Mobile Light Tower Market is anticipated to grow considerably through 2032, owing to the notable tech innovations in the lighting components of mobile light towers. Besides, integrating several clean power solutions, such as fuel cells, renewable sources, and others, will also positively augment product penetration in the coming years. Powerful lighting coverage, low noise, wide range application, and fast, easy setup are some of the key product benefits that will surge the implementation of mobile light towers in the future.
The key providers in the market are engaging in strategic initiatives such as mergers and acquisitions, partnerships, R&D investments, and new product launches to gain a competitive edge in the industry. To cite an instance, in October 2022, Larson Electronics unveiled Megatower Lights. These lights are outfitted with 16, high-powered LED lights secured on an adjustable mast for large-scale lighting. The lights are powered by an 11 kW genset meaning tower and can be used in areas where power is not available.
Overall, the mobile light tower industry is segmented in terms of lighting, power source, technology, application, and region.
Considering the lighting, the metal halide segment was valued at over USD 1 billion in 2022. The segment is projected to showcase lucrative gains throughout 2023-2032, owing to the ongoing R&D projects for reducing emissions associated with the mobile light towers. Besides, rising concerns and strict rules imposed by the government to offer safety at the workplace will drive the demand for metal halides for light towers.
Based on the power source, the diesel segment is anticipated to register growth by 2032 end. Easy accessibility, low maintenance, high storage capacity, and affordability are some of the key factors slated to escalate the segment expansion during the estimated timeframe.
By technology, the manual lifting segment is estimated to grow considerably owing to its wide application in areas where mobile light towers are required for less time. Besides, compared to hydraulic lifting, these units are relatively less expensive, further assisting their deployment in different commercial functions and events.
Considering the application, the military & defense segment is expected to exhibit significant growth by 2032 end. The growth can be attributed to the ongoing geopolitical scenarios, including the Russia-Ukraine war, along with constant innovations in the industry by leading government bodies for reinforcing their defense and military forces.
Regionally, the North America mobile light tower market is expected to register notable gains over the next ten years. The increasing construction activities and spending in the region is speculated to push the product demand. As per the Census statistics, the construction spending in the United States during November 2022 was reported to be more than $1.8 trillion.