As per the research report titled ‘Global Signal Tower Light Market Size study with COVID Impact, by Type (Modular Signal Towers, Pre-assembled Signal Towers) by Application (Oil and Gas, Chemical and Pharmaceutical, Food and Beverages, Energy and Power, Mining and Others) and Regional Forecasts 2020-2027’ global signal tower light market is projected to grow substantially during 2020-2027.
 

For those uninitiated, signal tower lights are adopted by a wide variety of industries that require transmission of visual and audible machine state signals. The signals are generally mounted on control panels or machines and can be identified from a long distance.
 

Factors such as surging demand for the signal towers lights in the oil & gas vertical coupled with rising investments towards developing light towers in events & sports, mining, and construction operations, are fueling the growth of the market.  
 

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Furthermore, increasing infrastructural activities such as construction of highways and railway lines are further encouraging the market expansion. On the contrary, high maintenance of the light, rising concerns regarding the issues associated with the batteries, and lack of organization in the industry are expected to impede the growth of the market.
 

Based on type, global signal tower light market is split into pre-assembled signal towers and modular signal towers. With regards to the application spectrum, the market is bifurcated into mining, energy & power, food & beverages, chemical & pharmaceutical, oil & gas, and others.
 

Regionally, North America signal tower light market accounted for largest market share in 2019 and is expected to show similar growth throughout the forecast period. Increasing investments towards oil & gas explorations along with rising infrastructural developments, predominantly in U.S. and Canada are driving the expansion of the regional market.
 

On the other hand, Asia-Pacific is predicted to emerge as a lucrative opportunity for the market remuneration by the year 2026, owing to high concentration of leading petroleum refineries, surging demand for light towers in crude oil pipelining activities, and increasing mining activities in Australia, China, and India.
 

Key participants of worldwide signal tower light market are Edwards Signaling, Moflash Signalling Ltd, Pfannenberg Incorporated, Sirena S.p.A, Auer Signal GmbH, Schneider Electric, Eaton Corporation PLC, WERMA Signaltechnik GmbH + Co. KG, Rockwell Automation Inc., Federal Signal Corporation, and Patlite Corporation among others.