The report “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 expected to grow from an estimated USD 2.02 Billion in 2017 to USD 2.72 Billion by 2022, at a CAGR of 6.1%. The market is set to witness growth due to rapid growth of the construction industry, growing investment in the oil & gas sector, and restart of investment in the mining industry.
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Browse 71 market data tables and 42 figures spread through 157 pages and in-depth TOC on “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”
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The diesel-powered light towers segment is expected to hold the largest share of the light tower market, by fuel type, during the forecast period
The diesel-powered light tower segment led the light tower market in 2016 and is expected to grow at a decent pace during the forecast period. High reliability of diesel generator sets, easy availability of fuel, high storage capacity, longer running time, and simple maintenance have helped the diesel-powered light towers to grow worldwide. This segment is primarily driven by increasing demand in the construction industry in developing nations and is expected to create new revenue pockets for the light tower sales market during the forecast period.
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Construction end-user to be the largest segment in the light tower market
With regards to the end-user segment, the construction end-user segment in the light tower market is expected to be the largest market in 2017. Developing nations around the world are investing heavily in transport infrastructure to support their growth, along with rapid urbanization, driving the growth of the construction industry, which in turn is driving the light tower market in the construction end-user segment.
LED segment is estimated to be the fastest growing segment in the light tower market during the forecast period
The LED light tower segment is expected to grow at the highest CAGR during the forecast period. Increasing implementation of solar panels to reduce carbon footprint, government regulations, and subsidies for solar panels & LED lighting are the main drivers for high growth of the LED light tower market.
Asia-Pacific: The leading market for light towers
In this report, the light tower market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The Asia-Pacific is expected to dominate the global light tower market, due to growth of the construction and mining sector in China, India, and Australia.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the light tower market. These suppliers include Generac Holding, Inc. (U.S.), Terex Corporation (U.S.), Doosan Corporation (South Korea), Atlas Copco (Sweden), and Wacker Neuson (Germany). Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share
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