June 01, 2020
According to the research report titled ‘Light Tower Market Size By Product, By Lighting, By Power Source, By Technology, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global light tower market is expected to generate revenues worth USD 4 billion by the year 2026.
As per product type, stationary light tower market segment is predicted to expand with a CAGR of 5% during 2020-2026. The equipment offers various benefits such as ability to cover large areas, easy installation processes and low maintenance. It not only improves public safety, but also reduces energy wastage. Growing demand for lighting solutions in order to illuminate company campuses, colonies, industries, infrastructures, highways and roadways are fueling the segmental growth. Additionally, increasing number of smart city projects is also contributing towards popularity of stationary light towers across the globe.
In terms of lighting, metal halide lamps segment is projected to showcase substantial growth during the study period. Metal halides are cost-efficient lighting systems which offer longer lifecycle. They provide exceptional color rendering properties, alongside crisp and bright lighting capabilities. Metal halide lamps are extensively adopted across warehouses, stadiums, sports fields, street lighting and parking lots.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2484004/
In terms of technology, manual lifting system segment is reckoned to witness a y-o-y growth rate of 6% between 2020-2026. These lifting systems assist in enhancing safety by enabling movement of light according to the users’ needs, especially in the remote areas. The technology is widely adopted in army & civil defense activities, open arena events, residential/emergency situations and roadwork.
The report states that the construction application segment held 25% market share in 2019 and is predicted to showcase continuous growth during the study period. Light towers are significant across numerous construction sites to work in night conditions. They are usually powered by diesel generators.
On the other hand, worldwide light tower market share from emergency & disaster relief application is slated to record 8% growth rate between 2019 and 2026. The product plays a vital role during nighttime operations. These light towers are widely employed in extreme weather and environmental conditions, since they are user friendly and easy to move from one place to another. Moreover, since electricity is unavailable during disasters or emergency situations, emergency light towers can be powered, to optimize rescue operation, using alternative fuel sources.
Regionally, Middle East & Africa held 7% share of total light tower market revenue in 2016 and is estimated to generate lucrative returns in the subsequent years. Increasing infrastructure development and rapid industrialization in Africa are swaying the business dynamics in the region.
Inmesol SL, Trime Srl, Youngman Richardson & Co. Ltd., Colorado Standby, J C Bamford Excavators Ltd., Larson Electronics LLC, Chicago Pneumatic, Doosan Portable Power, Light Boy Co. Ltd., DMI Light Towers, Olikara Lighting Towers, Wacker Neuson Group, Atlas Copco., Progress Solar Solutions LLC, LTA Projects, Terex Corp., Generac Power Systems, Aska Equipments Ltd. and The Will-Burt Co. are the key participants in global light tower market.