Light Towers Market

Light Towers Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Light Towers Market was worth US$ 3,498.6 Mn and is expected to grow at a CAGR of 5.9% over the forecast period. The market is expected to hit US$ 6,206.6 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 4.8%, the market underwent significant growth.

Portable light towers are used for emergencies where there’s no other light source. The mobile light towers offer superior illumination at the right time, at night, or in a dark place where the eye needs help to see.

Market Dynamic

THE GROWTH IN THE CONSTRUCTION INDUSTRY DRIVES THE MARKET

The global light towers market is projected to exhibit substantial growth during the forecast period because of rising construction activities, the rising need for proper lighting in remote locations, and the increasing need for adequate lighting by the building and construction sectors. A growing number of road accidents is also encouraging the global markets. Various nations’ governments introduced stringent environmental degradation regulations and protection regulations to control the emission rate.

STRINGENT GOVERNMENTAL REGULATIONS HELP THE MARKET GROWTH

The increasing frequency of fatalities, particularly during night-time operations, and the availability of several resistant & tough mobile equipment equipped with enhanced quality standards are key factors encouraging the product installation. From this perspective, the government is approving projects that would foster the development of these markets. In addition, the growing demands for modernization and refurbishment of the existing infrastructure to stimulate the product demand and supply chain are also encouraging this market to grow faster.

Market Segments Covered in Report

By Type :

• LED Light Tower
• Metal Halid Light Tower

By Power Source :

• Solar Powered
• Diesel Powered
• Hydrogen Fuel Powered
• Directly Powered

By End-user Industry :

• Construction
• Oil & Gas
• Mining
• Industrial
• Other End-user Industries

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are LED Light Tower accounts for the largest market share?

LED Light Towers utilize LED lamps to illuminate various locations. They rely on a solid-state design that ensures its sturdiness under extreme working conditions. Compared to metal halide towers, their better ability to save light and their low wattage requirements means that they produce more lumens for the same system cost than the Metal Halide Towers. One could save up to 40% of electricity consumption if one switches from HID to LED lights in a building.

Why are solar-powered light towers becoming more common?

In the years to come, solar power will gain traction as it becomes more affordable. The increasing demand for lights indicates the growing attention from investors toward renewable energy sources worldwide. With advanced technology, light towers can be operated without dependence on diesel, batteries, or other power sources. Light tower systems powered by solar energy greatly contribute to a greener environment.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• North America held the largest share of the Light Towers Market in 2021, up to 46.8%. North America is expected to be the world’s largest market for light tower sales. This is due to strong construction, oil & gas, and mining growth. Solar-based light towers have gained popularity recently, and key players are increasingly targeting North America from a target market perspective.
• The energy transition is underway, with the developing world producing most of the world’s CO₂ emissions and having great demand for energy-related services. Much of this increase in energy consumption is focused in developing regions of Asia (India, China, and others), where increasing prosperity and improving living standards support growing energy consumption per head.

Competition Analysis

Some of the key developments that have taken place in the Light Towers Market include:

• On October 2020, Doosan Corporation and Ceres Power Holdings plc, leaders in fuel cell and electrochemical technology, established a partnership and license agreements. These include constructing a 50MW first mass manufacturing plant in South Korea to produce fuel cell stacks manufactured under license from Ceres.
• In August 2021, With the acquisition of a new structure, Generac Power Systems declared the extension of its corporate operations into the Village of Pewaukee. The new website will act as the business’s customer service hotline and assist with inquiries related to light tower items.

A list of some of the key suppliers present in the market are:

• Atlas Copco AB
• Chicago Pneumatic
• Terex Corporation
• Generac Power Systems, Inc.
• Larson Electronics LLC
• Doosan Portable Power
• Colorado Standby
• Westquip Diesel Sales
• Wacker Neuson Group
• Youngman Richardson & Co. Ltd.

Global Light Towers Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies