The market research report, entitled Light Towers Market shows good possibilities in the Light Towers Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges, and key players in the market.

Global Light Towers Market Forecast:

The light towers market was estimated at USD 4.5 billion in 2021 and is likely to grow at a CAGR of 5.75% during 2022-2028 to reach USD 6.67 billion in 2028.

The major factor driving the growth of the market is the increasing investment towards light towers operation in end-use industries such as construction, oil gas, mining, and events sports.

What is a light tower?

Light Tower is a permanent or stationary source of flood flight, which is ideal for use in a wide array of industries. The light towers can be categorized based on light type into metal halide and LED. These towers are powered by diesel, solar/hybrid, and direct power. They are widely used in industries such as oil gas, mining, construction, events sports, and others.

Light Towers Market Segmentation:

The report segments based on demographics, geographics, benefits, and volume, etc, have different driving factors and identify the most-attractive segments and sub-segments. Light Towers Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.

Based on the market type, the market is segmented as sales and rental. The rental segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period. Strong demand from North America and Asia-Pacific along with the need for lower capital investment is the major factor driving the rental segment.

Based on the light type, the light towers market is segmented as metal halide and LED. The metal halide segment dominated the market in 2021, owing to increased demand from oil gas and mining industries. On the other hand, the LED segment is expected to witness higher growth, during the forecast period, owing to the increasing demand for energy-efficient lighting systems.

Based on the fuel type, the market is segmented as diesel, solar/hybrid, and direct power. The diesel segment held the largest share of the market in 2021, owing to the fact that these light towers are operated in remote off-grid locations where access to grid power is non-existent. Further, diesel fuel is comparatively more economical than other fuel sources.

In terms of regions, North America is estimated to be the largest market during the forecast period. Strong investment towards infrastructure development and increasing oil gas activities are the major factors driving the North American market. Asia-Pacific is expected to be the fastest-growing market, with China, Singapore, South Korea, Japan, and India being the major countries with lucrative growth opportunities.

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