Report : LED Flashlight Market to 2027 - Global Analysis and Forecasts byType (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight); Application (Residential, Commercial, and Military & Law Enforcement)
Rising Penetration of LED Lighting with Supportive Government Initiatives to Support LED Flashlight Market Growth
According to our latest market study on “LED Flashlight Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Rechargeable and Non-Rechargeable), Product (Safety Flashlight, Everyday Carry Flashlight, and Tactical Flashlight), and Application (Residential, Commercial, and Military & Law Enforcement),” the market was valued at US$ 2,054.0 million in 2019 and is projected to reach US$ 2,884.0 million by 2027; it is expected to grow at a CAGR of 4.48% from 2020 to 2027. The report highlights key factors driving the market growth, and prominent players with their developments in the market.
A flashlight is a portable battery operated device used for illumination. LED flashlights are replacing traditional flashlights as these consume less power and therefore, work for more hours than normal flashlights while producing low heat. The new flashlights are less bright than conventional incandescent bulbs. LED flashlights are heavily used within residential, military & law enforcement, and commercial sectors. As these are energy efficient and function for an extremely long life, they are drawing more attention to the masses. The LED flashlight manufacturers aim to continue enhancing the design of these flashlights. New models with better power sources are gaining high traction. On the other hand, there is an increase in adoption of LED flashlight among military and law enforcement due to its rugged, compact size and weapon mounting capabilities. These flashlights are more sophisticated than the ones used by the consumer segment. Bayco Products Inc., Browning International S.A, Dorcy International, Duracell Inc., Coast Products Inc., Mag Instrument Inc., Energizer Holdings Inc., Pelican Products, Inc., and Streamlight Inc. are among the key LED flashlight market players that have been profiled during this market study.
Impact of COVID–19 Pandemic on LED Flashlight Market
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global electronics industry is one of the major industries that is suffering serious disruptions, such as supply chain breaks, technology events cancellations, office shutdowns, as a result of this outbreak. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. It is also one of the worst-affected countries. The lockdown of various plants and factories in leading regions, such as North America, Europe, Asia Pacific, South America and Middle East & Africa, is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods. All these factors have affected the electronics industry in a negative manner and they would act as restraining factors for the growth of various markets related to this industry in the coming months.
The global LED Flashlight Market has been segmented as follows:
LED Flashlight Market – by Type
LED Flashlight Market – by Region