Light Tower Market size to exceed $6bn by 2027

Light Tower Market size is anticipated to surpass USD 6 billion by 2027, as reported in the latest study by Global Market Insights, Inc.
 

The light tower industry is estimated to witness growth due to the rising number of infrastructural projects along with rapid ongoing programs for the development of smart cities. Surging requirements to execute transport-related maintenance & construction operations during nighttime, especially across urban areas and big cities to minimize the conflict with public transportation will encourage product deployment.

 

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The COVID-19 pandemic hit the global economy in an unprecedented manner. The pandemic resulted in strict lockdowns by respective governments of several nations and further leading to imposed curfews as a result of the rising number of patient count. Several industries have faced ceased production activities owing to labor shortages and discontinued manufacturing machinery. However, escalated construction of healthcare establishments including quarantine centers and hospitals to cater to the requirement of the COVID- 19 protocols will propel the market statistics.
 

Product innovation along with enhanced aesthetics, improved functioning and low component cost will fuel the sale light towers

Increasing safety concerns across construction sites to avoid fatal injuries or accidents will stimulate the sale of light towers. The introduction of safety standards by corresponding government authorities including the Standard Industrial Classification (SIC) along with the Mine Safety & Health Administration (MSHA) to stop casualties at job sites will further augment product installation. The extensive disposal of cost-efficient alternatives together with high equipment costs may adversely hamper the business dynamics. A positive stance toward the construction, O&G, and mining industries coupled with rising demand for these units during emergency and disaster relief situations is set to propel the industry outlook.
 

Stringency in government norms due to rising awareness towards combatting emissions will fuel the light tower market growth

LED will gain momentum owing to the introduction of stringent regulatory norms & standards to reduce CO2 emissions together with requirements for energy-efficient equipment. Easy maintenance, extended lifespan, and minimal fuel consumption along with enhanced performance in extreme weather conditions compared to its existing counterparts are some of the major factors accelerating the product adoption.
 

Browse key industry insights spread across 520 pages with 866 market data tables & 46 figures & charts from the report, “Light Tower Market Statistics By Channel (Sales, Rental), Product (Stationary, Mobile), Lighting (Metal Halide, LED, Electric), Power Source (Diesel, Solar, Direct), Technology (Manual Lifting, Hydraulic Lifting), Application (Construction, Infrastructure Development {Highway Construction, Railway Line Construction, Bridge Construction}, Oil & Gas, Mining, Military & Defense, Emergency & Disaster Relief), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/light-tower-market

 

Cost efficiency and easy availability of diesel gensets attached to light towers is set to drive the market statistics

Diesel light tower market will observe significant growth due to reliable performance, scalability, high flexibility, and elongated engine lifespan. The simplicity of operations and cost efficiency along with day-and-night power availability are major factors augmenting the business landscape. These units have been facing challenges owing to developing hybrid technologies and sifting focus on accessing solar sourced systems favored by environmental regulations & strict emissions standards. Although, easy availability of fuel and declining cost as a result of effective manufacturing and R&D capabilities are key underlying parameters accelerating product demand.
 

Increasing mining and construction activities will drive the Middle East light tower market size

Increasing construction activities coupled with growing requirements to operate and control these sites irrespective of time & weather will complement the product adoption across Middle East. The extensive network of end-user industries including construction and oil & gas across the region accompanied by a growing need to curb carbon footprints and stringent government policies for energy conservation will boost the market growth. These units are cost-effective and environmental-friendly that require low maintenance. Due to the above-mentioned benefits, the units will witness increasing demand from the pharmaceuticals, FMCG, and electronics assembling industries, thus positively encouraging business prospects across the regional light tower market.
 

Eminent players working across the light tower industry are focusing on introducing cost-effective and advanced technological innovations through strategic collaborations, joint ventures, and mergers & acquisitions to sustain a competitive edge over other manufacturers across the industry. Key players comprise Generac, Aska Equipments, LTA Projects, Progress Solar Solutions, The Will-Burt Company, Terex Corporation, Wacker Neuson, Atlas Copco, Olikara Lighting Towers, Light Boy, Allmand, Larson Electronics, Doosan Portable Power, Trime, Chicago Pneumatic, JC Bamford, United Rentals, Caterpillar, Colorado Standby, and Multiquip amongst
 

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