The global light towers market is classified on the basis of light type, source type, end user, and geography. With respect to light type, the market is bifurcated into metal halide and LED. In terms of source type, the market is grouped into solar or hybrid, diesel, hydrogen fuel powered, and direct power, among others. Further categorization of end user section includes events & sports, construction, mining, oil & gas, and others.
The report is based on qualitative and quantitative analysis of the market for light towers and discusses the factors promoting and demoting its growth. It also emphasizes on the impact of the novel coronavirus pandemic on this market and how can this market continue generating significant revenues in the coming years despite this pandemic.
Light Towers Market: Nature of Market
Players are engaging in both organic and inorganic strategies in order to attain their position in the global market for light towers. At present, Generac Holding is the dominant player of this market and their new product MLTS LED light tower launched in July 2019 generated significant revenue in the past. In addition to this, other players are indulging in products that provide simplified controls, even lighting, and require minimum or low maintenance.
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Some of the players operating in the global light towers market include;
- Wacker Neuson, Doosan Portable Power
- Terex Corporation
- United Rental
- Atlas Copco
Light Towers Market: Drivers and Restraints
A key factor boosting the global light towers market is the rising number of roacd accidents that caused deaths most of the time. Additionally, the increasing need for lighting in remote locations and increasing need for proper lighting by the building and construction sector is also promoting the growth of this market. The government of various nations introduced stringent regulations on environment degradation and protection to control the emission rate. They are also investing heavily on the energy performance improvements to compliment the statistics of light tower market. In addition to this, the growing demands for modernization and refurbishment of the already existing infrastructure to stimulate the product demand and supply chain.
Light Towers Market: Geographical Analysis
Regionally, the global light towers market is dominated by North America, followed by Europe. This is owing to the increasing number of construction and building activities, coupled with the rapid industrialization. On the other side, the market in Asia Pacific is expected to attract notable revenues on account of the rise in construction and mining activities. This, coupled with the increasing demand for light towers from the oil and gas sector will also aid in expansion of the Asia Pacific market in the coming years.
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