Press release
Light Towers Market Opportunities and Strategic Focus Report 2029
Light Towers Market - DataM Intelligence
The Global Light Towers Market is expected to grow at a high CAGR of 4.9% during the forecasting period (2022-2029).
Light towers are equipped with an attachment of the mast and high-intensity electric lamps used for providing lighting in remote locations. The lighting tower has significant use in the building & construction to provide the proper light. The lighting towers can be powered by generators, direct electricity, diesel, and solar cells. The solar-powered lighting towers are booming in the market owing to rising government subsidies for a sustainable environment.
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Market Dynamics
The market is driven by the rising demand for lighting towers for a wide range of applications, including building & construction, mining commercials, and many others worldwide. According to Climate Energy Group Organization 2020, the lighting market was valued at around USD 160 billion in 2020; this includes the lighting required for the towers, which are most commonly used in the building and construction sectors.
There is a rise in the innovative technology adoption for energy-efficient lighting, with a surge in government support and programs that has created a huge opportunity for this market. For instance, on 24th Jul 2019, The San Jose Light Tower Corporation launched a competition worldwide to design the world's epicenter of innovation in lighting. The San Jose Light Tower Corporation Company announced a stipend of USD 150,000 for those who have perfect energy-efficient proposals and meet with government agencies.
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Market Segmentation:
By Light Type
• Metal Halide for Light Towers the industry
• LED
By Source Type
• Solar/Hybrid
• Diesel
• Hydrogen Fuel Powered
• Direct Power
• Others
By End-User
• Oil & Gas
• Mining
• Construction
• Events & Sports
Competitive Landscape
The global Light Towers market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. They are the leading market players with significant market share.
Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 10th Sep 2018, United Rentals Company acquired BlueLine Rental for USD 2.1 billion. United Rentals Company boosted the acquisition of customers of both construction and industrial businesses to provide attractive returns.
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