The global light towers market size is expected to grow from an estimated revenue of USD 4.3 billion in 2020 to USD 5.7 billion by 2025, at a CAGR of 5.7%. Increasing investments in oil & gas exploration and construction infrastructure development across regions such as North America, Europe, and Asia Pacific is driving the demand for light towers. The market is segmented by end-user, market type, light type, fuel type, and region.
Construction: The largest end-user segment of the light towers industry
The market is segmented, by end-user, into construction, oil & gas, mining, events and sports, and others. The construction segment accounted for the largest light towers market share in 2019. The construction sector is driven by the increased infrastructure development activities in residential, commercial, and industrial spaces. In addition, transport infrastructure improvements and maintenance activities require light towers for safe and efficient operations at night. This is expected to drive the construction sector demand across regions such as North America, Europe, and Asia Pacific.
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The LED segment is estimated to have the highest growth rate in the light towers market, by light type
The market is segmented, by light type, into metal halides and LED type light towers. The metal halide segment is estimated to lead the market in terms of market size; however, the LED segment is expected to be the fastest-growing market. The growth of the segment is mainly because of its rising demand for clean and efficient operations using light towers and the need to reduce carbon footprint.
North America is expected to dominate the global light towers market
North America was the largest light towers industry in 2019, driven mainly by activities in the US and Canada. Increasing investment for oil & gas exploration activities and CAPEX spending is the key market driver, where US has a favorable supportive policy for the growth of the sector. This further drives the demand for light towers and creates growth opportunities for all major light tower rental and manufacturers in the region. Europe is the second-largest market, following North America closely, with several construction infrastructure investments and developments taking place.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the light towers market. These players include Generac Holding (US), Terex Corporation (US), Doosan Portable Power (US), Wacker Neuson (Germany), Atlas Copco (Sweden), and United Rental (US).
ResearchForetell has published a report entitled Global Light Towers Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players.
The report is based on a collective analysis of data, which is obtained through primary and secondary research.
It provides a systematic approach to the current and prospective scenario of this market.Request sample copy of this report at https://www.researchforetell.com/reports/42759/light-towers-market---global-outlook-and-forecast-2021-2027/requestThis report contains market size and forecasts of Light Towers in global, including the following market information:Global Light Towers Market Revenue, 2016-2021, 2022-2027, ($ millions)Global Light Towers Market Sales, 2016-2021, 2022-2027, (Units)Global top five Light Towers companies in 2020 (%)The global Light Towers market was valued at 917.7 million in 2020 and is projected to reach US$ 980.8 million by 2027, at a CAGR of 1.7% during the forecast period.MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Light Towers manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.Total Market by Segment:Global Light Towers Market, By Type, 2016-2021, 2022-2027 ($ Millions) & (Units)Global Light Towers Market Segment Percentages, By Type, 2020 (%) Diesel Engine Light Tower Battery Light Tower Solar Light Tower Hydrogen Light TowerGlobal Light Towers Market, By Application, 2016-2021, 2022-2027 ($ Millions) & (Units)Global Light Towers Market Segment Percentages, By Application, 2020 (%) Road and Bridge Construction Emergency and Disaster Relief Oil and Gas Work Mining OtherGlobal Light Towers Market, By Region and Country, 2016-2021, 2022-2027 ($ Millions) & (Units)Global Light Towers Market Segment Percentages, By Region and Country, 2020 (%) North America US Canada Mexico Europe Germany France U.K. Italy Russia Nordic Countries Benelux Rest of Europe Asia China Japan South Korea Southeast Asia India Rest of Asia South America Brazil Argentina Rest of South America Middle East & Africa Turkey Israel Saudi Arabia UAE Rest of Middle East & AfricaCompetitor AnalysisThe report also provides analysis of leading market participants including:Key companies Light Towers revenues in global market, 2016-2021 (Estimated), ($ millions)Key companies Light Towers revenues share in global market, 2020 (%)Key companies Light Towers sales in global market, 2016-2021 (Estimated), (Units)Key companies Light Towers sales share in global market, 2020 (%)Further, the report presents profiles of competitors in the market, key players include: Generac Terex Atlas Copco Wacker Neuson Allmand Doosan Portable Power AllightSykes Yanmar Multiquip JCB Ocean King Wanco Powerbaby Ishikawa Hangzhou Mobow Zhenghui XuSheng Illumination GTGTThe report collects relevant data in a method that allows readers to understand individual elements and their interactions in the current market scenario.
It focuses on the necessary modifications for new and existing businesses to evolve and adapt to future trends in this market.
In addition, it helps the reader to identify salient features of the Global Light Towers Market Research Report 2021 and provides sufficient statistical data to understand its operation.
It also examines possible deficiencies along with the problems encountered by new and predominant companies.To conclude, this Light Towers Market report covers all the necessary financial, economic and social factors relevant to the industry enhancing the reader with the information required to make an informed decision.The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
