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.
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 :
By Power Source :
By End-user Industry :
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Some of the key developments that have taken place in the Light Towers Market include:
A list of some of the key suppliers present in the market are:
Global Light Towers Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Power Source, End-user Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.9%.
The global light tower market is expected to witness increasing demand for light towers in the years to come. Moreover, these towers are environmentally friendly and require a one-time set-up cost, which is an advantage for the manufacturers and consumers. The increasing number of oil inventories and processing plants will drive demand for these towers shortly.
Major global Light Towers Market players 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.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Light Towers market.
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