December 05, 2019
According to the new research report available at MarketStudyReport.com under the title ‘LED Flashlight Market to 2027 - Global Analysis and Forecasts by Type (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight); Application (Residential, Commercial, and Military & Law Enforcement)’, the worldwide LED flashlight market is anticipated to amass US $3075.1 million by the year 2027.
The growing penetration of LED lighting and supportive government initiatives are predicted to drive the demand for LED flashlights globally. However, lack of consistency and availability of alternative products may restrict the future growth of LED flashlight market. In spite of these limitations, rising demand for energy-efficient lightning solutions will fuel the adoption of product, hence propelling the growth of LED flashlight market.
The report cites that LED flashlight market was worth US $1965.2 million in2018 and is expected to grow with a CAGR of 5.2% over the projected timeframe. It further examines the market on the basis of type, application spectrum, and regional outlook.
Based on type, the market is segmented as non-rechargeable and rechargeable. Rechargeable LED flashlight market is projected to register accelerated growth over the forecast time frame. While speaking of application spectrum, LED flashlight industry is fragmented as residential, military & law enforcement, and commercial, wherein, the later segment contributed significantly towards the market share in 2018, cites the report.
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Considering the regional outlook, the global LED flashlight market is divided into five regions which are Asia Pacific, Europe, South America, North America, and Middle East & Africa. As per the study, North America is the lucrative revenue generating region in the worldwide LED flashlight market, as US extensively pushes local assembly of LED lightings to meet the demand of local market. Moreover, smart features such as USB rechargeability, multiple beams, and self-programmable modes are encouraging the adoption of product across law enforcement & military application in the region.
The prominent companies operating in LED flashlight market include Surefire LLC., Bayco Products Inc., Streamlight Inc., Browning International S.A, Pelican Products, Inc., Dorcy International, Energizer Holdings Inc., Larson Electronics LLC, Nite Ize Inc., Surefire LLC, and Mag Instrument Inc.
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