Light Tower Market Growth, Competitive Analysis, Future Prospects and Forecast 2026
According to the Global Market Insights, Inc., forecast, global light tower market will experience an annual installation of more than 790 thousand units by 2026.
Delaware, United States – August 12, 2021 /MarketersMedia/ —
The growth of the light tower market worldwide would be driven by the flourishing construction sector across the globe, along with the rising demand for deploying robust solutions at building sites. As per the Office for National Statistics estimations, construction output in Great Britain rose to nearly 24.9% in the three months to October 2020, as compared with the previous three-month term.
The substantial growth is majorly attributed to the recommencement of business operations post the lockdown imposed due to the outbreak of the COVID-19 virus.
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Light towers are mostly used for the provision of adequate lighting facilities at construction sites and in other fields such as mining, emergency services, demolition, oil refining, agriculture sectors, motion picture production, and sports. High efficiency, easy installation, and reliability are some key aspects of the product that will positively impact business progression in the forthcoming years.
According to the Global Market Insights, Inc., forecast, global light tower market will experience an annual installation of more than 790 thousand units by 2026. Elaborated below are some key aspects of the product propelling its installations at construction sites.
Rising demand for light towers powered by diesel systems
Easy installation, low upfront cost, and minimum maintenance are some key benefits that will augment demand for diesel systems. Rising occurrences of critical accidents at construction sites specifically during the night have substantially arise a demand for robust light towers.
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The availability of a wide array of robust and resistant mobile light towers lashed with high-quality specifications will complement business growth in the coming years. These lamps offer distinct features and benefits as per the suitability for respective jobsites.
Preference for electric light towers
The presence of stringent government norms to spread awareness about the importance of carbon footprint reduction and promote environmental sustainability would augment the mass installation of electric and solar-powered light towers. Additionally, strict regulations pertaining to modernization and refurbishment of existing industrial infrastructure is likely to accelerate product demand in the coming years.
There is a rising need to deploy efficient lighting solutions at remote locations, construction sites, rescue procedures, emergency services, mining, and several other establishments. Additionally, the initiation of minimum energy performance standards and global pacts to curb carbon emissions would encourage product adoption to a large extent.
Extensive infrastructure development in the UK
UK light tower industry is projected to expand at over 7% CAGR through 2026. Flouring national economy, along with surging ventures in energy & housing projects and transport infrastructure would complement the regional industry outlook.
Extensive investments toward the renovation and development of railways and other advancements in construction and infrastructure are likely to boost product adoption. The existence of strict regulation towards environmental protection driving emphasis on energy efficiency will propel business expansion in the region.
The escalating demand for hybrid equipment including backpack diesel gensets with rechargeable battery pack will impact light tower market trends. The introduction of numerous government initiatives to enhance the transport infrastructure, along with evolving manufacturing, retail, and tourism sectors would boost the use of solar-based equipment. Increasing digitalization in-line with the advent of numerous techniques to reduce GHG emissions in the construction and building facilities would positively influence LED light tower deployment.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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