APAC Mobile Light Tower Market to Amass Brimming Revenues by 2026

Published Date: 2020-07-14

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According to the Graphical Research new growth forecast report titled “Asia Pacific Mobile Light Tower Market By Lighting (Metal Halide, LED, Electric), By Power Source (Diesel, Solar, Direct), By Technology (Manual Lifting, Hydraulic Lifting), By Application (Construction, Infrastructure Development {Highway Construction, Railway Line Construction, Bridge Construction}, Oil & Gas, Mining, Military & Defense, Emergency & Disaster Relief), Industry Analysis Report, Country outlook (China, Japan, India, South Korea, Australia, Vietnam), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Amass Brimming Revenues by 2026.

Asia Pacific Mobile Light Tower Market Growth will witness significant growth owing to the favorable government initiatives targeted toward the development of smart cities coupled with the rising number of infrastructure projects. Construction activities at nighttime have a higher degree of correlation with worker accidents. Therefore, rising worker safety concerns in the development sector to avoid fatal injuries will significantly strengthen the market outlook.

The impact of the COVID-19 pandemic has been felt across the globe. Although major construction and infrastructure projects have come to a complete halt, coming out of the second quarter, the industry is projected to make great strides toward stability. The recovering Oil & Gas and the mining industry are further set to propel the market demand.

LED is set to register high growth rate on account of introduction of stringent government norms & directives with the aim to reduce GHG emissions. Low cost associated with the product along with the extended life span, low consumption rate of the fuel and high performance even in severe weather conditions are some of the factors that will contribute toward the market growth. Additionally, research and development activities are leading to innovation in the product design which will complement the product demand.

China will undergo significant growth on account of major construction and infrastructure projects currently being underway. Development of manufacturing and logistical infrastructure to support the country’s major exports will provide lucrative opportunities for the manufacturers. Increasing injuries on the jobsite along with gradually changing government norms pertaining to labor safety will further simulate the product adoption.

Diesel will growth owing to its high flexibility and scalability coupled with reliable performance and extended life span. Development of hybrid technologies and manufacturers increasing investments toward improving the product portfolio will further augment the business landscape. Declining product cost and ease of fuel availability are few other key factors driving the product demand.

Key players in the Asia Pacific Mobile Light Tower Market are currently engaging in vertical integration in order to reduce cost and invest in establishing a distribution and logistical channel. Major industry participants aim to develop their rental offerings to tap the demand will enable manufacturers to increase their revenue. Some of the major players in the market are Will Burt, Generac, Larson Electronics, Doosan, Light Boy, Aska equipment, Terex, and Atlas Copco among others.