Posted On: 2019-11-22
Brazil accounted for the largest share in the South America light Tower market– 6Wresearch
Rising population with limited access to electricity, increasing operations in the mining and oil & gas industry, growing demand for eco-friendly source of light, accompanied by the need to provide high-efficiency LED spotlights recharged with solar panels on construction sites and development of smart cities, is expected to accelerate the demand for light Tower in South America.
According to 6Wresearch, South America Light Tower Market is expected to grow at a CAGR of 1.7% during 2019-25. Brazil is the leading country, in terms of revenues, in the overall South America light Tower market in 2019. In Brazil a major chunk of population nearly around 90% is living below poverty line and does not have access to basic amenities, such as electricity and lighting in homes, schools, health clinics. So, to provide adequate electricity and lighting in these areas, the Brazilian government has adopted Light for All, a rural electrification program specially designed to eliminate the “electrical poverty and lift rural residents into higher standard of living, which would result in widespread adoption of light Tower in the country.”
According to Gurbani Kaur, Senior Research Analyst, Research and Consulting, 6Wresearch, “LED light tower is the highest revenue generating segment owing to increasing demand for energy-efficient, reliable and sustainable source of light. LED lights in comparison to incandescent bulbs, utilizes 75% less energy and lasts much longer. . Further, rising awareness towards green technology would also drive the growth of these energy-efficient and environment-friendly lighting solutions. The projects introduced by the Lighting Science Group aims at saving the energy expenditure by more than 50% by 2025 than 50% and increase the deployment of street-lighting in the region. This would increase the LED light tower market demand in South America.”
According to Akansha Chopra, Research Associate, Research and Consulting, 6Wresearch, “In South America, the demand for solar light Tower would accelerate as the mining industry is switching to solar power to fulfil its high energy requirements in very remote locations. Replacing diesel generators with renewable energy sources would also help in reduction of greenhouse gas emissions, thereby increasing the demand for solar light Tower.”
"South America Light Tower Market (2019-2025)” report provides an in-depth analysis with 28 figures covered in over 30 pages. The report estimates and forecast the overall South America 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.