The value of the light tower market is anticipated to hit $2 billion, growing at a CAGR of 5% between 2021 and 2031, according to Fact.MR. The adoption of environmentally friendly energy sources or solutions is a priority for light tower manufacturers.
In the past, between 2016 and 2020, the market for light towers earned revenue of around $1.2 billion, growing at a CAGR of about 4%.
The light tower industry is anticipated to benefit from evolving workplace settings, technological advancements, and light tower longevity.
The COVID-19 epidemic caused the outlook to decline rapidly in the early months, but opening up in the second half helped the market overcome the recessionary trend.
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The LED lighting market is anticipated to grow significantly over the next few years, regardless of bulb or lighting type. Because it does not produce toxins and creates a calm environment, LED lighting has grown in popularity. The introduction of additional comparable sustainable light sources to power light towers is another way that manufacturers are encouraging new product launches and innovation.
Highlights of market research
- By 2031, the value of the global lighting tower market will have increased 1.6 times from 2021.
- By 2031, revenue from LED-based lighting towers will account for 52% of the global market.
- Solar light towers will grow in number by power at a CAGR of 4.7%
- More than half of the market is taken up by diesel-powered lighting towers, which continue to have a significant market position.
- By 2031, construction by end-use sector will generate $195 million in potential.
- Over the forecast period, the United States is expected to see an absolute opportunity worth $190 million at a CAGR of 5%.
- During the forecast period, China is anticipated to grow at a rate greater than 8% CAGR.
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.
Key Players analyzed in Light Tower Market Research :
- United Rentals
- Generac Holding
- Barker Noyson
- Doosan Portable Power
- Terex Corporation
- Atlas Copco
Main sectors covered
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lamp
- halide
- LED
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power
- battery powered lighthouse
- Diesel Powered Lighting Tower
- solar light tower
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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.
- Information light tower on recent legislation and their effects on important businesses and on demand
- Recent market research on the Light Tower industry is included, as well as critical analyses of market drivers, trends, and influential factors.
- Analysis of major market trends in the Light Tower industry and shifting consumer preferences.
- Changing light tower demand and product consumption
- Major Trends Highlighting Investments from Prominent Investors in Several Countries
- Opportunities for new investments in various technology and product or service categories
- Complete data and Light Tower competitive analysis Key Figures
- Sales of Light Tower in the US market will increase steadily because to rising consumer confidence and an improving economy.
- The projection for European light tower demand is stable because numerous nations, including the UK, France, and Germany
Key Questions in the Light Tower Market Research Report:
- What are the scenarios and major trends that are now influencing the light tower market?
- What crucial tactics are companies using to broaden their customer base?
- What are the market’s main segments and potential future growth areas for light towers?
- What are the main factors influencing the market for light towers, and what are the expected short-, medium-, and long-term effects?
- What are the potential for the major players and how big is the market for light towers?