5.3.2. Rod Gap
5.3.3. Sphere
5.3.4. Electrolyte
5.3.5. Metal Oxide Varistor
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Lightning Arrester Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Lightning Arrester Market Size and Volume Forecast by Applications
6.3.1. Transmission Line
6.3.2. Distribution Line
6.3.3. Substation
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Lightning Arrester Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. Lightning Arrester Market Size and Volume Forecast by End Users
7.3.1. Commercial
7.3.2. Residential
7.3.3. Power Industry
7.3.4. Industrial
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Lightning Arrester Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Lightning Arrester Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Lightning Arrester Demand Share Forecast, 2019-2026
9. North America Lightning Arrester Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Lightning Arrester Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Lightning Arrester Market Size and Volume Forecast by Types
9.4.1. Horn Gap
9.4.2. Rod Gap
9.4.3. Sphere
9.4.4. Electrolyte
9.4.5. Metal Oxide Varistor
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America Lightning Arrester Market Size and Volume Forecast by Applications
9.7.1. Transmission Line
9.7.2. Distribution Line
9.7.3. Substation
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America Lightning Arrester Market Size and Volume Forecast by End Users
9.10.1. Commercial
9.10.2. Residential
9.10.3. Power Industry
9.10.4. Industrial
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America Lightning Arrester Demand Share Forecast, 2019-2026
10. Latin America Lightning Arrester Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Lightning Arrester Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Lightning Arrester Market Size and Volume Forecast by Types
10.4.1. Horn Gap
10.4.2. Rod Gap
10.4.3. Sphere
10.4.4. Electrolyte
10.4.5. Metal Oxide Varistor
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America Lightning Arrester Market Size and Volume Forecast by Applications
10.7.1. Transmission Line
10.7.2. Distribution Line
10.7.3. Substation
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America Lightning Arrester Market Size and Volume Forecast by End Users
10.10.1. Commercial
10.10.2. Residential
10.10.3. Power Industry
10.10.4. Industrial
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America Lightning Arrester Demand Share Forecast, 2019-2026
11. Europe Lightning Arrester Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Lightning Arrester Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Lightning Arrester Market Size and Volume Forecast by Types
11.4.1. Horn Gap
11.4.2. Rod Gap
11.4.3. Sphere
11.4.4. Electrolyte
11.4.5. Metal Oxide Varistor
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe Lightning Arrester Market Size and Volume Forecast by Applications
11.7.1. Transmission Line
11.7.2. Distribution Line
11.7.3. Substation
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe Lightning Arrester Market Size and Volume Forecast by End Users
11.10.1. Commercial
11.10.2. Residential
11.10.3. Power Industry
11.10.4. Industrial
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe Lightning Arrester Demand Share Forecast, 2019-2026
12. Asia Pacific Lightning Arrester Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Lightning Arrester Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Lightning Arrester Market Size and Volume Forecast by Types
12.4.1. Horn Gap
12.4.2. Rod Gap
12.4.3. Sphere
12.4.4. Electrolyte
12.4.5. Metal Oxide Varistor
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific Lightning Arrester Market Size and Volume Forecast by Applications
12.7.1. Transmission Line
12.7.2. Distribution Line
12.7.3. Substation
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific Lightning Arrester Market Size and Volume Forecast by End Users
12.10.1. Commercial
12.10.2. Residential
12.10.3. Power Industry
12.10.4. Industrial
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific Lightning Arrester Demand Share Forecast, 2019-2026
13. Middle East & Africa Lightning Arrester Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa Lightning Arrester Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Lightning Arrester Market Size and Volume Forecast by Types
13.4.1. Horn Gap
13.4.2. Rod Gap
13.4.3. Sphere
13.4.4. Electrolyte
13.4.5. Metal Oxide Varistor
13.4.6. Others
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa Lightning Arrester Market Size and Volume Forecast by Applications
13.7.1. Transmission Line
13.7.2. Distribution Line
13.7.3. Substation
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa Lightning Arrester Market Size and Volume Forecast by End Users
13.10.1. Commercial
13.10.2. Residential
13.10.3. Power Industry
13.10.4. Industrial
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa Lightning Arrester Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global Lightning Arrester Market: Market Share Analysis
14.2. Lightning Arrester Distributors and Customers
14.3. Lightning Arrester Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.2. Siemens
14.4.3. Hubbell
14.4.4. Cooper Lighting LLC.
14.4.5. Toshiba Corporation
14.4.6. MEIDENSHA CORPORATION
14.4.7. SHREEM ELECTRIC LIMITED
14.4.8. General Electric
14.4.9. LPI Lightning Protection International Pty Ltd
14.4.10. Emerson Electric Co.
14.4.11. Schneider Electric
14.4.12. Leviton Manufacturing Co., Inc.
14.4.13. Belkin
14.4.14. TE Connectivity
14.4.15. Eaton
Methodology
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