Portland, OR, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global mobile light tower market was estimated at $1.9 billion in 2021 and is expected to hit $3.1 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimates, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.9 Billion |
| Market Size in 2031 | $3.1 Billion |
| CAGR | 5.2% |
| no of Pages in Report | 331 |
| Segments Covered | Power Source, Lighting Type, Technology, Application, and Region. |
| Drivers | Rise in investment for light towers in various industries such as events & sports, mining, oil & gas, and construction |
| Opportunities | Increase in infrastructural investment |
Covid-19 scenario
- The ease of availability of diesel in most of the developed and developing countries is one of the most important factors for the development of diesel power source mobile light tower products. Decrease in construction activities and distorted infrastructural development impacted the global mobile light tower market negatively, especially during the initial period.
- Nevertheless, as the global situation got back on track, the market for mobile light towers also started restoring at a slow & steady pace.
The global mobile light tower market is analyzed across power source, lighting type, technology, application, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise strategies based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on power source, the diesel segment contributed to more than half of the global mobile light tower market revenue in 2021, and is expected to dominate by 2031. The others segment, on the other hand, would showcase the fastest CAGR of 6.3% throughout the forecast period.
Based on lighting type, the metal halide segment contributed to nearly three-fourths of the total market revenue in 2021, and is expected to dominate by 2031. The LED segment, simultaneously, would cite the fastest CAGR of 5.7% throughout the forecast period.
Based on technology, the manual segment held nearly two-thirds of the total market revenue in 2021, and is expected to dominate by 2031. The hydraulic segment, however, would cite the fastest CAGR of 5.4% throughout the forecast period.
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Based on region, the market across North America generated more than two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, however, would showcase the fastest CAGR of 5.8% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global mobile light tower market report include Terex Corporation, Generac Power Systems Inc., Wacker Neuson Group, Larson Electronics LLC, Doosan Portable Power, Colorado Standby, Westquip Diesel Sales, The Will-Burt Company, Youngman Richardson & Co. Ltd, Atlas Copco AB, Inmesol Gensets SL, JC Bamford Excavators Ltd, Xylem Inc., Wanco Inc., and BMI Group. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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