HOME Research Insight Generac Holding, Inc. (U.S.) and Atlas Copco (Sweden) are the Leading Players in the Light Tower Market

Generac Holding, Inc. (U.S.) and Atlas Copco (Sweden) are the Leading Players in the Light Tower Market

The global light tower sales market is projected to grow at a CAGR of 6.1% from 2017 to 2022. Asia-Pacific is estimated to be the largest market for light towers, followed by North America. This trend is expected to continue during the forecast period. The growth of light towers is driven by a rapid growth of the construction industry, growing investment in the oil & gas sector, and restart of investment in the mining industry.

The light tower market is dominated by few global players. The key players operating in the market include Generac Holding, Inc. (U.S.), Atlas Copco (Sweden), Doosan Corporation (South Korea), Terex Corporation (U.S.), and Wacker Neuson (Germany).

The major growth strategy adopted by key players in the light towers market include new product launches and expansions. New product launches was the most commonly used strategy from 2014 to 2017. The industry players also adopted the strategy of expansion, which was the second most widely followed strategy from 2014 to 2017.

Generac Holding, Inc. (U.S.) is a leading player in the light tower market. The company mainly operates in two business segments, namely, residential products and commercial & industrial products. The company   designs, manufactures, and sells light tower under the commercial and industrial products segment. Majority of operations are in North America, however, the company sells product in Asia-Pacific, the Middle East, African, and European region through network of dealers, distributors, retailers, wholesalers, and equipment rental companies. Generac’s two subsidiaries, Magnum and Tower Light Srl, provides light tower for various end-user industries such as construction, oil & gas, and other industrial end-users. The company mainly provides portable light towers with generator sets. The company has adopted the acquisition to strengthen its product portfolio and widen its regional reach.  In February 2016, Generac acquired majority of share in PR Industrial. PR industrial owns Pramac brand, which manufactures and distribute portable generators, lighting equipment, and water pump.

Atlas Copco (Sweden) is one of the leading players in the light tower market. The company operates in five business segments, namely, compressor technique, vacuum technique, industrial technique, mining & excavation technique, and construction technique. Atlas Copco provides light tower for sells as well as for rental under the construction technique business segment. The company provides a wide range of light towers with LED and metal halide option. Atlas Copco’s light tower comes with solar power option and the company also provides light tower with portable diesel generator set. Chicago Pneumatic, a subsidiary of Atlas Copco, also provides wide range of light towers for construction, mining, sporting event, and emergency application.

Atlas Copco adopted the strategy of new product launches to strengthen its product portfolio. In January 2017, Atlas Copco launched HiLight E3+ light tower first time in the U.S. at international trade show, CONEXPO 2017. HiLight E3+ comes with LED lights.

Related Reports:

Light Tower Market by Light Type (Metal Halide, LED), End-User (Construction, Oil & Gas, Mining), Fuel Type (Diesel, Solar, Direct), and Region - Global Forecast to 2022

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