Posted On: 2019-11-22
Construction sector accounted for the largest share in the Europe light Tower market– 6Wresearch
The light Tower market in Europe is expected to witness exponential growth over the coming years on account of increasing technology awareness and technology adoption by European government. Increasing necessity for road safety, personal safety and urban ambience, leads to the widespread application of light Tower in the country. The emergence of light Tower in Europe makes the lighting network more efficient as it allows more control, real-time data and improved security, which acts as the key drivers for the growth of Europe light tower market.
According to 6Wresearch, Europe Light Tower Market is expected to grow at a CAGR of 3.1% during 2019-25. Germany is a leading country, in terms of revenues, owing to tremendous rise in the construction sector. The initiatives taken by the European government such as Construction 2020, aims to construct around 1.5 million housing units, which would lead to increased demand for light Tower. Additionally, rising tourism in Europe is supporting the growth of the residential sector, along with the construction of housing units. This would accelerate the demand for light Tower in the country.
According to Gurbani Kaur, Senior Research Analyst, Research and Consulting, 6Wresearch, “The LED light Tower are the highest revenue generating segment owing to incentives and rebates offered by government for replacing the traditional lamps with LED products, which would promote the growth of LED light Tower in Europe. The increasing trend of smart cities is gaining popularity in Europe, aiming to reduce the power demand and overall consumption of energy and this trend is expected to increase the market demand for LED light Tower.”
According to Akansha Chopra, Research Associate, Research and Consulting, 6Wresearch, “Solar light Tower would acquire a major market share, in the Europe light tower market, over the coming years due to several benefits associated with them such as long battery backup, easy installation and maintenance, renewable and greener source of energy, reduced electricity bill, reduced fossil fuel consumption, eliminates pollution and light on/off controlled by automatic daylight sensing.”
"Europe Light Tower Market (2019-2025)” report provides an in-depth analysis with 46 figures covered in over 50 pages. The report estimates and forecast the overall Europe light tower market by light types, fuel types and end-users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.