A recent report published by Infinium Global Research on light tower market provides an in-depth analysis of segments and sub-segments in the global as well as regional light tower market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional light tower market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global light tower market. According to the report, the global light tower market is projected to grow at a CAGR of 5.8% over the forecast period of 2019-2025.
The light tower market has seen a remarkable transformation in the last few years. The light tower market is shifting from the traditional laydown pole to a vertical pole design. The vertical positioning reduces the chance of damage resulting from a collision with other equipment. The trend toward LED lamps continues to drive the market as the cost and illumination quality becomes more competitive with traditional metal-halide lighting. LED lights are as twice as fuel efficient as metal-halide lights. One major innovation in light tower controls is the automatic start and stop option which allows the light tower to automatically turn on and off based on ambient light. The auto start and stop option ensure the customers gain greater efficiency from the light tower rental.
The growing demand for energy has accelerated operations in the oil & gas industry and the mining industry, which is the major growth factor of the light tower market. Furthermore, factors such as the increasing requirement of light towers in the construction and mining industry, increased infrastructure activities such as highway construction and railway line construction are also driving the growth of the market. The demand for light towers is increasing due to its features such as high-efficient light, durable fixtures resistant to shock, weather-resistant steel cabinets, compact design that allows efficient storage and transport. However, the largely unorganized market is the major restraining factor of the light tower market. Moreover, market players have wide opportunities in solar light towers.
Geographically, Asia-Pacific dominates the light tower market due to the consistent growth in the fields of infrastructure development and real estate in the past few years and the construction industry continues to see strong growth. The factors such as growing infrastructure activities such as highway construction, railway line construction, and maintenance, bridge construction are expected to boost the market growth in the future. North America is the second largest market for light tower owing to increasing drilling activities in this region.
The report on global light tower market covers segments such as light type, fuel type, market type, and end use industry. On the basis of light type, the sub-markets include LED light tower, and metal halide light tower. On the basis of fuel type, the sub-markets include diesel powered light tower, solar powered light tower, and direct powered light tower. On the basis of market type, the sub-markets include light tower sales, and light tower rental. On the basis of end use industry, the sub-markets include construction, mining, oil and gas, and other end use industries.
The report provides profiles of the companies in the market such as Terex Corporation, Generac Power Systems, Inc., Aska Equipments Limited, Atlas Copco, Wacker Neuson SE, LTA Projects, Progress Solar Solutions, Olikara Lighting Towers Pvt. Ltd, DMI Light Towers, LIGHT BOY CO., LTD., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of light tower market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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