Light Towers Market

SKU: DM2544 | Last Updated On: Oct 27 2022 | Available Formats

> Global Light Towers Market is Expected to reach a high CAGR of 4.9% By 2029: DataM Intelligence

Global Light Towers Market is segmented By Light Type (Metal Halide for Light Towers the industry, LED), By Source Type (Solar/Hybrid, Diesel, Hydrogen Fuel Powered, Direct Power, Others), By End-User (Oil & Gas, Mining, Construction, Events & Sports, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Light Towers Market is expected to grow at a high CAGR of 4.9% during the forecasting period (2022-2029).

Light Towers Market - Strategic Insights

Metrics

Details

Market CAGR

 4.9%

Segments Covered

By Light Type, By Source Type, By End-User and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Light towers are the equipment with an attachment of the mast and high-intensity electric lamps used for providing the lightings in remote locations. The lighting tower has significant use in the building & construction to provide the proper light. The lighting towers can be powered by generators, direct electricity, diesel, and solar cells. The solar-powered lighting towers are booming in the market owing to rising government subsidies for the sustainable environment.

Market Dynamics:

The market is driven by the rising demand for lighting towers for a wide range of applications, including building & construction, mining commercials, and many others worldwide. According to Climate Energy Group Organization 2020, the lighting market was valued at around USD 160 billion in 2020; this includes the lighting required for the towers, which are most commonly used in the building and construction sectors.

There is a rise in the innovative technology adoption for energy-efficient lightings, with a surge in government supports and programs that has created a huge opportunity for this market. For instance, on 24th Jul 2019, The San Jose Light Tower Corporation launched the competition worldwide to design the world's epicenter of innovation of lighting. The San Jose Light Tower Corporation Company announced the stipends of USD 150,000 for those who have perfect energy-efficient proposals and meet with government agencies.

Segment Analysis

The global light towers market is segmented based on light type, source type, end-users, and region.

In terms of a light type, the global Light towers market is bifurcated Metal Halide and LED. Among these, the LED segment has the highest market share in 2019 due to increasing demand for efficient lightings, reducing the cost of operation. According to the JRC Scientific and Policy Report in 2015, the global Led lighting market has generated around USD 32.3 billion. The market is increasing at a compound annual growth rate of 12%.  FurtAccordingthe International Energy Association Report in 2019, In 2019 LED lightings, including bulb tubes, modules, and luminaires sale had hatched over 10 billion units. This has a huge contribution to manufacturing the light towers required at construction sites of residential and commercial.

Similarly, metal halide segments are also growing faster due to raising the global demand for infrastructure development with government projects and launching advanced technology energy-efficient lights all over the world.  For instance, on 1st March 2018, Terex Company launched the RL4 LED, which can be powered by Gas used in the light towers. This gas-powered lighting tower has precise lighting performance, towable, self-powered model attached with metal halide units that boast clean and quiet operation.

Depending on the source type, the global light towers market is divided into solar/hybrid, diesel, hydrogen fuel-powered, direct power, etc. Among this diesel, the segment has the highest market share in 2019 due to ease in operating in remote locations like oil and gas mining sectors with cost-effectiveness compared to other types in off-grid regions.

Similarly, solar/hybrid, hydrogen fuel-powered, direct power segments are also growing faster due to increasing government projects to build solar street lights and rising the adoption of direct power lighting towers in the construction, residential and commercial sectors. According to the global association for the off-grid solar energy industry, the World Bank Group has decided to invest in solar energy lighting for the 840 million people where grid electricity is not available.

Depending upon the end-user, the global light towers are segmented into Oil & Gas, Mining, Construction, and Events & SporThe the construction segment has the highest market share in 2duewing to an increase in the global building & construction projects with a surge in demand for infrastructure developments. According to the We Forum Organization report in 2016, the construction industry has been generated around USD 10 trillion of revenue, accounting for the 6% of the global GDP.

Similarly, oil & gas, mining, and events & sports segments are also growing faster due to raising the oil and gas production & exploration activities around the globe.

Geographical Presentation

By region, the global light towers market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific is the dominant region for the global Light towers market. It is expected to grow at the highest CAGR during the forecasted period due to leading manufacturing players’ lighting materials with growing population demand followed by the North American region. According to the Asian Development Bank, the Asia Pacific region was invested around USD 26 trillion from 2016 to 2030. Thus the infrastructure development had been accounted for the annual growth of USD 1.5 trillion per year. This propels the demand for lighting towers for helping the development of the infrastructures.

North America is also growing faster for the light towers market, owing to raising the construction, mining, and oil & gas sectors market. According to the Gold Organization Report in 2019, the gold mining capacity n the United States, Canada, and Peru was around 200, 182, and 143 tonnes. Thus the mining sector has a huge requirement of the lighting tower for the helping extraction of gold.

**Source: DataM Intelligence Analysis

Competitive Analysis

The global Light Towers market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. They are the leading market players with significant market share.

Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 10th Sep 2018, United Rentals Company acquired BlueLine Rental for USD 2.1 billion. United Rentals Company had boosted the acquisition of the customers of both construction and industrial businesses to provide attractive returns.

FAQ

What is the Light Towers Market growth?

The market is growing at a CAGR of 4.9%.

Which region controlled the global market during 2022-2029?

North America region Controls the Functional Pet Food Market during 2022-2029.

Which is the fastest growing region in the Functional Pet Food Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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