Light Tower Rental Market Size

Light Tower Rental Market Size

Light Tower Rental Market size was valued at USD 3.3 billion in 2023 and is projected to record over 6.7% CAGR from 2024 to 2032, due to increasing investments in infrastructure globally. Growing initiatives by the government for smart city projects such as the Smart Cities Mission of India have increased the number of industries and elevated the need for light tower rentals across the globe. Moreover, many governments across the world are investing heavily towards boosting their industrial and commercial infrastructure, which will further increase the scope for product use. In January 2023, the U.S. government allocated USD 1.2 billion for nine mega infrastructure projects across the country. The global light towers market revenue is expected to cross USD 10.9 billion by 2032.

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Despite a broad scope for product adoption, the unavailability of rental service providers in places affected by unprecedented natural calamities is increasing operational downtime, affecting the demand for light tower rentals. Besides this, the industry also faces challenges due to a lack of skilled light tower operators in major parts of the world. In this regard, many light tower service providers have initiated upskilling programs, which may strengthen light tower rental market outlook.