Global Light Towers Market Size 2024, Forecast To 2033
11 Mar, 2024
The light towers market has experienced significant growth, escalating from $5.07 billion in 2023 to $5.36 billion in 2024, with a compound annual growth rate (CAGR) of 5.6% during the historic period. This growth is attributed to rapid industrialization, strong economic expansion in emerging markets, a rise in disposable income, and increased activity in the construction sector. Moving into the future, the market is poised for steady growth, reaching $6.51 billion in 2028 at a CAGR of 5.0%. Factors influencing this growth include rising urbanization, increased investment in light tower operations, enhanced investment in infrastructure development projects, and heightened activities in oil and gas production and exploration. Noteworthy trends in the forecast period encompass a focus on fuel-saving for sustainable resource use, an increased emphasis on developing light towers using solar radiation as an energy source, providing silent and cleaner operations, product innovation for competitive market positioning, and the introduction of light towers with monitoring sensors to enhance overall equipment effectiveness (OEE) on the production line.
Global Light Towers Market Key Driver
The light tower market is witnessing substantial growth driven by increased infrastructure activities across various sectors. Light towers, crucial for providing illumination in remote construction sites and other infrastructure projects during night operations, enhance safety and productivity. In June 2021, Stats NZ Tatauranga Aotearoa reported a 3.7% increase in building activities in March 2021, with residential activities rising by 4.3% compared to 2020. The US Census Bureau highlighted a 10.2% growth in the value of construction activities from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. This surge in infrastructure activities becomes a key driver for the light tower market, with market size values for 2023, 2024, and 2028 playing a crucial role in shaping this growth trajectory.
Get A Free Sample Of The Global Light Towers Market ReportGlobal Light Towers Market Segments
The light towers market covered in this report is segmented –
1) By Product: Stationery, Mobile
2) By Fuel Type: Solar or Hybrid, Diesel, Direct Power
3) By Technology: Manual Lifting, Hydraulic Lifting
4) By Lighting: Metal Halide, LED, Electric
5) By End-User: Oil & Gas, Mining, Construction, Events & Sports, Other End Users
By Geography:The regions covered in the light towers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America and Asia-Pacific were the largest regions in the light tower market in 2023. During the forecast period, Asia-Pacific is expected to be the fastest-growing region. The regions covered in the light towers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Light Towers Industry Players
Atlas Copco, Generac Holdings Inc, Wacker Neuson Group, Terex Corporation, JLG Industries Inc, Doosan Portable Power, The Will-Burt Company, INMESOL S.L.U, Olikara Lighting Towers Pvt, United Rentals Inc, Eneraque, Larson Electronics, Trime UK, Wanco Inc, Milspec Generac Mobile, PR Power, Robuster Lighting, Briteforce, Southern Cross Industrial Group, JLG Lighting Towers, Rishabh Engineering Company, Red Mobile Light Tower Generators, Lighttec India Ref Mobile Light By Ajanta Export Industries, Diamond Member, Audited Supplier Fujian, Fire Truck Mounted Mobile Telescopic Mast Lighting, Leonardo, Thales Group, CILAS, MBDA, Kalashnikov Group, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Applied Technology Associates, Alma Lasers Ltd, Laser Ammo, Sarine Technologies Ltd, Meprolight, STI Laser Industries, NeoLaser, Zmed Laser, ARIEL Photonics Assembly, LaserOp, LASER FZCO, Matrix Laser, Trotec laser, Digi Matrix Technologies.
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Light Towers Market Overview
Light towers are mobile equipment consisting of high-intensity electric lamps and masts, along with a trailer attached to it with a generator setup at the back to power the bulbs when insufficient artificial or natural light is present. In light towers, power is usually generated from diesel, solar energy, batteries, or hybrid methods to illuminate bulbs. Light towers are used in construction, infrastructure development, the oil and gas industry, mining, the military and defense, as well as in emergency and disaster relief.
Light Towers Global Market Report 2023 provides data on the global light towers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The light towers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.