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According to the new research report published by The Insight Partners, titled “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.
In 2019, APAC led the global LED Flashlight market with a 52.4% revenue share. The Asia Pacific region has become a global manufacturing hub with the presence of diverse manufacturing industries, military, and economic scale. Asian market witnesses massive growth of LED flashlights about an increase in the manufacturing & construction sector, a large number of developing countries, and the military. Therefore, the adoption of LED lighting products, including a flashlight, and bulbs is rising.
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China is one of the major countries which has a significant market share in the LED flashlight market driven by increasing commercial products. Due to the increasing population of the country, the construction of China is growing at an exponential rate and thereby up surging demand for advanced lighting products to ensure hassle-free working in the construction areas. In North America, the US is the most developed country. As the country is an early adopter of technologies, the scope of the flashlight is high in the North American region. More adoption of a rechargeable LED flashlights is witnessed in the US compared to other North American countries. This factor encourages LED flashlight manufacturers to increase their respective production capacity of rechargeable LED flashlights. The Middle East region is projected to grow at a notable rate over the forecast period owing to the presence of numerous oil & gas companies in the region being involved in the exploration and production of natural gas and crude oil for delivering fuel and combustion material for commercial applications. Thus, there is an increasing demand for LED flashlights for the applications to provide a better vision to the workforce.
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 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 the adoption of LED flashlights 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.
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Increasing Demand for Tactical LED Flashlights due to Small Size and Rugged Material
The rising in military spending worldwide is one of the significant factors boosting the adoption of technologically advanced equipment such as tactical LED flashlights. The tactical LED flashlights meet high-quality standards as they are made up of rugged materials. Aircraft-grade aluminum is the main raw material used in flashlight manufacturing; it makes these lights waterproof, long-lasting, and shock-proof and allows manufacturers to keep their size small. The rubber o-ring gasket seals on both ends making these lights waterproof. Tactical flashlights are robustly being used across the military and law enforcement sector, jungle hiking, coal mines, and hunting. Owing to the ruggedness of the materials, the flashlights can be attached to any weapon. Simple flashlights, which have traditionally been in use in military applications, comprise a multifunctional tool used in various hazardous situations.
X-ray Security Scanner Market: Competitive Landscape and Key Developments
Bayco Products Inc., Browning International S.A, Dorcy International, Duracell Inc., Coast Products Inc., Mag Instrument Inc., Energizer Holdings Inc., Ledlenser Gmbh & Co. KG, Pelican Products, Inc. and Streamlight Inc. and Thales Group are among the key players in the global X-ray Security Scanner market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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In 2020, Bayco Products Inc. partnered with H&G Marketing to Bayco Products Inc.’s retail reach in US.
In 2020, Pelican Products, Inc. introduced the world’s most versatile professional-grade flashlights with the Pelican 3410 and 3410M (magnet) LED and the Pelican 3415 and 3415M LED.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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