Light Tower Market Set to Surge Significantly During 2030

Posted on 2021-06-01 by Future Market Insights, Inc in Industrial // 0 Comments

In recent years, increasing popularity of solar light towers in North America and Europe has been significantly influencing the growth of the light tower market. Since 2017, oil prices have recovered to above US$ 70 per barrel from the previous low of US$ 40 per barrel, and have shown signs of steady improvement. This, coupled with major production cuts from OPEC countries, has made the oil & gas industry an under-supplied market, creating even more demand for oil production. With increasing investments in the oil & gas industry, demand for light towers is set to rise over the coming years.

Installation of solar light towers and surge in the number of end-use industry platforms are opening up new avenues for the light tower market. According to a new Fact.MR study, the light tower market is poised to expand at a value CAGR of nearly 5% and account for revenue worth US$ 2 Bn by 2030-end.

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Light Tower Market Competitive Analysis: Key Players to Focus on Geographical Expansion & Collaboration with Regional Authorities

Collaboration of key players with regional authorities for the development of infrastructure and lighting systems is set to remain as the main strategy for regional as well as global players. Furthermore, focus on the expansion of business through increasing sales offices and distribution centers to enhance presence across new and potential geographic clusters will be beneficial. Key manufacturers are observed to be involved in material optimization, manufacturing technological automation, and productivity enhancement. For instance, Wacker Neuson SE and MHE-Demag entered into an agreement to pursue growth opportunities in Southeast Asia.

COVID-19 Impact on Light Tower Market

The spread of the coronavirus has crippled the entire world. Nearly all countries have imposed lockdowns and strict social distancing measures. This has resulted in disruptions of the supply chain. Instructions to follow social distancing has resulted in shutting of construction activity, resulting in descending demand for light towers. This factor has impacted the demand for light towers significantly, with growth set to gradually pick pace post pandemic.

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Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

The Report Covers Exhaustive Analysis On:

Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

The global Light Tower Market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.

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Some important questions that the Light Tower Market report tries to answer exhaustively are:

Key strategic moves by various players in the Light Tower Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
Which strategies will enable top players in the Light Tower Market to expand their geographic footprints
Which new business models are expected to change the course of growth of key regional markets in near future
Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
Which products segments have in recent years have seen new, lucrative application areas

Benefits of Fact.MR Study

Fact.MR has gradually established itself as one of the leading market research companies across the globe. Our unique, methodical, and up-to-date approach towards creating high-quality market reports ensures the reports include relevant market insights. Further, our team of analysts leaves no stone unturned while curating market reports in accord with the requirement of our clients.

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