Light Towers Market Statistics, Share, Size & Industry Forecast Report, 2020-2027
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Light Towers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Some of the major factors that are contributing to the growth of the light towers market include the continuous advancements in LED technology, the emergence of solar energy and battery-powered towers, and rising number of investments in various end-use sectors. Moreover, the light towers are majorly used in outdoor remote operations or locations which are difficult to connect with the main power grid. This has helped the light tower to become an important source of lightning during construction activities.
The remote operations include activities such as emergency, rescue operations, mining operations, and oil & gas industry operations. The mining and oil & gas sites that are situated away from the main power grid uses heavy-duty generators to produce power. There is a requirement for light towers in these operations to desired locations onsite for different operations. Furthermore, the rising infrastructure activities, which include highway construction, railway line & maintenance, bridge construction, and other civil activities, is further surging the growth of the market during the forecast period. Apart from these operations, emergency and rescue operations are also considered as an important responsibility for police, firefighters, and the military. This operation includes working at night in remote locations, thus creating strong demand for the light towers. As per the light towers market report, the fluctuations in the prices of crude oil fuels is likely to hinder the market growth.
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Market Type Segment Drivers
On the basis of market type, the rental is projected to grow at a higher CAGR during the forecast period. This is attributed to the strong demand for light tower rentals, especially in North America and Asia-pacific region. Additionally, the surging demand for rental market is mainly because of the increase in the demand for short time/temporary use.
Fuel Type Drivers
Based on the fuel type, diesel fuel is projected to grow at a higher CAGR during the forecast period. The increasing use of diesel as it is widely available and high cost-effective comparatively to other fuel sources is contributing to the market growth. The light towers are operated progressively in remote off-grid regions where the grid power is non-existent.
Light Towers Market’s leading Manufacturers:
• Generac Holding Inc
• Terex Corporation
• Doosan Portable Power
• Wacker Neuson Corporation
• Atlas Copco Ltd
• United Rental Inc.
• Larson Electronic LLC
• Olikara Lighting Towers Pvt. Ltd
• Aska Equipments Limited
Light Towers Market Segmentation:
Segmentation by Light Type:
• Metal Halide
Segmentation by Fuel Type:
• Direct Power
Segmentation by Region:
• North America
o United States of America
• Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
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