Light Tower Market Size 2022 Technology Innovations and Demand Analysis By 2027
The tremendously expanding construction and industrial sectors, coupled with the growing need to facilitate continuous operations, has instigated the use of light towers. They help in operating the sites regardless of time and weather adversities. Light towers’ higher efficiency, portability, reliability, and easy installation are some of the prime factors accelerating their adoption further. The burgeoning product demand across mining, oil & gas, infrastructure, and construction verticals is providing lucrative growth prospects for light tower market. The industry dynamics are being further influenced by the ongoing government initiatives to upgrade the transport infrastructure along with the proliferating retail, tourism, and manufacturing sectors.
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According to the latest report by Global Market Insights, Inc., light tower market size is projected to surpass USD 6 billion by 2027, taking the following trends into account:
Introduction to innovative products
Rapid digitization and the emergence of innovative technologies like solar and hybrid LED light towers, to mitigate GHG emissions across construction and building facilities are strengthening the industry outlook. Various prominent companies are incorporating such solutions to their portfolio to effectively serve the consumer demand. To illustrate, in 2021, Atlas Copco Power and Flow introduced HiLight S2+, it’s novel solar-powered LED light tower that allows users to minimize CO2 emissions by about 6 tons as compared to the traditional technologies.
Growing popularity of electric light tower
The establishment of stringent regulatory norms for addressing critical needs while minimizing the emission levels has led to the modernization and refurbishment of the existing industrial structures. These activities have created immense demand for electric light towers on account of the introduction of minimum efficiency regulations and global agreements to combat CO2 emissions. They are being increasingly deployed across remote locations including construction activities, mining operations, and rescue parameters.
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Increasing adoption of diesel-powered light towers
The heightened adoption of diesel-powered light towers can be majorly ascribed to the advantages associated with them such as easy installation, low maintenance, and lesser upfront costs. The increasing frequency of critical accidents and mishaps, especially during night construction, has instigated the adoption of reliable units. The increased accessibility to a variety of tough and resistant diesel-powered light towers with high-quality specifications is favoring their adoption to a great extent.
Mounting demand for hydraulic units
Hydraulic units are becoming immensely popular in the industry with the growing inclination towards automated technologies and easy-to-use systems. These systems can be raised or lowered with the integration of touch and tap technology which, in turn, reduces the downtime and increases productivity by enabling safe, simple, and speedy operation. In addition, hydraulic masts that are used in rental projects and serve as an effective solution in critical construction establishments are opening lucrative opportunities for the industry.
Infrastructure development in the UK
The UK stands tall as a prominent avenue for light tower market on account of the enhanced economic conditions and increasing infrastructure development activities in the country. In 2020, the country had accounted for a sizeable share of over 14% of the global light tower market. There has been a significant development in energy and transport infrastructure as well as housing projects in the UK. In addition, investments in the refurbishment and development of railways and various other infrastructure projects have also been increasing in the country. Besides these factors, the growing emphasis on energy efficiency and stringent regulatory scenario for environmental safety is positively influencing the business space.
In a nutshell, light tower industry is observing a strong growth with the growing environmental concerns coupled with the increasing construction activities across the globe.
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