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Light Towers Market 2023 Opportunity Assessment, Growth Strategy, Future Demand And Forecast To 2032 | Major Players Are Generac Mobile Products, Doosan Portable Power, Wacker Neuson SE, Atlas Copco (India) Ltd
Light Towers Market
The Business Research Company's Light Towers Global Market Report 2023 identifies Increased infrastructure activities as the major driver for the Light Towers Market's growth in the forecast period. Light towers are usually used on mining sites, accident sites, construction sites, rescue solutions, and others. Light towers are very useful equipment on infrastructure construction sites such as railways, highways, or roadways, sewers, power lines, and other infrastructure projects during night operations in remote places where insufficient light is present and good illumination is required. Light towers on construction sites increase the safety of workers and productivity.
The global light towers market size grew from $3.25 billion in 2022 to $3.5 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global light towers is expected to grow to $4.59 billion in 2027 at a CAGR of 7.0%.
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Major competitors in the light towers market are Generac Mobile Products, Doosan Portable Power, Wacker Neuson SE, Atlas Copco (India) Ltd., United Rentals Inc., The Will-Burt Company, Aska Equipments Limited, Larson Electronic LLC, Olikara Lighting Towers Pvt Ltd., Allmand Bros. Inc., Xylem, Chicago Pneumatic, J.C. Bamford Excavators Ltd., Colorado Standby, Youngman Richardson, WANCO INC., and Multiquip Inc.
A key trend in the Light Towers Market includes New product development. This is due to the presence of a large number of light tower manufacturing companies as well as their extending their growth in new areas to be a leader in the market. For instance, in 2021, Generac Power Systems, Inc., an American-based backup power generation products manufacturing company, developed a product named Generac's V20 PRO tower, which is an all-in-one mobile lighting tower that can be operated with different fuelling systems such as diesel, battery, hybrid, external power, and solar energy in a single machine. Generac's V20 PRO tower comes with a variety of external sources for charging the battery packs, including a solar panel kit, a generator, and a mains power supply.
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The Light Towers Market is segmented -
By Product: Stationary, Mobile
By Fuel Type: Solar/Hybrid, Diesel, Direct Power
By Technology: Manual lifting, Hydraulic lifting
By Lighting: Metal Halide, LED, Electric
By End User: Oil & Gas, Mining, Construction, Events & Sports
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Light Towers Market.
The Business Research Company's "Global Light Towers Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Light Towers Market Include:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……
20. Competitive Landscape And Company Profiles
21. Key Mergers And Acquisitions
22. Global Light Towers Opportunities And Strategies
23. Light Towers Market, Conclusions And Recommendations
24. Appendix
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