Global Modular Tower Lights Market 2017-2021

Overview of the global modular tower lights market

Market research analysts at Technavio predict that the global modular tower lights market will grow steadily at a CAGR of around 2% by 2021. The availability of customization options for products is identified as one of the primary growth factors for this market. Numerous vendors offer various customizable options on their modular tower light products. These products are increasingly used by the end-users for various purposes, such as for monitoring applications and indication and alarm systems. There are modular tower lights that are available with continuous lighting or a flashing mode for indication. Depending on the use, end-users can select the type of modular light that suits their applications. There are modular tower lights that use LEDs and normal conventional lamps as well. However, many end-users prefer LED tower lights as they are more energy-efficient and provide enhanced brightness when compared to the normal conventional lights.

In terms of geographic regions, APAC will be the major revenue contributor to the modular tower lights market throughout the forecast period. The rapid industrialization and developments within the end-user industries will increase the demand for modular tower lights in the region. The factors such as the availability of raw materials, cheap labor, and favorable government policies, that are attracting investors to invest in APAC countries, will also lead to the increase in demand for modular tower lights.

Competitive landscape and key vendors  

The modular tower lights market consists of many vendors who offer a variety of product choices for customers. Most vendors offer customizable options, such as different light types, voltage and energy consumption, wired/wireless models, the number of lights, with or without alarm models. These customizations are provided to attract more customers and to gain a competitive edge in the market. Many vendors of modular tower light products are developing LED lights as they are brighter and more durable than conventional modular tower lights.

The leading vendors in the market are -

• Autonics
• Banner Engineering
• PATLITE
• Schneider Electric
• WERMA Signaltechnik

The other prominent vendors in the market are Domo, Edwards Signaling, Fandis, Federal Signal, Mechtric Electrical & Mechanical Engineering Products, Murrelektronik, Qlight, Schmersal, and Turck Banner.

Segmentation by light source and analysis of the modular tower lights market

• LED lights
• Conventional lights

During 2016, the LED lights segment accounted for the major shares of the modular tower lights market. Factors such as the growing awareness among end-user industries regarding energy efficiency and the increased usage in assembly lines and large facilities will contribute to the growth of this industry segment in the coming years.

Segmentation by end-user and analysis of the modular tower lights market

• Discrete industries
• Process industries

As per this market research report, the discrete industries held the maximum market share of the modular tower lights market during 2016. This is mainly due to the increasing usage of modular tower lights in the discrete industries such as automotive, semiconductor, and packaging industries. Modular tower lights are mainly used in these industries to indicate a status of a process or machinery.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global modular tower lights market?
• What are the key market trends impacting the growth of the global modular tower lights market?
• What are the challenges to market growth?
• Who are the key vendors in the global modular tower lights market?
• What are the market opportunities and threats faced by the vendors in the global modular tower lights market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global modular tower lights market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming research report on the modular tower lights market offers insights into the major trends and forthcoming drivers influencing the growth of the industrial automation industry. Our reports for the heavy industry also follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like automation.  

Moreover, to achieve higher accuracy, our industry experts implement an extensive research approach of primary and secondary data collection and assess the changing demand-supply landscape of the automation sector. Few of the key approaches involved in the in this methodology are detailed vendor briefings, online surveys, and consultation of industry journals and publications. Also, by considering the market forecast and size, surging demand for various segments of the automation sector, the market research professionals at Technavio present an all-inclusive picture of the modular tower lights market from 2017 to 2021.

This forthcoming market research report on the modular tower lights market also covers vendors like Schneider Electric, Banner Engineering, Autonics, Turck Banner, Generac, and WERMA ?. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the modular tower lights market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report for the modular tower lights market also categorizes the key drivers, prominent trends, as well as the imminent restraints that the automation sector currently experiences. This upcoming report on the modular tower lights market presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the industrial automation industry. Technavio also provides deep-dive market assessments into the sectors such as robotics.

Our market research methodology for the global modular tower lights market

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.