Overview:

The global light towers market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Light tower is a movable or fixed light source mainly used for industrial applications such as in mining or at construction. The light tower plays important role to manage the work at night.

The light towers are powered on various energy sources including diesel generators, solar energy, or energy stored batteries. The equipment is easy to handle and portable and is designed to fit for any lighting need.

Market Dynamics:

Flourishing construction sector across the globe and increasing construction & reconstruction activities in various end use industries such as oil and gas and mining are key factors resulting in growing demand for light towers. Light towers are generally used at construction sites to keep operations smoothly running at night. Also, are used in mining sector to illuminate the sight for night time operations.

In addition, rapid technological advancements along with introduction of new solutions are other major factors expected to drive growth of the global light towers market. Advancement in light towers includes but not limited to emergence of LED bulbs, solar energy operated light towers, and others. However, rapid technological advancements and fluctuating raw material prices are key factors hampering growth of the target market to a certain extent.

Key Trends:

Growing key players focus on market expansion through introduction of new products and solutions in order to tap major customer base is the key trend observed in the global light towers market. For instance, in July 2019, Generac Power Systems, Inc. has launched MLTS LED light tower. This light tower is more powerful, simple to operate, and requires low maintenance. It also has long running time and requires low operational cost.

Regional Analysis:

For detailed understanding of market dynamics, the global light towers market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America is accounted for the major revenue share in 2019, owing to increasing mining activity in countries such as the US and Canada in the region. Also, growing spending on oil and gas exploration is expected to fuel the regional market growth in the near future.

However, Middle East and Africa is expected to witness significant growth over the forecast period. Growing mining activity and rising construction activities in countries in the region are key factors supporting target market in the region.

Scope of the Report:

Detailed Segmentation:

Global Light Towers Market, By Market Type:

• Sales
• Rental

Global Light Towers Market, By Light Type:

• Metal Halide
• LED

Global Light Towers Market, By Fuel Type:

• Diesel
• Solar/Hybrid
• Direct Power

Global Light Towers Market, By End Use Industry:

• Oil & Gas
• Mining
• Construction
• Event & Sports
• Others

Key Players Covered:

Key players operating in the global light towers market includes Aska Equipments Ltd., Generac Power Systems Inc., Terex Corporation, LTA Projects, Progress Solar Solutions,LLC, Atlas Copco, Wacker Neuson Group, The Will-Burt Company, Olikara Lighting Towers Pvt. Ltd., and LIGHT BOY Co., Ltd.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Light Towers Market by market type, light type, fuel type, end use industry, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global light towers market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.