Global light tower market is estimated to grow at a modest CAGR of around 4.6% and create a value opportunity of US$828.6 Mn during the forecast period of 2019 to 2029.
Rockville, United States – December 2, 2019 —
The light tower market at the global level is experiencing steady demand, primarily triggered by the construction sector. According to this recently published Fact.MR report, lighting requirements for outdoor construction sites are supporting increased adoption of light towers, thereby, enabling workers to perform their tasks till late evenings without any significant hindrance. It has been thoroughly examined that construction will continue to function as a winning segment delivering stable growth trajectory during the forecast period (2019-2029), presenting an incremental opportunity of US$ 210 Mn. In order to access additional information about the actual scenario prevailing in the global light tower market, readers can fittingly access this report study titled “Light Tower Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029”.
The purpose of this assessment is to enlighten readers and stakeholders about the changing market trends and opportunities set to influence the global light tower market during 2019-2029. This report carefully compiles vital market factors such as executive summary and market background comprising market dynamics, macro-economic factor, value chain analysis and a lot more. Interestingly, the availability of pragmatic data associated to future forecast is also mentioned in the report, thereby, delivering knowledge about Y-o-Y growth trend analysis and absolute $ opportunity.
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Greater Demand for LED Lights Favored by Improved Fuel Efficiency and Enhanced Illumination
Currently, several end users are showing greater inclination for LED lights in order to fulfil the objective to offer greater light coverage. This preference has grown significant and thereby surpassed the demand for metal halide lights. Another supporting reason for the popularity of LED lights among contractors is associated to their excellent service life and immediate switch on/switch off abilities.
In addition, LED lights are also regarded as highly coveted on the back of their outstanding fuel efficiency, almost twice as that of metal halide lights, making them proficient of operating twice as long on the same quantity of fuel. As a result of above mentioned factors, LED light is highly prospective of delivering impressive value opportunity of US$604Mn during the stated forecast period.
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Portable Light Towers Display Heightened Demand Backed by Increasing Construction Activities
Although the liking of fixed light towers remain unchanged, implementation of portable light towers is experiencing a consistent rise across diverse construction sites. Looking at this swelling demand for portable light towers, it is very evident that competition among leading manufacturers might step up, especially linked to the delivery handiest products at reasonable rates. On the other hand, construction will continue its status of being the winning segment managing steady growth course during the forecast period; this segment is likely to offer a cumulative opportunity of US$ 210Mn.
Asia Pacific to Propagate Advanced Prospects for Green Energy Initiatives
Looking at the regional market expanse, Asia Pacific is set to experience rapid growth in the construction sector, which is associated to boost the light towers market. This Fact.MR report details that, nations like China and India are heavily investing in developing transport infrastructure with a purpose to support economic growth. Grippingly, due to escalating environmental concerns, the demand for renewable energy powered (solar) light towers in Asia Pacific is intensifying and is projected to offer lucrative opportunities in the near future.
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This news is published on Reuters.