The light tower market is slated to witness mounting growth at a 5% CAGR during the assessment period, 2020-2030. Increasing investments in the oil & gas sector are likely to boost demand for the light tower market in the approaching years.
Dubai, UAE -- (SBWIRE) -- 11/30/2020 -- The light tower market is slated to witness mounting growth at a 5% CAGR during the assessment period, 2020-2030. Increasing investments in the oil & gas sector are likely to boost demand for the light tower market in the approaching years.
"Progressing construction sector and rising number of infrastructure projects by the regional government are poised to facilitate plentiful growth prospects for manufacturers in the light tower market." says the Fact.MR
report.
Light Tower Market - Key Takeaways
In terms of power source, the diesel category will remain dominant in the global market by holding over 50% of market share by 2030 end.
Based on end-use, the construction industry will gain traction in the global market, recording a 3.4% CAGR throughout 2020-2030
Based on the lamp, the LED category will reflect impressive growth in the light tower market during 2020-2030.
North America will remain at the forefront progressing at a 5% CAGR over the assessment period.
Request a report sample to gain comprehensive market insights at@
https://www.factmr.com/connectus/sample?flag=S&rep_id=2477
Light Tower Market - Driving Factors
The growing popularity of solar equipped light towers are gaining traction in the global market as it necessitates a one-time set-up cost and is eco-friendly.
A growing number of processing plants and oil inventories will boost the demand for light towers in the approaching years.
With the on-going energy transition, the developing world plays a prominent role as the chief market for energy consumption aiding market growth.
Better infrastructure development to support several activities such as energy generation, transportation, and many others, the market will experience soaring demand.
Light Tower Market - Constraints
Necessary maintenance and battery problems challenge the light tower market growth.
Incompetent supply chain slowdowns the growth pace and hurts future growth prospects.
Anticipated Market Impact by COVID-19 Outbreak
The light tower market growth has been impacted due to the COVID-19 outbreak that has stultified the entire world. Strict social distancing norms, nationwide lockdowns have resulted in supply chain disruption and shutdown of construction activity, thus plunging the demand for light towers.
Explore the Light Tower market comprising of 118 figures and 81 data tables, along with the table of contents. You can find a detailed market segmentation on @ https://www.factmr.com/report/2477/light-towers-market
Competition Landscape
Major companies identified in the light tower market are United Rental, Atlas Copco, Wacker Neuson, Doosan Portable Power, Terex Corporation, and Generac Holding.
More on the Report
The FACT.MR's market research report provides in-depth insights into the Light Tower market. The market is scrutinized based on lamp (halides and LEDs), power source (battery, diesel, and solar), and end-use industry (construction, mining, oil & gas, and commercial & other), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
Explore Wide-ranging Coverage of FACT.MR's Industrial Goods Landscape
Construction Equipment Market: Find insights on the construction equipment market with analysis of segments, statistics, influencers, market players, and business strategies adopted over a 10-year forecast period.
Industrial Battery Chargers Market: FACT.MR's report on the industrial battery chargers market offers insights on the market during 2020-2030, including restraints, revenue sources, market leaders, and market strategies.
Fuel Storage Container Market: Read an analysis of the fuel storage container market with insights on growth factors, opportunities, restraints, regional market forecast, regulatory policies, and strengths of market leaders.
About Fact.MR
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, and has offices in Dubai. FACT.MR's latest market research reports industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
Contact:
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
PR- https://www.factmr.com/media-release/1647/light-towers-market-trends