Light Towers Market is expected to grow at a robust CAGR
Global
Light Towers Market is expected to grow owing to rising number of construction
projects as well as renovation of existing infrastructure throughout the
forecast period.
According
to TechSci Research report, “Light
Towers Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast 2018-2028”, the Global Light Towers Market is
expected to register robust growth during the forecast period 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, industrial, and mining
activities. Several significant factors are crucial to meeting industrial
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 XX Pages and an in-depth TOC on the "Global Light Towers Market."
The
Global Light Towers Market is segmented based on channel, type, type of power
source, end-user industry and region. Based on channel, the market is
bifurcated into sales and rental. Based on type, the market is bifurcated into led
and metal halid. Based on type of power source, the market is bifurcated into
solar powered, diesel powered, hydrogen fuel powered and directly powered.
Based on end-user industry, the market is bifurcated into construction, oil
& gas, mining, industrial and others. Based on region, the market is
further bifurcated into North America, Asia-Pacific, Europe, South America,
Middle East & Africa.
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 Light Towers Market are: -
- Atlas
Copco AB
- Terex
Corporation
- Generac
Power Systems Inc.
- Larson
Electronics LLC
- Doosan
Portable Power
- Colorado
Standby
- Westquip
Diesel Sales
- Wacker
Neuson Group
- Youngman
Richardson & Co. Ltd
- Inmesol
Gensets SL
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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 industrial 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.
“Light
Towers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 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 End-user Industry (Construction, Oil &
Gas, Mining, Industrial and Others), By Region, Competition,” has evaluated the future growth
potential of Global Light Towers Market and provides statistics &
information on market size, structure, and future market growth. The report
intends 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 in Global Light Towers Market.
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