The light
tower market is expected to grow from an estimated USD 2.02 Billion in 2017
to USD 2.72 Billion by 2022, at a CAGR of 6.1% from 2017 to 2022. This growth
is mainly attributed to a rapid growth of the construction industry, especially
in developing nations of the Asia-Pacific region, growing investment in the oil
& gas sector, and restart of investment in the mining industry.
The light tower sales
market is segmented, based on end-user into construction, mining, oil & gas,
and others, which includes agriculture, airports, emergency services, military,
rentals, social & sports events, and motion pictures. Construction end-user
is expected to grow at the highest rate in the end-user segment. A rapid growth
in the construction sector, especially in the Asia-Pacific region is expected
to drive the light tower market. Countries such as China and India are
investing heavily in developing transport infrastructure to support growth of
their economies, and are expected to drive the construction end-user segment
during the forecast period.
The diesel-powered
light towers segment is expected to hold the largest share of the light tower
market, by fuel type, during the forecast period
The diesel-powered light tower segment led the light
tower market in 2016 and is expected to grow at a decent pace during the
forecast period. High reliability of diesel generator sets, easy availability
of fuel, high storage capacity, longer running time, and simple maintenance
have helped the diesel-powered light towers to grow worldwide. This segment is
primarily driven by increasing demand in the construction industry in developing
nations and is expected to create new revenue pockets for the light tower sales
market during the forecast period.
Asia-Pacific expected to dominate the light tower market
In this report, the light tower market has been analyzed
with respect to five regions, namely, North America, Europe, Asia-Pacific,
South America, and the Middle East & Africa. The Asia-Pacific is expected
to dominate the global light tower market, due to growth of the construction
and mining sector in China, India, and Australia. Asia-Pacific is the largest
market by size and is estimated to grow at the highest rate due to rapid growth
in the construction industry, especially in China. A high investment in the
construction sector in China has created a demand for portable light towers.
Asia-Pasic is home to many developing nations such as India, Indonesia, Taiwan,
and Malaysia. All these nations are focusing on developing their infrastructure
which in turn is expected to drive the demand for light tower in the
Asia-Pacific region.
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The market is dominated by few international players
which holds major share of the light
tower market. Major suppliers for light towers include Generac Holding,
Inc. (U.S.), Atlas Copco (Sweden), Doosan Corporation (South Korea), Terex
Corporation (U.S.), and Wacker Neuson (Germany).
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