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Light Towers Market
Rising Demand for Mobile Lighting Solutions Drives Growth in Light Towers Market, States Fact
ROCKVILLE, MD, UNITED STATES, December 12, 2024 /EINPresswire / -- According to Fact, a
market research and competitive intelligence provider, the global light towers market is estimated to reach a valuation of US$ 1,710.6 million in 2024 and is expected to grow at a CAGR of 5.0% during the forecast period of (2024 to 2034).
The global light towers market is witnessing vigorous growth due to the expanding infrastructure, construction and oil & gas industries. These sectors need portable high-performance lighting solutions for safety and operational efficiency in remote and off-grid locations. Furthermore, market development is induced by the increasing adoption of solar-powered and energy-efficient light towers as industries focus on sustainability and cost-effectiveness.
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Key Takeaways from Market Study:
The global light towers market is projected to grow at 0% CAGR and reach US$ 2,786.3 million by 2034
The market created an opportunity of US$ 383.6 million growing at a CAGR of 2% between 2019 to 2024
North America is a prominent region that is estimated to hold a market share of 1% in 2034
Predominating market players include Atlas Copco, and Terex Corporation
Construction type of end use segment is estimated to grow at a CAGR of 4% creating an absolute $ opportunity of US$ 317.8 million between 2024 and 2034
North America and East Asia are expected to create an absolute $ opportunity of US$ 684.4 million collectively.
“Light towers are becoming indispensable across multiple sectors as industries prioritize mobility, energy efficiency, and sustainability to address evolving operational needs in remote and off-grid environments” says a Fact analyst.
Leading Players Driving Innovation in the Light Towers Market:
Allight Pty Ltd; Allmand Brothers Inc.; Atlas Copco; Generac Holdings Inc.; Inmesol Gensets, S.L.; Multiquip Inc.; Terex Corporation; The Will-Burt Company; Wacker Neuson; Westquip Diesel Sales Ltd.; Other Prominent Players.
Market Development:
The global Light Towers market is witnessing robust growth as industries continue to expand infrastructure projects, particularly in construction, oil & gas, and mining sectors. With increasing reliance on portable lighting solutions, manufacturers are setting measurable goals aimed at expanding production capacity, increasing market share, and launching innovative, sustainable products to meet demand. The surge in renewable energy solutions such as solar-powered light towers reflects this strategy, aligning with global sustainability goals.
Several key players are focusing on expansion to address the ever-growing market demand. For instance, JSC NPO Stekloplastik recently announced plans to increase its production capacity in light towers by 25,000 tons annually to meet the soaring demand. This expansion follows the company's current production of 12,000 tons, demonstrating a strong commitment to market growth and scalability.
In line with industry developments, Generac Mobile launched new high-performance light tower models in 2023, featuring advanced energy-efficient technologies and longer runtimes. This move underscores the company's focus on innovation to meet evolving customer needs for eco-friendly lighting solutions, especially in construction and emergency sectors.
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Light Towers Market News:
Atlas Copco continues to innovate by introducing cutting-edge LED technology into its light towers. The company has been aiming to minimise carbon footprints, improve energy efficiency, and extend the life of its mobile light towers. This initiative positions Atlas Copco as a leader in environmentally friendly light tower solutions and aligns with global sustainability goals. Compared to traditional halogen models, LED light towers offer a longer operating life and consume less energy.
Generac recently launched new hybrid light towers to its line of goods. These types can be powered by traditional diesel engines as well as other energy sources such as solar electricity. This innovation demonstrates Generac's commitment to satisfying the growing need for ecologically sustainable solutions in the oil and gas, event, and construction industries.
More Valuable Insights on Offer:
Fact, in its new offering, presents an unbiased analysis of the global Light Towers market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the light type (Halide, LED), fuel type (Battery, Diesel, Solar, Hybrid), end use (Construction, Mining, Oil & Gas, Commercial & Others) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Check out More Related Studies Published by Fact Research:
LED light bar requires lower current draw and provides the user with ~90% greater efficiency as compared to its counterpart's halogen or incandescent light bars. In addition, LED light bars are used in several applications like, automotive, restaurants, construction, and commercial sector to name a few.
The global lighting fixture market size is expected to reach US$ 56,115.2 million by 2034 from US$ 40,180.2 million in 2024, with a growing CAGR of 3.4% from 2024 to 2034.
About Us:
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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