Lightning Arrester Market to Reflect Steady Growth Rate by 2021
The lightning arrester find its applications in the electrical power systems, telecommunication systems and on concrete structures. The major advantages of lightning arrester are safety to electronic components, safety to concrete buildings which in turn make lightning arrester an ideal technology for electrical safety and security.
The lightning arrester market can be segmented on the basis of Geography, Product Type, End use and Material Used. The lightning arrester market can be geographically segmented which includes North America, Asia Pacific(APAC), Europe and Middle East & Africa(MEA). Lightning arrester market can be segmented on the grounds of Product Type which directs to the type of the lightning arresters like Interwoven wires, Metallized fabrics and fibers Coating and painting and Lightning diverter strips. Depending upon the end use, the lightning arrester market can be segmented according to Commercial Use, Industrial Use and Domestic Use. Furthur, the lightning arrester market can be segmented on the basis of Material used like metal oxide lightning resisters, Silicon Rubber, Ethylen-Propylene-Rubber, Ethylene-PropyleneDiene-Monomer, Ethylen-Vinylacetate.
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One of the major drivers of Lightning Arrester Market is the demand for electrical houseware and appliances. The rapid increase in the use of such appliances are catalyzing the need for lightning arresters. Moreover, the adoption of high end technologies like LCD and LED televisions as well as smart washing machines and microwaves are amplifying the demand of lightning arresters globally. These electronic devices are sensitive to high voltage and hence lightning arresters are required to be installed everywhere. North America is playing a major role in enhancing the lightning arrester market and asia pacific is also playing a key role in the development of the lightning arrester market due to rapid growth in industrialization.
The lightning arrester market is facing various challenges due to the rapid change in technology and trends. Earlier the silicon rubber lightning arresters were used which are replaced by MOV type lightning arresters. The lightning arrester market is being pulled down due to failures and faults in the devices due to other faulty means. The lightning arrester market moreover faces a challenge due to its higher initial cost. Lightning arresters are costly to install initially.
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The growth of renewable energy is creating a boom in the lightning arrester market. The use of Solar Electrical Systems, Wind Mills and towers etc are highly sensitive to lightning surges and thus the need of lightning arrester is growing in the renewable energy sector. Thus, the lightning arrester market is being catalyzed due to the expansion of renewable sources of electrical energy.
Various companies are trying their luck in lightning arrester market due to its rapid expansion especially in the Asia Pacific and North America. Some of the key players of the lightning arrester market are Belkin, Eaton, Emerson Electric, GE Industrial Solutions, Leviton Manufacturing, Schneider Electric, and Tripp Lite etc.
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