Recent data from Fact.MR states that the market for Solar Powered Light Towers gained a market revenue of around US$ 1.2 Bn in 2020. Increase in the use of renewable energy resources for the functioning of Solar Powered Light Towers and the efficiency of Solar Powered Light Towers at different sights is expected to boost market revenue. The Solar Powered Light Towers sale is expected to surpass a CAGR of 5% in the forecast period.
According to Fact.MR, a market research and business intelligence provider, over the last five years, the market revenue for Solar Powered Light Towers gained a market revenue of around US$ 1.2 Bn in 2020, expanding at around 4% CAGR.
Download Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=2477
How are Solar Light Towers Propelling Growth?
The global light tower market is set to witness mounting growth in the coming years, as a result of increasing popularity of solar-equipped light towers. These towers require a one-time set-up cost and are environmentally friendly. Furthermore, the increasing number of oil inventories and processing plants will drive demand for light towers in the years to come.
As most developing and developed economies are focusing on the development of better infrastructure to support numerous activities such as transportation, energy generation, the market for light towers is expected to experience soaring demand.
Key Takeaways from the Market Study
- Global market for light towers to add 1.6x the value by 2031 compared to 2021
- By lamp, LED based light towers to yield revenue worth 52% of the global market through 2031
- By power source, solar powered light towers is poised to expand at a CAGR of 4.7%
- Diesel powered light towers to hold a dominant market share, capturing more than half of the total market
- By end use industry, construction to generate opportunity worth US$ 195 Mn by 2031
- The U.S is expected to register a CAGR of 5% in the forecast period, creating an absolute opportunity worth US$ 190 Mn.
- China is expected to surpass a CAGR of 8% in the forecast period.
Competitive Landscape
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 centres 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, in 2018, Wacker Neuson SE and MHE-Demag entered into an agreement to pursue growth opportunities in Southeast Asia.
- Likewise, in August 2021, Generac Power Systems announced the expansion of its corporate operations into the Village of Pewaukee with the purchase of a new building. The new site will serve as the company Customer Contact Centre and help cater to queries regarding light tower products
Key Companies Profiled:
- United Rental
- Generac Holding
- Wacker Neuson
- Doosan Portable Power
- Terex Corporation
- Atlas Copco
Key Segments Covered
- Lamp
- Halides
- LEDs
- Power Source
- Battery Powered
- Diesel Powered
- Solar Powered
- End Use Industry
- Construction
- Mining
- Oil & Gas
- Commercial & Other End Use Industries
Key Questions Covered in the Solar Powered Light Towers Market Report
- What is the projected value of the Solar Powered Light Towers factors Industry in 2021?
- At what rate will the global Solar Powered Light Towers factors market size grow until 2031?
- Which are the factors hampering the growth of Solar Powered Light Towers factors?
- Which region is expected to lead in the global Solar Powered Light Towers factors market By 2031?
- Which are the factors driving the Solar Powered Light Towers factors Industry during the forecast period?
- What is the expected market value of the Solar Powered Light Towers factors market during the forecast period?
Regional Analysis For Solar Powered Light Towers Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
For More Insights of Fact.MR Trending Report:-
https://www.newswire.co.kr/newsRead.php?no=946848
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com