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Light Towers Market: Global Opportunity Analysis and Industry Forecast, 2020 - 2027

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Sep 2020 | 29 Views
 
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 Light tower is a piece of mobile equipment, which has one or more high-intensity electric lamps and a mast. The light is attached to the mast, which is attached to a trailer with diesel generator to power the lamp. Light towers are available in battery powered, solar powered, and hydrogen powered. The light tower market is driven by innovations that are focused on providing emission-less lighting. Light towers are mainly used for illuminating the area of work, which is usually remote and off the main power grid. Moreover, light towers have lamps made of metal halide bulbs while the diesel-powered generator powers these lamps. Light towers play a crucial role in road works and other applications particularly where fuel economy and mobility are required. They find applications in various industries such as construction, entertainment, mining, oil & gas, and demolition. Further, the light tower market is expected to witness significant growth due to rise in safety concerns in the construction sector and to prevent injuries or accidents on construction sites.

 

Market scope and structure analysis:

                                      Report Metric

                                                                                                  Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD Million)

  Segments covered

  Market Type, Light Type, Fuel Type, End User

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Generac, Doosan, Yanmar, Atlas Copco, Multiquip, Banner, Terex, Schneider Electric, Chicago Pneumatic, and United Rental

 

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
  • Events & Sports
  • Others

COVID-19 scenario analysis

The coronavirus pandemic has not only caused infections and deaths but also created havoc in the global economy on a large scale. Mining companies have been severely affected by the COVID-19 outbreak. Global restrictions to encourage social distancing have negative impacts on mining projects, which have either slowed or put on hold until further notice. The virus is expected to spread faster in the mining and drilling areas due to gathering of employees. Therefore, this is expected to force the companies to suspend their operation to prevent the further spread of the virus. These factors may affect the growth of the light tower market during the forecast years.

Market scenario analysis

The global light towers market size is expected to witness significant growth over the forecast period. This growth is attributed to the rise in investment for light towers in various industries such as construction, mining, oil & gas, and events & sports. Additionally, increase in focus on the implementation of safety measures and regulations in the construction sector across the globe boosts the usage of technologically advanced equipment and construction methods, which contributes to the global light tower market growth. In addition, increase in infrastructural investment mainly due to rapid transport development and refurbishment of existing structures is expected to positively impact the light tower market over the forecast period. Furthermore, tough working conditions in oil & gas and mining industries along with government regulations is expected to continue to drive the market. However, various restraints, such as high maintenance, battery problems, and inefficient supply chain, are expected to hinder the market growth.

Market trends    

LED lights continue to benefit significant recognition among the construction and mining industries due to their top-notch service life and instant switch on/switch off ability. Furthermore, LED has longer life cycle compared to that of a metal-halide light, which results in better performance.

Rise in urbanization and increase in population in the Asia-Pacific and Middle Eastern regions have boosted construction activities. In addition, Foreign Direct Investment (FDI) has increased in the construction development sector, which further propels the light towers market growth. In Malaysia, the government aims to build 78,000 affordable housing units, thereby contributing to the demand for light towers.

Furthermore, light towers are mainly used in outdoor remote operations or locations that are difficult to connect with the main power grid. They are a vital source of lighting during construction activities. The light towers market is expected to grow at a faster rate during the forecast period.

Regional insights

Asia-Pacific is the market leader for the light tower market. Its growth is attributed to rapid growth of the construction sector. Countries, such as China and India, invest heavily in developing transport infrastructure to support growth of their economies. Similarly, the Middle East & Africa is known for its activities in the oil industry; hence, the region is expected to become a lucrative market for light towers in the next few years. The Europe light towers market is also expected to grow in the near future due to shift toward renewable energy in the region. 

Key benefits of the report:

  • This study presents the analytical depiction of the light tower market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the light tower market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the light tower market growth scenario.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 
 
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