Rental Segment is Expected to Dominate the Global Oil & Gas Light Towers Market
Requirement for Oil & Gas infrastructure and Technological
Advancements are a
major factor attributable to the growth of the market.
According
to TechSci Research report, “Global Oil & Gas Light Towers Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Oil & Gas Light Towers is anticipated to
project robust growth in the forecast period with a CAGR of 4.28% through 2028, owing to demand from
various industries worldwide, leading to rapid product innovations by different
vendors in this market. Moreover, most light towers run on diesel fuel due to
their high demand in construction, Oil & Gas, and mining activities.
Several significant factors are crucial to meeting Oil & Gas requirements,
including superior light coverage in terms of lumens, enhanced durability, and
the right power source. LED technology has effectively addressed these
essential requirements and has become the preferred choice over other existing
technologies. It offers higher fuel efficiency, wider light coverage with over
100,000 lumens, and comparably lower ownership and maintenance costs.
Furthermore, the increased demand for rugged and durable light towers from
industries like mining and construction has prompted major manufacturers to
introduce new heavy-duty versions of tower lights for more challenging
deployments. For example, in March 2020, Lind Equipment launched the All-in-One
Beacon LED Tower.
The
incorporation of LED technology in light towers presents a significant
opportunity. LED lights offer energy efficiency, extended lifespan, and
superior illumination compared to conventional lighting solutions. As
businesses and industries prioritize sustainability and cost-effectiveness,
there is a growing demand for light towers equipped with LED lights. The market
is progressively shifting towards sustainable solutions. The development of
hybrid or solar-powered light towers can cater to environmentally conscious
customers and align with global initiatives to reduce emissions and energy
consumption. Creating digital platforms for equipment rental, sales, and
service has the potential to enhance the customer experience. Online platforms
that enable users to efficiently browse, select, and rent light towers can
effectively attract a customer base with a strong inclination towards
technology.
Browse over xx market data Figures spread through 188 Pages
and an in-depth TOC on "Oil & Gas Light Towers Market"
Based
on channel, Rental
segment is expected to dominate the market during the forecast period. Rental
companies frequently update their equipment with the latest lighting
technologies, such as LED lighting and energy-efficient solutions. This allows
renters to access these innovations without the need for investing in new
equipment themselves. Rental companies offer a diverse range of light tower
models and configurations to cater to varying requirements. This variety
enables businesses to select the most suitable equipment for their specific
applications. Rental providers also offer value-added services including
training, technical support, and site planning assistance to help renters
optimize their lighting solutions for their specific projects. The rental
market has been influenced by the digital transformation as well. Many rental
companies are adopting online platforms and apps to streamline the rental
process, from equipment selection to booking and payment. When businesses rent
light towers, they can benefit from having maintenance and servicing handled by
the rental provider, eliminating the need for in-house maintenance and allowing
companies to focus on their core activities.
Based
on type of power source, Diesel Powered segment is projected to dominate the
market throughout the forecast period. The diesel segment within the light
towers market is widely recognized and favored due to its reliability,
durability, and efficiency. Diesel-powered light towers are highly regarded for
their ability to provide illumination in remote or off-grid areas with limited
access to electricity. While diesel light towers may have larger dimensions and
weight compared to solar or battery-powered alternatives, they are still
designed to be portable and can be easily transported to various locations.
Diesel light towers are extensively utilized in diverse industries such as
construction, mining, oil and gas, agriculture, infrastructure development,
emergency response, and outdoor events. Regular maintenance of the diesel
engine and generator components is crucial to ensure consistent performance and
longevity.
Key
market players in the Global Oil & Gas Light Towers Market are following:-
- Inmesol
Gensets SL
- ABB
Ltd.
- Aesseal
Plc
- Beacon
Gasket & Seals Co.
- Ebara
Corp.
- EnPro
Industries Inc.
- Flowserve
Corp.
- Parker
Hannifin Corp.
- Smiths
Group Plc
- The
Timken Co.
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“North
America is expected to dominate the market during the forecast period. The oil
and gas sector frequently necessitates temporary lighting solutions for remote
exploration sites, drilling rigs, and other Oil & Gas operations. Light
towers play a vital role in providing the required illumination for these
activities. North America is home to a diverse array of outdoor events,
including music festivals, sports events, and community gatherings. In such
events, light towers are of utmost importance as they ensure adequate lighting,
thereby enhancing safety and visibility for attendees.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management consulting firm.
Oil & Gas
Light Towers Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast Segmented by Channel (Sales and Rental), By Type (LED and Metal Halid)
By Type of Power Source (Solar Powered, Diesel Powered, Hydrogen Fuel Powered
and Directly Powered), By Region, Competition 2018-2028 has evaluated the future growth
potential of Global Oil & Gas Light
Towers Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Oil & Gas Light Towers Market.
Contact
Mr.
Ken Mathews
Techsci
Research LLC
420
Lexington Avenue, Suite 300,
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