State legislatures mandating the installation of lightning protection technology (LPT) systems in schools, hospitals, and other public buildings have greatly bolstered demand for the product. The telecommunications and wireless sectors can also provide a major thrust to the LPT market, as their control towers and base stations need protection from lightening strikes.
New analysis from Frost & Sullivan (powersupplies.frost.com), World Lightning Protection Technology Market, reveals that market revenue totaled $450.2 million in 2004 and expects to reach $695.5 million in 2011.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the World Lightning Protection Technology Market, then send an e-mail to Trisha Bradley, Corporate Communications, at trisha.bradley[...]frost.com, with the following information: your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
“High-tech electronic equipment is extremely sensitive and damaged by voltage fluctuations and lightning strikes,” says Frost & Sullivan Research Analyst Ramya Srinivasan. “Grounding solves this problem and ensures their safety.”
Rapid infrastructure development and greater industrialization develop as market drivers because the increasing number of industries in the world is a positive sign for the LPT market. Greater use of electronic equipment, in both homes and offices, can also hike demand for these devices.
Major LPT and grounding equipment end users such as utilities, water treatment and nuclear power plants, warehouses, seaports, airports, the military, broadcast industry, houses as well as residential complexes, and healthcare will stimulate product demand significantly. Commercial sectors including offices, stadiums, and golf courses are other likely sources of revenue.
Despite such bright prospects, the LPT market is restrained by confusion and misinterpretation among customers on protection products. Every country has different standards and regulations and such disorder can waste time, money, and other resources.
In the U.S. market, participants have to compulsorily meet National Fire Protection Association (NFPA) Standard 780 and the Underwriter's Laboratories (UL) 96A standard. The European International Electrotechnical Commission (IEC) 1024 is the most essential and widely adopted document for LPTs.
LPT vendors’ primary focus is the rationalization of products to accommodate different standards. Meanwhile, manufacturers have to retest and redesign their devices to meet the requirements and specifications of global industry standards.
Apart from the issue of agreeing upon standards, market participants need to expose potential customers to new technology. This concern is especially relevant for smaller companies that are apprehensive about investing in novel systems due to their lack of adequate infrastructure and resources.
“Manufacturers can overcome this challenge by conducting extensive customer surveys and canvassing to give the products maximum publicity,” notes Srinivasan. “Literature and brochures about product benefits and features is also beneficial for this purpose.”
World Lightning Protection Technology Market is part of the 9210 subscription and segments the market into grounding and lightning protection equipment. It discusses market drivers and restraints as well as industry challenges and offers strategies to overcome these challenges. It also enables companies to align their positioning strategies to benefit from the changing market and obtain maximum return on investment. Analyst interviews and executive summaries are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
World Lightning Protection Technology Market
Keywords in this release: lightning protection technology, LPT, National Fire Protection Association, Standard 780, NFPA, Underwriter's Laboratories 96A, UL, International Electrotechnical Commission, 1024, IEC, grounding, lightning protection equipment, research, information, market, trends, technology, service, forecast, market share