Light Towers Global Market Exhibit a Remarkable CAGR of 5.0% and is expected to reach $6.51 Billion By 2028

Overview and Scope
Light towers are mobile equipment consisting of high-intensity electric lamps and masts, along with a trailer attached to it with a generator setup at the back to power the bulbs when insufficient artificial or natural light is present. In light towers, power is usually generated from diesel, solar energy, batteries, or hybrid methods to illuminate bulbs. Light towers are used in construction, infrastructure development, the oil and gas industry, mining, the military and defense, as well as in emergency and disaster relief.

Sizing and Forecast
The light towers market size has grown strongly in recent years. It will grow from $5.07 billion in 2023 to $5.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%.  The growth in the historic period can be attributed to rapid industrialization, strong economic growth in emerging markets, rise in disposable income, growth in the construction sector.

The light towers market size is expected to see steady growth in the next few years. It will grow to $6.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.  The growth in the forecast period can be attributed to rising urbanization, increasing investment for light towers operation, increasing investment in infrastructure development project, and increase in oil and gas production and exploration activities. Major trends in the forecast period include focusing on fuel saving for the sustainable use of resources and to increase their global customer base, increasingly focusing on developing light towers using solar radiation as an energy source, providing silent and cleaner operations, focusing on product innovation to stay in the competitive market, with plenty of opportunities, focusing on light towers with voice annunciator to expand in the market, focusing on launch of light towers with monitoring sensor to improve overall equipment effectiveness (oee) on the production line.

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Segmentation & Regional Insights
The light towers market covered in this report is segmented –
1) By Product: Stationery, Mobile
2) By Fuel Type: Solar or Hybrid, Diesel, Direct Power
3) By Technology: Manual Lifting, Hydraulic Lifting
4) By Lighting: Metal Halide, LED, Electric
5) By End-User: Oil & Gas, Mining, Construction, Events & Sports, Other End Users

North America and Asia-Pacific were the largest regions in the light tower market in 2023. During the forecast period, Asia-Pacific is expected to be the fastest-growing region. The regions covered in the light towers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increased infrastructure activities are significantly contributing to the growth of the light tower market. Light towers are usually used on mining sites, accident sites, construction sites, rescue solutions, and others. Light towers are very useful equipment on infrastructure construction sites such as railways, highways, or roadways, sewers, power lines, and other infrastructure projects during night operations in remote places where insufficient light is present and good illumination is required. Light towers on construction sites increase the safety of workers and productivity. For instance, in June 2021, according to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to the US Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2 percent. Therefore, the increasing infrastructure activities drive the growth of the light tower market.

Key Industry Players
Major companies operating in the light towers market report are Atlas Copco, Generac Holdings Inc, Wacker Neuson Group, Terex Corporation, JLG Industries Inc, Doosan Portable Power, The Will-Burt Company, INMESOL S.L.U, Olikara Lighting Towers Pvt, United Rentals Inc, Eneraque, Larson Electronics, Trime UK, Wanco Inc, Milspec Generac Mobile, PR Power, Robuster Lighting, Briteforce, Southern Cross Industrial Group, JLG Lighting Towers, Rishabh Engineering Company, Red Mobile Light Tower Generators, Lighttec India Ref Mobile Light By Ajanta Export Industries, Diamond Member, Audited Supplier Fujian, Fire Truck Mounted Mobile Telescopic Mast Lighting, Leonardo, Thales Group, CILAS, MBDA, Kalashnikov Group, Almaz-Antey, United Aircraft Corporation, Tactical Missiles Corporation, Uralvagonzavod, Applied Technology Associates, Alma Lasers Ltd, Laser Ammo, Sarine Technologies Ltd, Meprolight, STI Laser Industries, NeoLaser, Zmed Laser, ARIEL Photonics Assembly, LaserOp, LASER FZCO, Matrix Laser, Trotec laser, Digi Matrix Technologies.

The light towers market report table of contents includes:
1. Executive Summary

2. Light Towers Market Characteristics

3. Light Towers Product

4. Light Towers Market Trends And Strategies

5. Light Towers Market - Macro Economic Scenario

.....

68. Global Light Towers Market Competitive Benchmarking

69. Global Light Towers Market Competitive Dashboard

70. Key Mergers And Acquisitions In The Light Towers Market

71. Light Towers Market Future Outlook and Potential Analysis

72. Appendix

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