Tower Light Market Scope
Tower lights are used as a source of lighting during underground mining work and construction activities. It has a high-intensity electric lamp that is attached to mast components and the mast is attached to the light tower trailer. Various industries are adopting light towers for power generation applications which generate demand for light towers and revenue opportunities for companies. Technological advancement towards the development of higher energy generation equipment owing to the rise in demand from the construction and mining industry further propelling the market growth.
According to AMA, the Global Tower Light market is expected to see growth rate of 7.42%
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Tower Light market throughout the predicted period.
Allmand Brothers, Inc. (United States), Mainline Group (Ireland), The Will-Burt Company (United States), Xylem, Inc. (United States), Generac Holding, Inc. (United States), Terex Corporation (United States), Doosan Corporation (South Korea), Atlas Copco (Sweden) and Wacker Neuson (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Coates Hire (Australia), Perennial Technologies Pvt., Ltd. (India), HIMOINSA (Spain) and TRIME S.p.a. (Italy).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Tower Light market and Region with country level break-up.
On the basis of geography, the market of Tower Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
16th April 2019, TRIME S.p.a. Trime launched a new electric-powered motion lighting tower with two AGM batteries for major facilities such as airports and large construction sites.
Market Trend
- Increasing Demand of Higher Energy Generation Equipment from Construction and Mining Industry
- Rising Demand for Solar Powered Tower Lights
Market Drivers
- Growing Construction Industry
- Increasing Demand from the Mining Industry
Opportunities
- Rising Investments in the Oil & Gas Industry
- Increasing Demand from the Developing Economies
Restraints
- High Cost Associated With Solar Tower Lights
- High Maintenance Cost and Battery Problems of Tower Lights
Challenges
- Lack of Awareness in the Emerging Economies
Key Target Audience
Tower Light Manufacturing Companies, Raw Material Suppliers, Tower Light Component Manufacturers, Government and Research Organizations, National and Local Government Organizations, Institutional Investors, Associations and Others