Global Lightning Arrester Market Insights Forecasts to 2032

• The Global Lightning Arrester Market Size was valued at USD 840 Million in 2023.
• The Market Size is Growing at a CAGR of 5.96% from 2023 to 2033.
• The Worldwide Lightning Arrester Market Size is expected to reach USD 1498 Million By 2033.
• North America is expected to grow the fastest during the forecast period.

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The Global Lightning Arrester Market size is anticipated to exceed USD 1498 Million by 2033, growing at a CAGR of 5.96% from 2023 to 2033.

 

Market Overview

A lightning arrester is a device used in electric power and telecommunications systems to protect the system's insulation and conductors from lightning damage. It is also referred to as a lightning diverter. The typical lightning arrester has two terminals: high voltage and ground. When a lightning surge (or switching very similar surge) travels down the power line to the arrester, the current is diverted through the arrester and, in most cases, to Earth. A lightning arrester protects an electric power and telecommunications system from lightning's high voltage surge. It prevents current from flowing to the ground until the system voltage reaches a normal level, and a lightning arrester can be a spark gap or a block of semiconducting material such as silicon carbide or zinc oxide. The global lightning arrester market is rapidly expanding and is expected to continue its upward trend in the coming years. Lightning arresters, also known as surge arresters or lightning surge protectors, are critical devices that protect electrical systems and equipment from the destructive effects of lightning strikes. They are intended to direct excess electrical energy generated by lightning strikes to the ground, preventing it from entering and damaging sensitive electronic devices and infrastructure.

 

Report Coverage

This research report categorizes the market for the global lightning arrester market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global lightning arrester market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global lightning arrester market.

 

Driving Factors

Demand for electric appliances and housewares is rising, increasing the need for protective systems, which is expected to drive the lightning arrester market. Lightning arresters are installed on devices that are sensitive to high voltage. Furthermore, arresters are usually installed near an electrical panel or a generator. When dangerous lightning strikes, the arrester helps to divert it to the ground, where it can diffuse without causing harm. The ongoing industrial development and urban expansion have resulted in a significant increase in the installation of electrical equipment and infrastructure, driving up demand for lightning arresters to protect these assets. In addition, companies are investing in expanding their product portfolios and distribution networks, which is driving the market. Companies have adopted strategies such as product development, mergers and acquisitions, and joint ventures to meet the increasing global demand for lightning arresters, which is boosting the market.

 

Restraining Factors

The high initial installation costs are expected to hamper market growth. This installation represents a significant barrier to small businesses. Lightning arresters' maintenance costs are also hamper the lightning arrester market growth. Growing competition and a high need to comply with strict regulations and changing standards around the world are expected to limit the market. Certain regions, particularly developing economies, are unaware of the importance of lightning protection systems. This results in low adoption rates and restricted market growth opportunities.

 

Market Segmentation

The global lightning arrester market share is classified into type, rating, application, and end-user.

• The metal oxide varistor segment is expected to grow fastest in the global lightning arrester market during the forecast period.     

The global lightning arrester market is categorized by type into horn gap, rod gap, sphere, electrolyte, metal oxide varistor, and others. Among these, the metal oxide varistor segment is expected to grow fastest in the global lightning arrester market during the forecast period. A MOV consists of a piece of metal oxide connected to the power and grounding lines through a pair of semiconductors. It has applications in circuits. Under normal system operating conditions, that is, when there is no surge and the system is operating at the rated voltage, the surge arrester will have a high resistance (almost infinite) to earth, resulting in an open circuit. As a consequence, the switching surge is safely diverted to the earth, and the arrester absorbs the surge's energy. Again, the system operates at its normal rated voltage, and the surge arrester's resistive property improves, causing it to act as an open circuit. Under normal operating conditions, the system voltage remains unaffected. Furthermore, it has a high degree of nonlinearity in arrester resistance, eliminates the need for a spark gap, and has a quick response to steep discharge current.

 

• The above 110 KV segment is expected to grow at the highest pace in the global lightning arrester market during the forecast period.   

Based on the rating, the global lightning arrester market is divided into Below 35 KV, 35-110 KV, and above 110 KV. Among these, the above 110 KV segment is expected to grow at the highest pace in the global lightning arrester market during the forecast period. The increasing number of distributional networks to reduce power outages, as well as rising residential electricity demand, are driving segmental growth.

 

• The transmission line segment is expected to hold the largest share of the global lightning arrester market during the forecast period.

Based on the application, the global lightning arrester market is divided into transmission lines, distribution lines, and substations. Among these, the transmission line is expected to hold the largest share of the global lightning arrester market during the forecast period. It is an electrical protection device that prevents lightning strikes and other power surges. These arresters are installed on substations to protect equipment from voltage surges caused by lightning strikes, system faults, and switching surges, as well as the growing demand for electric power transmission services in a variety of industries. The growing need for energy infrastructure development in emerging countries such as India and China are expected to drive growth in this market segment.

 

• The electronic devices segment is expected to grow at the highest pace in the global lightning arrester market during the forecast period.   

Based on the end user, the global lightning arrester market is divided into commercial, residential, power industry, and industrial. Among these, electronic devices are expected to hold the largest share of the global lightning arrester market during the forecast period. The growing energy demand has boosted the number of upgrades to old infrastructure and the expansion of the capacity of the electricity system, particularly in emerging economies, which fuels the segment. Furthermore, as urbanization and smart cities drive up energy demand, the power industry will increase its use of lightning arresters, driving the segment in forecast period.

 

Regional Segment Analysis of the Global Lightning Arrester Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia-Pacific is anticipated to hold the largest share of the global lightning arrester market over the predicted timeframe.

Asia-Pacific is projected to hold the largest share of the global lightning arrester market over the predicted years. Growing electricity demand and upgrades to electric infrastructure are expected to create significant opportunities for lightning arresters, as the country's urbanization and modernization have increased the number of high-rise buildings. These structures require proper lightning protection systems to ensure the safety of their electrical infrastructure, which boosts sales of lightning arresters in the area.

 

North America is expected to grow fastest in the global lightning arrester market during the forecast period. North America has seen significant growth in recent years, owing to high product penetration rates and technological advancements in lightning protection systems. Increased demand for electricity and upgrades to electric infrastructure are expected to boost the market in the North America.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global lightning arrester along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• 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
• Eaton

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-added resellers (VARs)

 

Recent Developments

• In October 2022, ABB announced plans to acquire Powertech Converter (PTC), a leading provider of auxiliary power converter solutions for metro and light rail vehicles. This acquisition is a key component of ABB Motion's external growth strategy.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Global Lightning Arrester Market based on the below-mentioned segments: 

 

Global Lightning Arrester Market, By Type

• Horn Gap
• Rod Gap
• Sphere
• Electrolyte
• Metal Oxide Varistor
• Others

 

Global Lightning Arrester Market, By Rating

• Below 35 KV
• 35-110 KV
• Above 110 KV

 

Global Lightning Arrester Market, By Application

• Transmission Line
• Distribution Line
• Substation

 

Global Lightning Arrester Market, By End-User,

• Commercial
• Residential
• Power Industry
• Industrial

 

Global Lightning Arrester Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa