Light Towers Market Overview
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.
The Light Towers market is rapidly expanding due to 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.
ChemView Consulting has analyzed that Light Towers seeks significant demand from the Construction industry & road safety, positively influencing the market growth. Increasing Construction activity in regions such as the Middle East, Asia Pacific, and Latin America has risen dramatically in Light Towers demand.
A growing number of road accidents also encourage global markets. Various nations’ governments introduced severe environmental degradation and protection regulations to control the emission rate.
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Segments Covered in Report
By Type :
- LED Light Tower
- Metal Halide Light Tower
By Power Source :
- Solar Powered
- Diesel Powered
- Hydrogen Fuel Powered
- Directly Powered
By End-user Industry :
- Oil & Gas
- 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)
Key Takeaways from the Light Towers Market
- Based on the type, the LED Light Tower segment will dominate at a significant CAGR from 2022 to 2032. This segment accounted for 40.0% of revenue share in 2021.
- Based on the Power Source, Diesel power is expected to increase the Light Towers demand worldwide significantly. Increasing demand from the building and infrastructure sectors will boost Light Towers.
- North America is projected to dominate the Light Towers market with a market share of 46.8% during the forecast period
Key companies covered in the market study 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.
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Report Key Highlights
- Detailed information on factors that will assist Global Light Tower’s growth during the next ten years
- Assessment of the historical and current Global Light Towers Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- 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.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies