Light Towers Global Market Report 2024

Light towers are portable equipment comprising high-intensity electric lamps and masts, typically affixed to a trailer with a generator setup at the rear to power the bulbs in conditions of insufficient artificial or natural light. In the realm of light towers, power is commonly generated through diesel, solar energy, batteries, or hybrid methods to illuminate the bulbs. These towers find applications in construction, infrastructure development, the oil and gas industry, mining, military and defense operations, as well as in emergency and disaster relief scenarios.

The primary categories of light towers include stationary and mobile variants. Stationary light towers are affixed or mounted structures on a specific base, oriented either horizontally or vertically, equipped with high electric lamps of varying mast sizes, making them suitable for fixed-position use. These light towers employ different lighting technologies, including metal halide, LED, and electricity. They can feature either manual lighting technology or hydraulic lighting technology. Light towers come in various fuel types, including solar/hybrid, diesel, and direct power. End users of light towers encompass industries such as oil and gas, mining, construction, events and sports, among others.

The light towers research report is one of a series of new reports from The Business Research Company that provides light tower statistics, including light towers industry global market size, regional shares, competitors with light tower share, detailed light towers segments, market trends and opportunities, and any further data you may need to thrive in the light towers industry. This light towers research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 expansion witnessed in the historical period can be attributed to rapid industrialization, robust economic growth in emerging markets, an increase in disposable income, and 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 anticipated growth in the forecast period can be attributed to escalating urbanization, a rise in investment for light towers operation, increased funding for infrastructure development projects, and an uptick in oil and gas production and exploration activities. Key trends expected in the forecast period involve a heightened focus on fuel efficiency for sustainable resource utilization and expanding the global customer base, an increased emphasis on developing light towers utilizing solar radiation as an energy source for silent and cleaner operations, a concentration on product innovation to maintain competitiveness in the market, and numerous opportunities for introducing light towers with voice annunciators and monitoring sensors to enhance overall equipment effectiveness (OEE) on the production line.

The growth of the light tower market is significantly driven by the upsurge in infrastructure activities. Light towers find widespread use on various sites such as mining, construction, accidents, rescue operations, and more. Particularly crucial on infrastructure construction sites operating during night hours or in remote locations with inadequate lighting, light towers enhance safety for workers and boost productivity. For instance, in June 2021, Stats NZ Tatauranga Aotearoa reported a 3.7 percent increase in building activities in March 2021 in New Zealand, while residential activities rose by 4.3 percent compared to 2020. Moreover, the US Census Bureau highlighted a growth rate of 10.2 percent, with construction activities' value increasing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Thus, the escalating infrastructure activities contribute significantly to the expansion of the light tower market.

The growing demand for light towers is further fueled by the increase in oil and gas production and exploration activities. Light towers play a crucial role in enhancing visibility, reducing shadows, and preventing accidents at oil and gas sites. For example, India plans to double the area dedicated to oil and gas exploration and production to 0.5 million square kilometers by 2025 and 1 million square kilometers by 2030. Similarly, Africa has intensified upstream activities to amplify oil and gas production. This surge in production and exploration activities is poised to drive the demand for light towers, contributing to market growth in the forecast period.

A key trend in the light tower market is the emphasis on new product development by companies in the industry. With numerous manufacturing companies in the light tower sector, there is a strategic focus on innovation to expand market leadership. For instance, in 2021, Generac Power Systems, Inc., an American-based manufacturer of backup power generation products, introduced the Generac's V20 PRO tower. This all-in-one mobile lighting tower operates on different fuelling systems such as diesel, battery, hybrid, external power, and solar energy within a single machine. The product offers versatility with various external sources for charging battery packs, including a solar panel kit, a generator, and mains power supply.

Companies in the light tower market are also aligning their strategies with sustainability goals by emphasizing fuel-saving features in their products. Given the depletion of nonrenewable fuel sources, there is a concerted effort to optimize resource utilization. In September 2021, Atlas Copco, a Swedish multinational industrial company, launched the HiLight V5+ LED Light tower, providing fuel savings of up to 65% compared to traditional fuel consumption. This is especially beneficial for challenging site conditions in construction, outdoor events, infrastructure projects, mining, and temporary public lighting installations.

In September 2021, Trime S.R.L., an Italy-based light tower manufacturer, entered a strategic partnership with Tecnogen Spa, a multinational generator manufacturing company based in Italy. Additionally, Trime S.R.L. acquired FTG Equipment Solutions, a distribution company in the United States specializing in generators and light towers. Through this acquisition, Trime S.R.L. aims to target the American light equipment industry, enhance production through a distribution strategy, and fortify its product portfolio for various infrastructure projects.

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.

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.

The countries covered in the light towers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The light tower market consists of sales of audibles, ballasts, beacon accessories, beacons, flashlights and work lights. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Light Towers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on light towers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for light towers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The light towers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Atlas Copco; Generac Holdings Inc; Wacker Neuson Group; Terex Corporation; JLG Industries Inc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.