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The global light towers market size is expected to reach USD 6.1 billion by 2024, at a CAGR of 5.5% from 2019 to 2024
The global light towers market size is projected to reach USD 6.1 billion by 2024 from estimated revenue of USD 4.7 billion in 2019, at a CAGR of 5.5% during the forecast period. The factors driving the market include increasing investment in oil & gas and construction infrastructure spending across global regions such as North America, Europe, and Asia Pacific.
“Rental segment is expected to dominate the light towers market”
The rental segment is expected to be the largest market, by market type, during the forecast period. The growth is evident owing to the rising demand for light towers in short time/temporary projects in construction infrastructure projects, events & sports, mining, and oil & gas sectors.
“Diesel segment is expected to dominate the light towers market“
The diesel segment of the market, by fuel type, is estimated to be the largest during the forecast period. The growth is attributed to the easy and long reliability of diesel power light towers. In addition, in remote and off-grid applications where access to grid power is non-existent, diesel light towers are increasingly used. Solar/hybrid is the second-largest market in terms of demand for light towers.
“North America to lead the global light towers market in terms of value”
North America is the largest light towers industry, followed by Europe and Asia Pacific. The market is projected to be the fastest-growing market during the forecast period owing to rising investments in construction infrastructure development, oil & gas exploration activities, and mining sector operations in the US and Canada. The market is driven further by the presence of many global manufacturers and rental providers of light towers in the countries.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier I–61%, Tier II–19%, and Tier III–20%
- By Designation: C-Level–56%, Director Level–30%, and Others–14%
- By Region: North America–40%, Europe–30%, Asia Pacific–10%, Middle East & Africa–10%, South America–10%
Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017?Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3:
The global light towers market is dominated by leading players that have an extensive regional presence. The leading players in the light towers industry include Generac Holding (US), Terex Corporation (US), Doosan Portable Power (US), Wacker Neuson (Germany), Atlas Copco (Sweden), and United Rental (US) and others.
The report defines, describes, and forecasts the light towers industry, by market type, fuel type, light type end-user, and region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the light towers market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global light towers market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the light towers market and provides them with information on key market drivers, restraints, challenges, and opportunities. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
- The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall light towers market and the sub-segments.
This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.