Light Tower Sales Set to Recover in 2021 on Back of Optimistic Macroeconomic Factors: Study
Light towers sales witnesses a set-back due to Covid-19, but expected to increase post covid.
NEW YORK, March 1, 2021 /PRNewswire/ -- Recovery of construction sector will be key to future sales of light towers in 2021 and beyond, opine latest edition of the report by global consulting firm Fact.MR. The report opines tat light tower sales were in ascendancy before COVID-19 owing to broader sustainability initiatives, and long-term outlook remains bullish. The latest edition of the Fact.MR study covers light tower sales in 20+ high-growth markets, offering readers a nuanced perspective on how growth will unfold.
Supply-chain disruptions during COVID-19 diminished the sales of light towers but an uptick in macro factors is likely to steer the market in positive direction. The Fact.MR report studies the impact of Covid-19 and analyzes the change and trends in light towers demand post pandemic.
Significant presence of the key manufacturers remains concentrated in North-America owing to the growth of construction and mining industries. However, ascending constriction industries in China, India and Japan to evolve the market demand in Asia-Pacific in the forecast period.
"Demand for light towers to escalate due to the mounting popularity for the solar-based light towers in North-America, Europe and emerging new markets in Asia-Pacific," says a Fact.MR analyst.
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Key Takeaways
- Solar equipped light towers still remains the preferred product for light tower market.
- Atlas Copco, a leading manufacturer focusing on developing low fuel consumption light towers.
- Construction sector set to have a speedy recovery post pandemic.
- Light towers sales witnesses a set-back due to Covid-19, but expected to increase post covid.
- Public construction sector to mature in 2021 and beyond.
- Diesel-based light towers is contemplated to flourish in the forecast period.
- New projects in power transmissions and infrastructure to remain the key focus for widening the scope of light towers market.
- North-America to be the most lucrative region backed by expansion of construction and mining industries.
Competitive Landscape
Prominent manufacturers operating for light tower include Wacker Neuson SE, Terex Corporation, Atlas Copco AB, Allightsykes Pvt. Ltd., Generac Holdings Inc., Doosan Infracore Co. Ltd., Multiquip Inc., The Will-Burt Company, Allmand Brothers Inc., and Westquip Diesel Sales Ltd., among others. Focus on expansion of business through increasing sales offices and collaboration of key manufacturers are the major strategies for the development.
Recently, in April 2019, a major manufacturing company, Doosan, expanded its distribution network by establishing a new branch in Nevada, United States. They have expanded their services in offering products like air compressors, generators, and light towers.
Likewise, in April 2019, the Wacker Neuson Group has moved their focus in expanding their core products sales and expanded their business with the Husqvarna Group.
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More Valuable Insights on Light tower Market
Fact.MR, in its new offering, presents a detailed analysis of the global light tower market. The study divulges essential insights on the light tower market on the basis of lamp (halides and LED's), power source (battery, diesel, and solar), end-use industry (construction, mining, oil & gas, commercial and others), and across major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Questions Covered in the Report
- What is likely to be the future outlook of the light tower market?
- Which regulations will be most helpful for the key players to boost the revenue for their companies?
- Which regulations will be most helpful for stakeholders to boost their demand-supply chain?
- What are best optimization strategies for the key players to achieve the success in the forecast period?
- Which key market players currently operate in the global light tower landscape?
- What is the impact of Covid-19 on light tower market?
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