Light Tower Market is poised to expand at a value CAGR of nearly 5% and account for revenue worth US$ 2 Bn by 2030 from Margo Trobbie's blog
Light Tower Market to Expand 1.6X by 2030; Reduced
Construction Activities during COVID-19 Pandemic Impeding Market Growth
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.
For more insights
into the Market, Request a Sample of this Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=2477
Key Takeaways from Global
Light Tower Market Study
·
LED-based light towers are estimated to account
for 52% share of total market revenue in 2020, and gain 730 BPS in their market
share by 2030 over 2020.
·
Solar-powered light towers continue to influence
the growth strategies of market players, which are expected to contribute
revenue worth US$ 410 Mn in 2020 and US$ 700 Mn by 2030, progressing at a CAGR
of 5.5% during the forecast period.
·
The North America light tower market is
projected to hold a prominent share of the global market value, and is expected
to continue its dominance during the forecast period.
·
The light tower market in China is projected to
resister the highest growth rate in terms of value during the forecast period.
However, the Europe light tower market is slated to experience the slowest
growth rate.
·
The COVID-19 pandemic has resulted in decreased
construction activity around the world, which is affecting the demand for light
towers.
“Advancing construction industry and increasing number of
infrastructure projects by regional government will facilitate numerous growth
opportunities for players in the global light tower market,” says a Fact.MR
analyst.
Need more information
about Report Methodology? Ask here @ https://www.factmr.com/connectus/sample?flag=RM&rep_id=2477
Acquisition of
Regional Players - Prime Strategy Key Players
Key players in the light tower market are focusing on the
acquisition of regional players to establish their global presence and ensure
quality of aftersales services provided to customers. For instance, in 2017,
Generac Holding Inc. announced the acquisition of Selmec Equipos Industriales,
S.A. de C.V., and its subsidiaries Enesa Energia, S.A. de C.V. and Enesa, S.A.
de C.V.
Contact Information
Fact.MR
US Sales Office:
11140 Rockville Pike, Suite 400 Rockville, MD
20852
United States
Phone: +1 (628) 251-1583
More View: https://www.prnob.com/release/show/light-tower-market-is/44559
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