FELTON, California, October 31, 2018
FELTON, California, October 31, 2018 /PRNewswire/ --
The Global Light Tower Market is estimated to grow at a CAGR of 3.8% over the forecast period as the scope and its applications are rising enormously across the globe. A tall structure fitted with electric lights, typically used for outdoor brilliance is known as light tower. The light tower is an exclusive product designed to deliver efficient, reliable, and practical lighting solutions for industry, military, law implementation, the emergency services and a variety of other users.
Light tower is a strong, dependable and rapidly deployable unit that has been tried and tested globally under the toughest conditions and consistently delivered flawless performance. Light tower is a simple yet reliable lighting unit, consisting of an adjustable tube of semitransparent light diffusing material and generator unit. The light tower can be powered by its own fuel-efficient 4-stroke generator or may connect to mains power (240volt/50Hz).
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Light Tower Market is segmented based on fuel type, light type, end user, and region. Direct-Powered, Diesel-powered, and Solar-Powered are the fuel types that could be explored in Light Tower in the forecast period. The Diesel-powered sector accounted for the substantial market share of Light Tower and is estimated to lead the overall market in the coming years. This may be because of low maintenance, easy accessibility of fuel, high consistency of diesel generator sets, and high storage capacity.
LED, Electrodeless Lamps, and metal halide are the light type that could be explored in Light Tower in the forecast period. The LED sector accounted for the substantial market share of Light Tower and is estimated to grow at highest CAGR in the coming years. This may be because of government initiative by providing subsidies for solar panels and rising use of solar panels may reduce carbon footprint.
The market may be categorized based on end users like mining, construction, oil & gas, and others that could be explored in the forecast period. The construction sector accounted for the substantial market share of Light Tower and is estimated to lead the overall market in the coming years. This may be because of rising demand for portable light towers, growing construction industry in developing countries, and rising investment in the construction sector from kay manufacturers.
Globally, Asia Pacific accounted for the substantial market share of Light Tower and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be developing construction industry and high investment in construction sector by manufacturers in the developing countries. The developing countries like India and China are the major consumers of Light Tower in this region. North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. The key players of Light Tower Market are Wacker Neuson, Generac Holding, Inc., Atlas Copco, Terex Corporation, and Doosan Corporation. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
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