Light Towers Market Estimated to Record Highest CAGR by 2018 to 2027
Posted by Arslan on June 17th, 2019
The purpose of this comprehensive forecast report presented by FactMR is to elaborate the various market projections impacting the global light towers market size during the period through 2018-2027. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the light towers market during the forecast period.
The light towers market is moderately-consolidated landscape, with tier 1 players accounting for nearly 38-41% revenue share. Significant barriers for entering into the market such as high manufacturing costs and stringent environmental regulations have created favorable circumstances for the established players to retain their buoyancy in the light towers market space.
The tier 1 players remain highly attentive toward research and development for offering economically and environmentally responsible products and services in line with the end-user specifications. With mergers and acquisitions being key elements of their strategies, the tier 1 companies also remain oriented toward expansion of customer outreach with seamless product differentiation.
Shift from Traditional Laydown Mast to Vertical Mast Design - A Key Trend for Rental Companies
Companies offering light tower rental services are focusing on meeting end-user demand. With tremendous reformations witnessed by the light towers market in the past few years, the rental companies are vying to keep up with latest trends to get the best returns on their investments. One of such noticeable trends is the shift from traditional laydown mast to vertical mast design.
The vertical mast orientation, on the back of its upright position, facilitates transportation of maximum units per trailer, thereby resulting in reduced shipping costs. Moreover, a vertical mast also entails minimum set-up owing to its upright configuration, which helps in significant savings in terms of time. From the end user perspective, a vertical mast has been equally beneficial as it enhances safe and easy deployment on the job site with no congestion.
Lighting requirements for outdoor construction sites are leading to increased adoption of light towers, which enables the workers to carry out their tasks till late evenings in a hassle-free manner. Safety remains one of the key factors necessitating adoption of light towers across outdoor construction sites to facilitate substantial illumination.
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While the preference of fixed light towers remain unchanged, deployment of portable light towers is on a consistent rise across multiple construction sites. With the demand for portable light towers witnessing a sharp rise, it is highly evident that competition between the manufacturers will get intensified, in terms of offering the handiest products at affordable rates.
LED Lights Surge in Popularity with Enhanced Illumination and High Fuel Efficiency
End users, with an objective of having greater coverage of light, are showing a marked preference for LED lights and moving away from metal halide lights. LED lights continue to gain considerable prominence among contractors owing to their exceptional service life and instant on/off capabilities.
Another major feature of LED light responsible for fostering its popularity is longer life cycle as compared to that of a metal halide light, which results in enhanced performance. LED lights are also being highly sought-after on the back of their superlative fuel efficiency, twice as that of metal halide lights, which makes them capable of operating twice as long on the same quantity of fuel.
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About the AuthorArslan
Joined: December 18th, 2017
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