Keyword Research: No Local Volume?

I've been doing some kw research for physical products which use pretty long tail names of products, and I'm seeing what appears to me to be a strange phenomenon. I see some signficant volume on the globe search, but not enough volume on the local search to register.

For example if I have:

"Acme Type II Fancy Widget Model HC11A" I see 9900 exact matches, which are also the exact same for broad match and phrase match. But no local volume.

Now here it get's even weirder.
One would expect to see a lot more volume for something like:
"Acme Type II Fancy Widget" which is much less specific, but instead maybe it's only 350 exact matches per month and 220 local.

It's repeated for nearly everything I look into of this type. What does this all mean? I've been avoiding working on those because I'm afraid it's not real traffic just some testing by the manufacturer or something, but 9000 or 12000 seems like an awful lot of testing. Does anybody have experience with this?

Am I missing out on some great opportunities or am I wise to be suspicious?