Mobile Light Tower Market

Mobile Light Tower Market Size (2024-2029):

The Global Mobile Light Tower Market is anticipated to reach a valuation of USD 8.27 billion by 2029, registering a CAGR of 7.24% during the forecast period 2024 and 2029.

Market Overview:

Mobile Light towers are towable equipment with one or more high-power electric lamps with telescopic pole mounting. The mast can be fixed or adjustable in its operations, which is attached to a trailer that consists of a generator set to power the light panels. The lamps used in light towers are usually made of metal halide and the generator set is powered by a diesel engine. Light towers are very useful in road works and other applications, especially where fuel economy and mobility prevail. Light towers are primarily used for remote outdoor operations or locations that are difficult to connect to the main electrical grid, making them a vital source of lighting during construction activities. The positive outlook for the global construction industry is increasing the demand for mobile light towers.

Market Drivers:

The need for lighting in remote operations involving construction activities (both remote and general) and operations related to the oil and gas or mining industries, as well as emergencies and rescue, makes mobile light towers a vital piece of equipment in these industries. The studied market is driven by innovations focused on providing emission-free lighting, which is monitored by strict government regulations on worker safety. In recent times, there has been a great demand for solar-powered light towers to illuminate very remote villages. Also, the positive outlook for the mining and construction industries is also expected to increase market growth during the forecast period. The increasing emphasis on the implementation of safety standards, measures, and regulations in the construction industry, which around the world frequently sees the use of state-of-the-art construction equipment and methods. Technology has led to major changes in the way key operations are performed. Mainly at night or on gloomy days, the use of light towers, tall, often mobile structures, fitted with electric anti-glare lights, is a standard around the world.

Mobile light towers are very useful in road works and other applications, especially where fuel economy and mobility prevail. These towers play a significant role in many industries including entertainment, mining, oil and gas, construction, demolition, etc. They are also used in many emergency and rescue operations due to their ease of transport and mobility characteristics. Today, the light towers are equipped with solar panels with an optional fuel generator. The growing demand for increased power generation is leading to an acceleration of operations in the oil and gas industry, which in turn is expected to drive demand for light towers in the coming years.

Market Restraints:

Although mobile light towers pay off in places inaccessible for lighting, the growth of the market is not without limitations, including required maintenance, battery problems, and an incompetent supply chain.

MOBILE LIGHT TOWER MARKET REPORT COVERAGE:

Market Segmentation:

Mobile Light Tower Market - By Market Type:

The market is segmented into

• Sales
• Rentals

Of these, the rental segment is expected to grow at a higher CAGR during the foreseen period due to increasing demand for mobile light tower rentals in North America and the Asia Pacific. Furthermore, the demand of the rental market increases for short-term use as it requires low capital investment.

Mobile Light Tower Market - By Light Type:

The market is segmented into

• Metal Halides
• LEDs

Of these, the LED segment is said to post a higher CAGR over the outlook period, attributed to growing demand from mining and oil and gas end-users, which are the main income-generating industries for light towers. Compared with metal halide lamps, the LED light tower increases energy efficiency and reduces total electricity consumption, which would enhance the market growth.

Mobile Light Tower Market - By Fuel Type:

The market is segmented into

• Diesel
• Hybrid
• Direct

Of these, the diesel fuel type segment would register a higher CAGR during the forecast period as light towers are gradually operated in remote off-grid areas where access to grid electricity is non-existent. Additionally, diesel is widely available and cost-effective compared to other fuel sources, which is catalyzing diesel usage in the global mobile light tower market.

Market Regional Analysis:

North America is expected to account for the largest market share, due to the presence of strong end-user industries deploying light towers. During the projection period, Canada is expected to drive growth in the segment, due to increased mining and construction activity in the country. The Canadian oil and gas industry is a lucrative market for light towers, along with the aerospace industry. Increasing demand and increased construction activity in the Canadian oil and gas industry are expected to boost market growth. These trends are supported by activities like Inter Pipeline's approval of the construction of a $ 3.5 billion petrochemical facility, the Heartland Petrochemical Complex, which is expected to be operational by the end of 2021. This project was fined approximately $ 200 million in royalty credits.

Impact of COVID-19 on the Mobile Light Tower Market:

The spread of the coronavirus has paralyzed the entire world. Almost all countries have imposed blockades and strict social distancing measures. This has caused disruptions in the supply chain. Directions to follow social distancing have shut down construction activities, leading to a drop in demand for mobile light towers. This factor had a significant impact on the demand for these towers, and growth is expected to gradually accelerate after the slowdown of this pandemic.

Market Key Players:

The major players in the global mobile light tower market are

1. Generac Holding (US)
2. Terex Corporation (US)
3. Doosan Portable Power (US)
4. Wacker Neuson (Germany)
5. Atlas Copco (Sweden)
6. United Rental (US)

Market Recent Developments:

• January 2021: JCB broadcasted that its North American dealer network is expanding with the addition of Weaver JCB, which is a subsidiary of Weaver Ag & Lawn Equipment that will take care of sales and services of new and used JCB equipment in a few locations.