The global light tower rental market is projected to reach a valuation of US$ 751.9 million in 2024, with a projected CAGR of 3.6% during the forecast period of 2024 to 2034, according to Fact.MR, a market research and competitive intelligence provider. This growth is attributed to the rising demand for temporary lighting solutions across a wide range of industries.
Temporary lighting solutions play a crucial role in various sectors, offering flexibility, cost-effectiveness, and enhanced safety. These solutions are particularly vital in industries like construction, entertainment, and emergency response.
The construction industry relies heavily on temporary lighting during low-light conditions to ensure safety and productivity while working on roads, bridges, and buildings. The preference for renting equipment over purchasing expensive equipment for short-term needs further fuels the rental market.
In the entertainment sector, temporary lighting is essential for outdoor events, concerts, and festivals, enhancing visibility and creating an engaging atmosphere. The flexibility of rental options allows event organizers to scale their lighting solutions according to the specific needs of each event, contributing to the growth of the rental market.
For instance, in July 2024, Knightscope secured a contract to provide 8 K1 Blue Light Towers to a college in Nevada. These towers, equipped with solar panels, mass notification speakers, and faceplate cameras, are designed to enhance campus safety. The client has also opted for a full-service maintenance plan and the Knightscope Emergency Management System (KEMS) software.
The global light tower rental market is projected to grow at a 6% CAGR and reach US$ 1,070.9 million by 2034. North America is a prominent region, expected to hold a market share of 9% in 2034. Key players in the market include Aggreko, Alexander Equipment Rental, Inc., American Rentals, Atlas Copco, BigRentz, Caterpillar, Durante Rentals, Generac, Herc Rental, Larson Electronics, Loxam group, Sunbelt Rentals, Terex Corporation, United Rentals, and Wacker Neuson.
The Events & Entertainment sector under the Industry segment is expected to grow at a CAGR of 6%, creating an absolute $ opportunity of US$ 62.9 million between 2024 and 2034. North America and East Asia are anticipated to collectively create an absolute $ opportunity of US$ 135.9 million.
The adoption of sustainable solutions like solar light towers is further driving the market. Leading players in the industry are actively focusing on expansion activities, technological advancement, product innovations, strategic partnerships and collaborations, and regulatory compliances to gain a significant share in the industry.
For instance, in June 2023, Atlas Copco launched its first hybrid light tower, the HiLight BI+ 4. This tower combines lithium-ion batteries with a low-consumption Stage V diesel engine, offering flexibility in power sourcing.
The UK-based manufacturer and plant rental company TCP Group achieved a key milestone in August 2024 by operating 500 hydrogen fuel-cell mobile lighting towers in its fleet. This initiative, a collaboration with UK gas provider BOC, aims to replace diesel fuel in lighting towers with hydrogen fuel cells, marking a significant step towards greener lighting solutions.
In January 2024, Generac unveiled the GLT Series of lighting towers as part of a global branding plan. This strategic approach aims to enhance consumer familiarity with the company and its products, offering customers a unified platform for access to the newest lighting tower types.
The global light tower rental market is poised for continued growth, driven by the increasing demand for temporary lighting solutions across various sectors. The adoption of sustainable technologies and innovations by leading players further promises a bright future for the market.
