Light Tower Market Estimated To Hit CAGR of 3.3% by 2030

The global light tower market was valued at around US$ 0.8 Bn in 2018, and is expected to register a CAGR of 3.3%. The first five-year cumulative revenue (2018–2022) is projected to be over US$ 4.4 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.

Light towers are portable lighting equipment containing a group of electric lamps affixed at top of a pole. Light towers are light sources used at construction sites, oil & gas industries, mining industries, and among others.

Light towers have significant applications in the construction industry as it is an ideal solution during construction activities conducted at nighttime. Rapidly growing population and increasing number of construction activities are major factors expected to boost growth of the market over the forecast period. Increasing investments in various sectors coupled with increasing sports activities and events across the globe are major factors expected to support growth of the market over the forecast period.

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However, high cost of product is major factor restraining growth of the global market currently. Also, availability of refurbished and locally produced units are another factors expected to hamper growth of the global market over the forecast period.

Expanding presence in developing economies will offer high potential revenue opportunities for manufacturers operating in the market.

Global Light Tower Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global light tower market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global light tower market is expected to expand at a moderate CAGR of 3.3% during the forecast period.

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Global Light Tower Market: Segmental Snapshot

The market report has been segmented on the basis of product type, fuel type, mobility, end user, and region. The product type segment includes light emitting diode (LED), metal halide lamps, and electrodeless lamps. The fuel type segment includes diesel engine light, battery light, solar light, hydrogen light. By mobility type segment includes mobile, stationary. By end user construction, mining, disaster relief & emergency, oil & gas. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Product Type: The metal halide lamps segment accounted for highest revenue share contribution as compared to other product type segments, and is expected to maintain its dominance over the forecast period.

By Fuel Type: The diesel engine segment accounts for highest revenue share in the global market and battery light segment is expected to register a highest CAGR over the forecast period.

By Mobility: The mobile segment accounts for highest revenue share in the global market and is expected to maintain its dominance over the forecast period.

By End User: The construction segment accounts for highest revenue share in the global market and is expected to maintain its dominance over the forecast period.

By Region: The market in North America accounted for highest revenue share in the global light tower market in 2017

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Global Light Tower Market: Competitive Analysis

The research report on the global light tower market includes profiles of some of major companies such as Generac Holdings Inc., Terex Corporation, Doosan Corporation, Atlas Copco, Wacker Neuson SE, Aska Equipments Ltd., Ocean’s King Lighting Science & Technology Co., Ltd., J C Bamford Excavators Ltd., Allmand Bros., Inc., and AllightSykes Pty Ltd.

The Global Light Tower Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global light tower market for 2018–2027.