TMCnet News
Light tower Market to Reach $5.9 Billion, Globally, by 2032 at 5.2% CAGR: Allied Market ResearchThe growth of the global Light tower market is majorly driven by the increasing construction industry, growing emphasis on sustainability and the adoption of renewable energy sources, and high demand for solar light towers. PORTLAND, Ore., Aug. 21, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Light Tower Market By Type (LED light tower and Metal halide light tower), By Fuel Type (Diesel powered, Solar powered, and Directly powered), By End-use Industry (Oil and gas, Mining, Construction, and Others), By Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the light towers market was valued at $3.6 billion in 2022 and is estimated to reach $5.9 billion by 2032, exhibiting a CAGR of 5.2% from 2023 to 2032. 
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7725 Prime determinants of growth The growth of the global Light tower market is majorly driven by the increasing construction industry, growing emphasis on sustainability and the adoption of renewable energy sources, and high demand for solar light towers. However, the high initial cost of light towers restricts the market growth to some extent. Nevertheless, a rise in the use of light towers in the oil and gas industry is estimated to provide remunerative growth opportunities in the upcoming years. Report coverage & details:
The diesel-powered segment maintained its lead position during the forecast period. Based on type, the diesel-powered segment accounted for the largest share in 2022, contributing to more than half of the global Light tower market revenue and is estimated to rule the roost throughout the forecast timeframe. This is due to diesel fuel offering a high energy density, allowing diesel-powered light towers to operate for extended periods without refueling. This feature is especially beneficial for applications that require continuous lighting over long durations, such as construction sites, outdoor events, or emergency situations. However, the solar-powered segment is anticipated to grow at the highest CAGR of 5.7% during the forecast period. Procure Complete Report (261 Pages PDF with Insights, Charts, Tables, and Figures) @ The construction segment maintained its lead position during the forecast period. On the basis of the end-use industry, the construction segment dominated the largest market share in 2022 contributing to nearly two-fifths of the global Light tower market revenue and is projected to maintain its dominance during the forecast period. With construction projects taking place around the clock, there is a growing demand for reliable and efficient lighting solutions, including light towers. However, the oil and gas segment is anticipated to grow at the highest CAGR of 5.6% during the forecast period. North America to maintain its dominance by 2032 Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global Light tower market and is estimated to rule the roost throughout the forecast timeframe. This is due to the highly developed electronic sector in U.S. and continuous investments done in the region through the years to advance the electronic sector. However, the Asia-Pacific region is anticipated to grow at the highest CAGR of 5.7% during the forecast period. For Purchase Inquiry: https://www.alliedmarketresearch.com/light-towers-market/purchase-options Leading Market Players: -
The report provides a detailed analysis of these key players in the global Light tower market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. Trending Reports in Light Industry (Book Now with 10% Discount): Mobile Light Tower Market: Global Analysis and Industry Forecast, 2021-2031 Solar Lights Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Solar Landscape Lighting Market: Global Analysis and Industry Forecast, 2023-2032 Work Lights Market: Global Analysis and Industry Forecast, 2023-2032 About us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact us: David Correa Logo: https://mma.prnewswire.com/media/636519/3950895/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research 
|
View original content: