Light Towers Market Growth Trends & Forecast till 2025

  • Stratview Research has published a new report on the Light Towers Market, segmented by Market Type (Sales, Rental), by Light Type (Metal Halide, LED), by Fuel Type (Diesel, Solar/Hybrid, and Direct Power), by End-Use Industry Type (Oil & Gas, Mining, Construction, Events & Sports, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global artificial intelligence as a service market.

    Market Highlights

    Light Towers Market is likely to witness a CAGR of 5.7% during the forecast period. The major factor driving the light towers market is the increasing investment in light towers operation in end-use industries such as construction, oil & gas, mining, and events & sports.

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    Covid Impact

    Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.

    Segmentation –

    This report studies the Light Towers Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:

    Based on the market type, the market is segmented as sales and rental. The rental segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. Strong demand from North America and Asia-Pacific along with the need for lower capital investment is the major factor driving the rental segment.

    Based on the light type, the light towers market is segmented as metal halide and LED. The metal halide segment dominated the market in 2019, owing to increased demand from the oil & gas and mining industries. On the other hand, the LED segment is expected to witness higher growth, during the forecast period, owing to the increasing demand for energy-efficient lighting systems.

    Based on the fuel type, the market is segmented as diesel, solar/hybrid, and direct power. The diesel segment held the largest share of the market in 2019, owing to the fact that these light towers are operated in remote off-grid locations where access to grid power is non-existent. Further, diesel fuel is comparatively economical than other fuel sources.

    In terms of regions, North America is estimated to be the largest light towers market during the forecast period. Strong investment towards infrastructure development and increasing oil & gas activities are the major factors driving the North American market. Asia-Pacific is expected to be the fastest-growing market, with China, Singapore, South Korea, Japan, and India being the major countries with lucrative growth opportunities.

    Following are the key players in the Light Towers Market:

    • Generac Holding
    • Terex Corporation
    • Doosan Portable Power
    • Wacker Neuson
    • Atlas Copco
    • United Rental

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