Light Tower Market to Reach $2.72 Billion by 2022

 Siddhant Dongare
  4th-Jul-2019
 81

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% from 2017 to 2022. This growth is mainly attributed to a rapid growth of the construction industry, especially in developing nations of the Asia-Pacific region, growing investment in the oil & gas sector, and restart of investment in the mining industry.

The light tower sales market is segmented, based on end-user into construction, mining, oil & gas, and others, which includes agriculture, airports, emergency services, military, rentals, social & sports events, and motion pictures. Construction end-user is expected to grow at the highest rate in the end-user segment. A rapid growth in the construction sector, especially in the Asia-Pacific region is expected to drive the light tower market. Countries such as China and India are investing heavily in developing transport infrastructure to support growth of their economies, and are expected to drive the construction end-user segment during the forecast period.

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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.

Asia-Pacific expected to dominate the light tower market

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. Asia-Pacific is the largest market by size and is estimated to grow at the highest rate due to rapid growth in the construction industry, especially in China. A high investment in the construction sector in China has created a demand for portable light towers. Asia-Pasic is home to many developing nations such as India, Indonesia, Taiwan, and Malaysia. All these nations are focusing on developing their infrastructure which in turn is expected to drive the demand for light tower in the Asia-Pacific region.

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The market is dominated by few international players which holds major share of the light tower market. Major suppliers for light towers include Generac Holding, Inc. (U.S.), Atlas Copco (Sweden), Doosan Corporation (South Korea), Terex Corporation (U.S.), and Wacker Neuson (Germany).

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Domain: Energy
Category: Environmental
Posted By: Siddhant Dongare and Contact Siddhant Dongare

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