
Light Tower Market By Type (Light Emitting Diode, Metal Halide Lamps, Electrodeless Lamps) By Mobility (Mobile, Stationary) and Region - Global Forecast to 2026
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6135
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March 2023
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206
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This report was compiled by Research Team Research team of over 50 passionate professionals leverages advanced research methodologies and analytical expertise to deliver insightful, data-driven market intelligence that empowers businesses across diverse industries to make strategic, well-informed Correspondence Research Team Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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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 report offers in-depth insights, revenue details, and other vital information regarding the global light tower market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global light tower market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global light tower market is segmented on the basis of type, fuel type, mobility, end user, and region.
A light tower is a piece of mobile equipment widely used at construction sites, oil & gas industries, mining industries, and among others, as it is an ideal solution for activities conducted at nighttime.
Global Light Tower Market Dynamics:
Construction industry is rapidly growing, which is attributable to the growing population and rising number of construction projects, increasing urbanization and industrialization, as well as renovation of existing infrastructure etc., across the globe. As light towers have significant applications in the construction industry, the demand for light tower is expected to boost over the forecast period.
Light towers are used for lighting purposes, and are especially useful when work is being conducted in remote or isolated areas where there is no installed power source. As electrification projects, work on power transmission lines sometimes are carried out at nighttime or even late into the evening, demand for light tower is expected to boost, which in turn drives growth of the light tower market over the forecast period.
In addition, increasing investment in infrastructure development and public works departments in many countries and increasing sports activities and events across the globe is expected to continue to drive growth of the target market over the forecast period.
However, many manufacturers are offering refurbished light towers, which can limit purchase of new light towers thus impacting growth of the global market over the forecast period.
Market analysis by product type:
On the basis of product type segmentation, metal halide lamps segment is expected to contribute major revenue share and is expected to maintain its dominance over the forecast period. The metal halide lamps segment is expected to register highest CAGR of over 3.0%, as it offers various advantages such as good color rendering, high efficiency, and wide ranging wattage, and this type of light tower is widely preferred since its advent
Market analysis by fuel type:
On the basis of fuel type segmentation, diesel engine light segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period. The battery light segment is expected to register highest CAGR over 3.5% over the forecast period. Diesel-powered light towers are widely used in various sectors such as mining, construction, and oil and gas, owing to its longer running time, coupled with easy maintenance, which are major factors expected to drive revenue growth of this segment over the forecast period.
Market analysis by mobility:
On the basis of mobility segmentation, mobile segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period. The mobility segment is expected to register highest CAGR over 3.0% over the forecast period. Increasing demand for mobile light towers from various sectors such as infrastructure development, highway construction, railway line construction and maintenance, bridge construction, and other civil activities is key factor expected to propel growth of the segment over the forecast period.
Market analysis by end user:
On the basis of end user segmentation, construction segment is estimated to contribute major revenue share of the market and is expected to maintain its dominance over the forecast period. The disaster relief and emergency segment is expected to register highest CAGR over 3.5% over the forecast period.
Analysis by Region:
The market in North America accounted for significant revenue share of over 27% in the global light tower market in 2017. This can be attributed to rising demand for portable light towers from construction, mining, and oil and gas industries in the US and Canada. Moreover, increasing spending on infrastructure, coupled with rising demand for light tower from the underground mining sector for portable lighting solutions are major factors expected to drive revenue growth of light tower market in North America over the forecast period. For instance, according to US Census Bureau in 2018, total investment in the construction industry, which includes public and private construction, is around US$ 1,310 Bn.
The market in Europe accounts for significant revenue share in the global light tower market. Increasing focus of manufacturers on research & development activities related to light towers in the region is expected to support growth of the Europe light tower market. For instance, in 2018, HIMOINSA S.L launched APOLO AS4005 ECO, which is a compact and lightweight lighting tower with two 500W LED spotlights, which provide a light output of 120,000 lumens, with fuel consumption of 0.83 l/h.
The Asia Pacific market accounts for another significant revenue share in the global light tower market. The Asia Pacific light tower market is expected to register a highest CAGR of over 3.5% during the forecast period. Presence of various major manufacturers of light towers in the country, coupled with increasing investments on infrastructure development activities in various industrial sectors are among the major factors expected to drive growth of the light tower market in Asia Pacific over the forecast period. In addition, increasing mining activities, especially related to iron ore and coal in emerging economies such as China, India, and Indonesia is projected to drive growth of the Asia Pacific light tower market over the forecast period.
Increasing government activities, especially in regions such as North America, Asia Pacific, and Europe, in infrastructure development is expected to have a positive impact on the global light tower market. In addition, there is no direct substitute for light tower. Growing acceptance of LED-based light towers among mining and oil and gas industry end-users, as they offer more efficiency and optimum lighting performance as compared to the other types are majors boosting market growth currently.
Moreover, the markets in Middle East & Africa and Latin America are also projected to witness moderate growth over the forecast period, and are expected to offer major opportunities for prominent players and new entrants in the forthcoming years.
Global Light Tower Market segmentation:
Segmentation on the basis of type:
- Light Emitting Diode
- Metal Halide Lamps
- Electrodeless Lamps
Segmentation on the basis of fuel type:
- Diesel Engine
- Battery
- Solar
- Hydrogen
Segmentation on the basis of mobility:
- Mobile
- Stationary
Segmentation on the basis of end user:
- Construction
- Mining
- Disaster Relief & Emergency
- Oil & Gas
Segmentation on the basis of region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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- Aerotech Inc.
- 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.