According to Fact.MR, the light tower market is projected to exceed $2 billion in value, at a CAGR of 5% during the forecast period 2021-2031. Light tower manufacturers are focused on adopting renewable energy resources or solutions that do not harm the environment.
Historically, between 2016 and 2020, the light tower market generated revenue of approximately $1.2 billion in 2020, expanding at a CAGR of approximately 4%. Changing workplace environments, innovations in light towers, and durability of light towers are expected to have a positive impact on the light tower industry. The outlook fell sharply in the early months of the COVID-19 pandemic, but unlocking in the second half helped boost the market through the recession trend.
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By lamp or lighting type, the LED lighting segment is expected to gain great traction in the coming period. LED lighting has become popular because it does not emit toxins and provides a quiet environment. Likewise, manufacturers are promoting product launches and innovation by emphasizing the introduction of other similar sustainable light sources to power light towers.
Highlights of market research
- The global lighting tower market will increase 1.6 times in value by 2031 compared to 2021.
- LED-based lighting towers by lamp will generate revenue equivalent to 52% of global market by 2031
- By power, solar light towers will expand at a CAGR of 4.7%.
- Diesel-powered lighting towers occupy more than half of the total market and maintain a dominant market share
- Construction by end-use industry will create $195 million worth of opportunity by 2031
- The United States is projected to register an absolute opportunity valued at $190 million at a CAGR of 5% over the forecast period.
- China is expected to exceed a CAGR of 8% during the forecast period.
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“The light tower market will continue to witness strong growth driven by the growing popularity of solar-based light towers in emerging and emerging markets in North America, Europe and Asia Pacific,” said Fact.MR Analyst.
competitive landscape
- In 2019, Atlas Copco invented a battery-powered light tower that works efficiently for a week. In addition, these light towers are lighter and easier to transport.
- United Rental, Generac Holdings, Wacker Neuison, Doosan Portable Power. Terex Corporation, Atlas Copco, is a prominent player in the lighting tower market.
More insights available
Fact.MR provides an unbiased analysis of the global Lighting Tower market by presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031 in New Products.
The study covers seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Africa).
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Key Players analyzed in Light Tower Market Research :
- United Rentals
- Generac Holding
- Barker Noyson
- Doosan Portable Power
- Terex Corporation
- Atlas Copco
Crude Sulfate Turpentine Market Research on the basis of Regions Includes:
- Us
- Canada
- Mexico
- Brazil
- Germany
- Italy
- France
- UK
- Spain
- Russia
- China
- Japan
- Republic of Korea
- India
- ASEAN
- Australia and New Zealand
- GCC
- South Africa
Main sectors covered
-
lamp
-
power
- battery powered lighthouse
- Diesel Powered Lighting Tower
- solar light tower
-
end-use industry
- construction lighthouse
- light tower for mining
- light towers for oil and gas
- Light towers for commercial and other end-use industries
This report covers Light Tower market insights and assessments such as: This is beneficial to all participants involved in the light tower market.
- Data light tower on recently introduced regulations and their impact on key industries and on demand
- Latest industry analysis of Light Tower market along with key analysis of market drivers, trends and influencing factors
- Analysis of key trends Light Tower market and changing consumer preferences of key industries.
- Changing light tower demand and consumption of various products
- Key Trends Highlighting Funding by Leading Investors in Multiple Countries
- New investment opportunities in different technologies and types of products or services
- Comprehensive data and competitive analysis of Light Tower Key Players
- Light Tower US market sales will grow at a steady rate, fueled by growing consumer confidence and economic recovery.
- Europe’s light tower demand forecast remains stable as many countries such as the UK, France and Germany focus on boosting growth.
Key Questions in the Light Tower Market Research Report:
- What are the current scenarios and key trends of the Light Tower market industry?
- What key strategies are businesses adopting to expand their consumer base?
- What are the key categories and future potentials of the Light Tower market?
- What are the key Light Tower market drivers and what are their projected impacts in the short, medium and long term?
- What is the size of the Light Tower market and what are the opportunities for the key players?
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