Light Tower Market by Light Type (Metal Halide, LED), End-User (Construction, Oil & Gas, Mining), Fuel Type (Diesel, Solar, Direct), and Region - Global Forecast to 2022
“The light tower market is projected to grow at a CAGR of 6.1% from 2017 to 2022.”
The light tower sales market is projected to reach USD 2.72 billion by 2022, growing at a CAGR of 6.1% from 2017 to 2022. Light towers are used by the construction industry, oil & gas sector, mining industry, and others, which includes agriculture, airports, emergency services, military, rentals, social & sports events, and motion pictures. Light towers mainly comes with two types of light, namely, metal halide lights and LED lights. The growth of light towers is driven by a rapid growth in the construction industry, growing investment in the oil & gas sector, and restart of investment in the mining industry. The large unorganized market is a main restraint for the growth of the light tower market. High initial cost of solar-powered light towers and LED lights, is the main challenge for the solar-powered LED light tower market segment.
“Construction end-user segment is expected to grow at the highest CAGR from 2017 to 2022”
Based on end-user of light towers, the construction end-user segment is estimated to be the fastest growing segment from 2017 to 2022. A rapid growth in the construction sector in the Asia-Pacific region is expected to drive the market for global light tower. Countries such as China and India are investing heavily in the developing transport infrastructure to support their growing economies, which is expected to drive the construction end-user segment during the forecast period.
“Asia-Pacific: The largest market for light tower”
Asia-Pacific is currently the largest market for light towers followed by North America, Europe, and the Middle East & Africa. The market in the Asia-Pacific region is projected to grow at a higher rate, with China expected to dominate the market. The growth of the construction and mining sector in countries such as India, China, and Australia are expected to fuel the light tower market.
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, among other experts, 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 1- 35%, Tier 2- 45%, Tier 3- 20%
By Designation: C-Level- 35%, D-Level- 25%, Others- 40%
By Region: North America- 45%, Asia-Pacific- 30%, Europe- 20%, ROW- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.
The key players in the light tower market include Generac Holding, Inc. (U.S.), Atlas Copco (Sweden), Doosan Corporation (South Korea), Terex Corporation (U.S.), and Wacker Neuson (Germany).
The report provides a picture on the light tower market and its types across industries and regions. It aims at estimating the market size and future growth potential of this market across different segments such as fuel type, end-user, market type, light type, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Why buy this report?
1. The report identifies and addresses key markets for light tower, which would help suppliers review the growth in the demand for the product.
2. The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.