ASEAN Light Tower Market Share to Reveal Momentous Growth by 2026

Published Date: 2020-09-07

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According to the Graphical Research new growth forecast report titled “ASEAN Light Tower Market By Product (Stationary, Mobile), 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 (Vietnam, Malaysia, Philippines, Indonesia), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Reveal Momentous Growth by 2026.

ASEAN Light Tower Market Value will undergo rapid growth on account of the increasing investment toward infrastructure overhaul and the simultaneous construction along with the requirement of round the clock operations. Government initiatives and policies focused on environmental sustainability coupled with rising emphasis on limiting GHG emissions will stimulate the market growth. Increasing need for refurbishment and modernization of old infrastructure will further encourage the business scenario.

LED light towers will register high growth rate owing to the rising environmental concern across the globe along with the growing need to adopt low emission and sustainable technologies.  Easy maintenance, low fuel consumption, high performance in harsh weather conditions and extended lifespan are some of the essential factors positively impacting the product adoption. High cost may act as a restraint, however, stringency in energy efficiency mandates will drive the industry growth.

Hydraulic light tower market is set to grow on account of the increasing rate of automation coupled with ongoing innovation resulting in higher efficiency rate. Technological superiority of the product when compared to the manual light towers along with strict safety directives will further propel the product adoption.

Indonesia will witness significant growth owing to the rising demand for continuous power supply from remote areas along with growing focus toward safety on jobsites. Government authorities are focusing on prioritizing infrastructure development through systematic increase in investments with USD 430 Billion planned to be invested during 2020-2024. Additionally, various application across industries coupled with the ever-expanding customer base is anticipated strengthen the business scenario.

Major market participants are increasingly engaging in vertical integration to reduce cost and invest in establishing a logistical and distribution channel. Manufacturers are targeting the development of rental offerings to stay on top on the demand trends. Some of the major manufacturers in the market are Terex, Atlas Copco, Larson Electronics, Aska equipment, Will Burt and Generac among others.