The global light tower market is anticipated to grow at a considerable CAGR of 7% during the forecast period (2022-2028). One of the key factors that is fueling the market gowth is the growing competitiveness between the market players towards fulfilling the growing market needs. With several key players in the market, companies are advancing, innovating, and launching new products to stay in the competition. For instance:
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- In April 2022, SPX Corporation announced the acquisition of International Tower Lighting, LLC, a private sector company headquartered in La Vergne, Tennessee. ITL is a company that specializes and construction of highly designed Aids-to-Navigation (AtoN) systems, such as obstacle illumination for telecommunications towers, wind turbines, and a variety of other structures. ITL also provides customer monitoring and assistance.
- In September 2021, Atlas Copco has introduced the HiLight V5+ LED Light Tower, which can save up to 65 percent on gasoline. When compared to the normal fuel usage of a 6kW Metal Halide solution, the newly launched HiLight V5+ has a 2-cylinder engine and offers significant fuel savings of up to 65 percent, giving it an industry-leading competitive advantage.
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- In September 2021, Trime S.R.L., an Italian light tower manufacturer, collaborated with Tecnogen Spa, a global generator manufacturer based in Italy, to purchase FTG Equipment Solutions for an undisclosed sum. Trime S.R.L. hopes to target the American light equipment business with this acquisition, enhance production through a distribution strategy, and expand its light tower product line for diverse infrastructure projects. FTG Equipment Solutions is a generator and light tower distribution firm established in the United States.
- In February 2021, Generac Power Systems announced to open a manufacturing, assembly, and distribution operation in South arolina, US, to expand its production capacity and respond to increases in demand for its power backup solutions.
- In February 2021, In India, Chicago Pneumatic, a subsidiary of Atlas Copco, has introduced two new Permanent Magnet motor compressor models, the CPMV and CPVS. The devices, which use proven permanent magnet motor energy-saving technology, provide greater dependability, maintenance-free operation, and energy savings of up to 45 percent.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Type
o By Power source
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Atlas Copco AB, Terex Corporation, Generac Power Systems Inc., Larson Electronics LLC, Doosan portable Power, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Light Tower Market Report Segment
By Type
- LED Light Tower
- Metal Halid Light Tower
By Power Source
- Solar Powered
- Diesel Powered
- Hydrogen Fuel Powered
- Directly Powered
By End-User
- Construction
- Oil & Gas
- Mining
- Industrial
- Others Industries
