What is Solar Light Tower Market?
Growing demand for alternative energy and ease of installation are the key factors driving the growth of the solar light tower market. Solar lights are portable light fixtures composed of LED lamps, photovoltaic solar panels and rechargeable batteries. Solar light towers are mobile equipment that has one or more high-intensity electric lamps, solar panels and rechargeable batteries mounted wheeled vehicles of a portable light tower. These solar light towers are used in locations such as outdoor remote areas or rural areas where electric access from the main power grid is difficult. They help to illuminate roads, airports and many other areas. They can be used in residential areas without disturbing the public. In these towers, batteries provide power and an automated solar-based charging system keeps the batteries charged.
The market study is being classified by Type (Sales and Rental), by Application (Road and Bridge Construction, Emergency and Disaster Relief, Oil and Gas Work, Mining and Others) and major geographies with country level break-up.
Generac Power Systems (United States), Atlas Copco (Sweden), Terex Corporation (United States), Wacker Neuson (Germany), Allmand Inc. (United States), Doosan Portable Power (United States), Yanmar Co., Ltd. (Japan), Multiquip Inc. (United States), JCB (United States) and Ocean's King Lighting (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are PRAMAC (Italy) and Wanco Inc. (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Solar Light Tower market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Solar Light Tower market by Type, Application and Region.
On the basis of geography, the market of Solar Light Tower 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Popularity of the Solar Light Towers
- Increasing Demand for Renewable Energy Storage Equipment
- Expansions of the Industrial Areas
- Ease of Use and Portable Design
Market Trend
- High Demand for Portable Light Towers
Restraints
- High Initial Cost for Solar Light Towers
Opportunities
- Growing Demand for Electricity
- Technological Advancements in the Solar Light Equipment
- Government Initiatives for Promoting Renewable Energy
Challenges
- Less Energy Production in Cloudy Days
- Less Awareness in Some Regions
Market Leaders and some development strategies
In April 2019, Generac Holdings Inc., a global leader in the design and manufacture of a wide range of residential, commercial and industrial power products, announced that the company has acquired Pika Energy, Inc., a manufacturer of innovative battery storage technologies that capture and store solar or grid power for homeowners and businesses. and In September 2019, Yanmar Group has announced the completion of its acquisition of compact equipment manufacturer ASV Holdings Inc., a designer and manufacturer of renowned compact tracked loaders and skid-steer loaders.
Key Target Audience
Solar Light Tower Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user