Light Tower Market Worth Over $6 Billion by 2027, Says Global Market Insights Inc.
Light Tower Industry revenue is expected to register over 6.5% CAGR between 2021 and 2027 owing to increasing occurrences of casualties on construction sites along with growing focus toward worker's safety.
SELBYVILLE, Del., September 27, 2021 (Newswire.com) - The light tower market revenue is set to surpass USD 6 billion by 2027, as reported in the latest study by Global Market Insights Inc. Increasing investments in the industrial and construction sectors along with rising requirements to operate these sites regardless of weather and time adversities will stimulate the product adoption.
Electric light tower industry will observe significant growth due to the introduction of stringent regulatory mandates addressing critical needs while minimizing emission levels and promoting environmental sustainability. Modernization and refurbishment of existing industrial establishments and structures owing to strict norms are set to augment product demand.
The growing need for lighting across remote locations that include construction activities, operations in the O&G or mining industry, and emergency or rescue parameters will strengthen the industry outlook.
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Low maintenance, easy installation, and minimal upfront costs are some of the key factors positively encouraging the demand for diesel-powered units. In addition, the rising frequency of mishaps and critical accidents, specifically during night construction, has accelerated the demand for reliable units. The accessibility to a variety of resistant & tough mobile light towers equipped with high-quality specifications will strengthen the business dynamics.
Some major outcomes of the light tower market report are as follows:
- The demand for light towers is flourishing across the mining, infrastructure, oil & gas, construction industries as a source of lighting.
- Rising investments across construction activities are anticipated to complement the business landscape.
- Eminent players operating across the light tower industry include Atlas Copco, Generac, Doosan Portable Power, Allmand and Wacker Neuson amongst others.
- Solar & hybrid lighting towers have witnessed significant momentum due to strict regulatory mandates pertaining to job site safety.
Browse key industry insights spread across 520 pages with 866 market data tables & 46 figures & charts from the report, "Light Tower Market Size By Channel (Sales, Rental), Product (Stationary, Mobile), Lighting (Metal Halide, LED, Electric), Power Source (Diesel, Solar, Direct), Technology (Manual Lifting, Hydraulic Lifting), Application (Construction, Infrastructure Development {Highway Construction, Railway Line Construction, Bridge Construction}, Oil & Gas, Mining, Military & Defense, Emergency & Disaster Relief), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/light-tower-market
Light tower market from hydraulic units is anticipated to gain momentum due to the rising focus toward automated technology along with easy-to-use systems. The ability of these systems to be raised or lowered by the introduction of touch & tap technology will reduce downtime, in turn, increasing productivity by enabling simple, safe & quick operation.
Ongoing government efforts to upgrade the transport infrastructure coupled with the growing retail, manufacturing, and tourism sectors will strengthen the business dynamics. Rising demand for hybrid equipment including rechargeable battery packs integrated with backup diesel generator sets will augment the product installation.
UK accounted for over 14% of the light tower market revenue share in 2020. A positive development in economic conditions along with growing ventures across transport infrastructure, energy, and housing projects will positively complement the industry statistics. Increasing investments in the refurbishment and development of railways together with other initiatives toward construction & infrastructure will accelerate the product deployment.
Browse the ToC of this report @ https://www.gminsights.com/toc/detail/light-tower-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights Inc.
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Tags: Construction, Electric, Infrastructure Development, LED, Light Tower Market, Metal Halide, Mobile, Stationary
