Some trees can overcome the damage after being struck. But the fate of your tree depends on a lot of factors—its health, its species, its age and even its location. Plus, even if your tree didn’t die from a strike per se, it may have been wounded, leaving an entryway for insects or pathogens to attack and weaken the tree in the long term.
That being said, the general consensus is trees that were only stuck on one side of the trunk have a pretty good chance at survival. But if both sides of a tree are damaged, it will likely need to be removed.