Light Towers Market – Industry Developments, Key Strategies of Major Players, Emerging Segments and Regional Outlook by 2030

Global Light Towers Market is valued at approximately USD 4.07 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2020-2027.

A light tower is a type of mobile equipment which is having more than one high-intensity electric lamps. Light towers have many applications including mining, road works, entertainment, oil and gas etc. In today’s market scenario, light towers race used as solar panels with fuel generators. The rise in global demand of high energy due to growing population and developing economy is resulting the accelerating the operations in oil and gas industry which in turn is the key factor for the light tower market growth.

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According to Statista forecast, 2019 , nearly 4.5 billion metric tons of oil is produced worldwide every year, with the Middle East housing the greatest share of proved oil reserves, at close to 50 percent. Therefore, this factor may strengthen the adoption for Light Towers market across the globe. Moreover, the growing advancements in LED as it is most convenient to convert energy into light and is long lasting, are the few factors responsible for the CAGR of the market during the forecast period. However, battery problems and high maintenance of the towers are the factors that restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Light Towers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to presence of massive number of light tower manufacturers in the region. Whereas North America is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to huge investment in infrastructure development and oil & gas exploration activities.

Major market player included in this report are:
Generac Holding
Atlas Copco AB
Terex Corporation
Larson Electronics LLC
Wacker Neuson
Doosan Portable Power
United Rental
Colorado Standby
Xylem Inc.
INMESOL S.L.U, JCB

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Market Type:
Sales
Rental

By Light Type:
Metal Halide
LED

By Fuel Type
Diesel
Solar/Hybrid
Direct Power

By End-User
Oil & Gas
Mining
Construction

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Light Towers Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

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COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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