How Has The Light Towers Market Size Evolved Historically?
The light towers market has seen considerable growth due to a variety of factors.
• The scale of the light towers market has consistently expanded over the past few years. It's projected to rise from $5.26 billion in 2024 to an estimated $5.52 billion in 2025, with a compound annual growth rate (CAGR) of 4.8%.
The past growth can be credited to quick industrialization, robust economic expansion in emerging markets, an increase in disposable income, and growth in the construction industry.
What Is The Projected Growth Of The Light Towers Market?
The light towers market is expected to maintain its strong growth trajectory in upcoming years.
• The market for light towers is projected to experience consistent growth in the coming years, expanding to $6.64 billion by 2029 with a compound annual growth rate (CAGR) of 4.7%.
This growth during the forecasted period is likely due to factors such as escalating urbanization, increased funding for light tower operations, a growing investment in infrastructure projects, and a rise in oil and gas exploration and production. Notable trends expected during this period include an emphasis on fuel efficiency for sustainable resource utilization, a growing focus on developing light towers powered by solar radiation for silent and environmentally friendly operations, a concentration on product innovation, and the introduction of light towers equipped with monitoring sensors to enhance the overall equipment effectiveness (OEE) in production lines.
Which Drivers Are Accelerating Growth In The Light Towers Market?
The surge in infrastructure activities is playing a significant role in propelling the light tower market. Light towers, generally employed at mining and accident sites, construction zones, rescue situations, and more, are invaluable assets for infrastructure construction projects such as railways, highways, sewers, power lines and other undertakings at night in remote locations where adequate lighting is limited and good illumination is crucial. Light towers enhance the safety and productivity of workers on construction sites. For example, the UK government, via Project Gigabit as reported by the Department for Science, Innovation and Technology in April 2023, is committing £5 billion ($5.39 billion) to widen gigabit broadband reach to a minimum of 85% of premises by 2025 and over 99% by 2030. Furthermore, a £1 billion ($1.07 billion) pact with mobile network operators is set to increase 4G coverage to cover 95% of the UK's land area by 2025. The potential uptake of 5G could bolster productivity by £159 billion by 2035. As a result, rising infrastructure activities stimulate the expansion of the light tower market.
What Are The Principal Market Segments In The Global Light Towers Healthcare Industry?
The light towers market covered in this report is segmented –
1) By Product: Stationery, Mobile
2) By Fuel Type: Solar or Hybrid, Diesel, Direct Power
3) By Technology: Manual Lifting, Hydraulic Lifting
4) By Lighting: Metal Halide, LED, Electric
5) By End-User: Oil & Gas, Mining, Construction, Events & Sports, Other End Users
Subsegments:
1) By Stationery: Diesel-Powered Stationery Light Towers, Solar-Powered Stationery Light Towers, Hybrid Stationery Light Towers, Electric-Powered Stationery Light Towers
2) By Mobile: Diesel-Powered Mobile Light Towers, Solar-Powered Mobile Light Towers, Hybrid Mobile Light Towers, Electric-Powered Mobile Light Towers
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Which Emerging Market Trends Are Altering The Light Towers
The trend of innovating new products is the main course of action being pursued by corporations in the light tower market. This can be attributed to the existence of a multitude of manufacturers producing light towers and their expansion into new markets to become a dominant force. For example, in January 2024, a U.S.-based generator of backup power products named Generac launched the GLT Series of light towers. The innovative series is designed for enhanced performance and energy conservation, making it an excellent choice for various uses, from construction sites to special events. This product exemplifies Generac's commitment to inventive thinking and sustainability, integrating cutting-edge technology to meet the changing requirements of contemporary lighting solutions. This initiative forms part of a larger plan by Generac to position itself at the forefront of the portable power and lighting industry.
Who Are the Key Players in the Light Towers Market?
Major companies operating in the light towers market include:
• Atlas Copco
• Generac Holdings Inc
• Wacker Neuson Group
• Terex Corporation
• JLG Industries Inc
• Doosan Portable Power
• The Will-Burt Company
• INMESOL S.L.U
• Olikara Lighting Towers Pvt
• United Rentals Inc
• Eneraque
• Larson Electronics
• Trime UK
• Wanco Inc
• Milspec Generac Mobile
• PR Power
• Robuster Lighting
• Briteforce
• Southern Cross Industrial Group
• JLG Lighting Towers
• Rishabh Engineering Company
• Red Mobile Light Tower Generators
• Lighttec India Ref Mobile Light By Ajanta Export Industries
• Diamond Member
• Audited Supplier Fujian
• Fire Truck Mounted Mobile Telescopic Mast Lighting
What are the Regional Insights into the Light Towers Market?
North America and Asia-Pacific were the largest regions in the light tower market in 2024. During the forecast period, Asia-Pacific is expected to be the fastest-growing region. The regions covered in the light towers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
