Light Towers Market Growth & Forecast Analysis | 2022-2028

Market Insights

The light towers market was estimated at USD 4.5 billion in 2021 and is likely to grow at a CAGR of 5.75% during 2022-2028 to reach USD 6.67 billion in 2028.

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The major factor driving the growth of the market is the increasing investment towards light towers operation in end-use industries such as construction, oil & gas, mining, and events & sports.

What is a light tower?

Light Tower is a permanent or stationary source of flood flight, which is ideal for use in a wide array of industries. The light towers can be categorized based on light type into metal halide and LED. These towers are powered by diesel, solar/hybrid, and direct power. They are widely used in industries such as oil & gas, mining, construction, events & sports, and others.

Segment Analysis

By Market Type

Based on the market type, the market is segmented as sales and rental. The rental segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period. Strong demand from North America and Asia-Pacific along with the need for lower capital investment is the major factor driving the rental segment.

By Light Type

Based on the light type, the light towers market is segmented as metal halide and LED. The metal halide segment dominated the market in 2021, owing to increased demand from oil & gas and mining industries. On the other hand, the LED segment is expected to witness higher growth, during the forecast period, owing to the increasing demand for energy-efficient lighting systems.

By Fuel Type

Based on the fuel type, the market is segmented as diesel, solar/hybrid, and direct power. The diesel segment held the largest share of the market in 2021, owing to the fact that these light towers are operated in remote off-grid locations where access to grid power is non-existent. Further, diesel fuel is comparatively more economical than other fuel sources.

Regional Insights

In terms of regions, North America is estimated to be the largest market during the forecast period. Strong investment towards infrastructure development and increasing oil & gas activities are the major factors driving the North American market. Asia-Pacific is expected to be the fastest-growing market, with China, Singapore, South Korea, Japan, and India being the major countries with lucrative growth opportunities.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Market Type

• Sales
• Rental

By Light Type

• Metal Halide
• LED

By Fuel Type

• Diesel
• Solar/Hybrid
• Direct Power

By End-Use Industry Type

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

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major suppliers in the light towers market are-

• Generac Holding
• Terex Corporation
• Doosan Portable Power
• Wacker Neuson
• Atlas Copco
• United Rental

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.