Global light tower market revenue is set to cross US$ 4 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rising investment in construction sector along with the increasing requirement to operate these sites regardless of weather and time will stimulate the product adoption. Moreover, efficiency, reliability and easy installation are some of the prime factors positively impacting the business landscape.
According to the study, low up-front cost, easy installation and minimal maintenance are some of the prime factors positively impacting the demand for diesel systems. Moreover, rising frequency of critical accidents specifically during night construction has encouraged the demand for reliable light towers. Accessibility to a wide range of tough and resistant mobile light towers with high quality specifications will complement the industry landscape. Different lamp technologies offer distinct benefits and considerations for contractors as per the suitability for their respective jobsites. “Light tower market value to hit $4 bn by 2026” Light tower market is expected to secure more than 7.6% CAGR from 2020 to 2026, says Global Market Insights, Inc.
Electric units will grow owing to introduction of stringent government mandates to promote environment sustainability and address critical need to reduce emissions. In addition, refurbishment and modernisation of existing industrial buildings and structures on account of strict mandates is set to stimulate the product demand. Rising need for lighting in remote locations that involve construction activities, operations related to the O&G or mining industries, and emergency or rescue procedures is set to strengthen the industry landscape. Furthermore, Global Market Insights said, the introduction of minimum efficiency norms and global agreements to combat emissions will continue to positively impact the product adoption.
Some major findings of the light tower market report include:
• The industry demand for light tower is surging across infrastructure, mining, O&G, construction industries as a source of lighting.
• Increasing investments across construction activities is anticipated to drive the business growth.
• Major players operating across the light tower industry are Generac, Atlas Copco, Wacker Neuson and Doosan.
• Solar based and hybrid lighting towers are witnessing a significant increase in demand owing to strict government mandates pertaining to jobsite safety.