Press release
Various Trends,Strategies,Opportunities In Light Tower Market With Forecast 2027
Light Tower Market
Construction industry is rapidly growing, which is attributable to the growing population and rising number of construction projects, increasing urbanization and industrialization, as well as renovation of existing infrastructure etc., across the globe.
As electrification projects, work on power transmission lines sometimes are carried out at nighttime or even late into the evening, demand for light tower is expected to boost, which in turn drives growth of the light tower market over the forecast period.
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The metal halide lamps segment is expected to register highest CAGR of over 3.0%, as it offers various advantages such as good color rendering, high efficiency, and wide ranging wattage, and this type of light tower is widely preferred since its advent
On the basis of mobility segmentation, mobile segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period.
The market in North America accounted for significant revenue share of over 27% in the global light tower market in 2017. This can be attributed to rising demand for portable light towers from construction, mining, and oil and gas industries in the US and Canada.
the region is expected to support growth of the Europe light tower market. For instance, in 2018, HIMOINSA S.L launched APOLO AS4005 ECO, which is a compact and lightweight lighting tower with two 500W LED spotlights, which provide a light output of 120,000 lumens, with fuel consumption of 0.83 l/h.
Increasing government activities, especially in regions such as North America, Asia Pacific, and Europe, in infrastructure development is expected to have a positive impact on the global light tower market. In addition, there is no direct substitute for light tower.
In Middle East & Africa and Latin America are also projected to witness moderate growth over the forecast period, and are expected to offer major opportunities for prominent players and new entrants in the forthcoming years.
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