Light Tower Market Growth Analysis and Forecast To 2029
Posted by Jack Martin on March 19th, 2020
A light tower is basically a piece of mobile equipment combined with one or more high-intensity electric lamps. In most cases, the lights stays attached to the mast, which is additionally attached to a trailer, and includes a generator which provides power to the lamps. According to this Fact.MR study, it has been investigated that lighting requirements for outdoor construction sites are motivating the increased adoption of light towers, thereby, enabling the workers to perform tasks till late evenings without much hassle. This report carefully evaluates other market factors which are linked to the light towers sector at the global level. The report titled “Light Towers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029”, works to highlight the growth course of light towers market through the end-to-end coverage of crucial aspects including market size (US$ Mn), market drivers, revenue share and geographical expanse during the period until 2029.
According to this published Fact.MR report, light tower sales are expected to surpass 191 thousand units in 2019, rising from 183 thousand units in 2018. This growth is majorly driven by swelling demand for high-quality industrial lighting systems which are steadily impacting the growth of light towers market. Fact.MR reveals in its newest report that light tower market will experience a 1.6X growth to hit a valuation of ~US$ 2.3 Bn by 2029.
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Diesel Light Towers Highlight Greater Demand in Coming Years
Based on this report study, the demand for diesel light towers is likely to reach 105 thousand units in 2019. The valid reasons for rising popularity of diesel-based light towers can be attributed to minimum maintenance requirements, enhanced performance consistency, better fuel accessibility and superlative storage capacity. It has been reported that, battery and solar light towers would acquire the titles of being the second and third lucrative types in terms of sales. Furthermore, LED light towers will outstrip the halide variants in 2019. Different favorable aspects such as cost-effectiveness and enhanced illumination quality are likely to motivate the sales of LED variants as compared to traditional metal-halide lighting.
North America Set to Offer Viable Avenues for Stakeholders
Considering the geographical aspect, North America manages to uphold its position of being a highly significant market region which offers momentous opportunities to light tower manufacturers. Furthermore, Europe is also prospective to create important opportunities for leading manufacturers during the stated forecast period.
The concluding section of the report discourse vital information about the major players operating in the global light towers market. Some of the major companies mentioned in the report include Wacker Neuson SE, Atlas Copco AB, Terex Corporation, Generac Holdings Inc., Allightsykes Pty Ltd, Multiquip Inc., Allmand Brothers Inc., The Will-Burt Company, Westquip Diesel Sales, Inmesol Gensets, S.L and Wanco, Inc.
The report delivers a crisp insight about significant entry barriers like high cost of manufacturing and uncompromising environmental regulations, which are working to favor these well-established market players in the near future. Furthermore, the tier 1 players acquire close to 38-41% revenue share together with maximum focus on solidifying customer centricity.
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About the AuthorJack Martin
Joined: August 7th, 2017
Articles Posted: 831
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