The global LED flashlight market accounted to US$ 1,965.2 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 – 2027, to account to US$ 3,075.1 Mn by 2027.
The conventional flashlights use incandescent bulbs which consist of a tungsten filament that glows whereas LED flashlights consist of solid-state semiconductor devices that emit light. The efficiency and performance of LED flashlights are far superior to conventional flashlights. LEDs are characterized by high brightness, less power consumption, and long life span in comparison to the traditional incandescent flashlights. During the initial years of LED lights, the LED based lighting solutions were costly. However, over the years, due to evolving LED technology and supportive government initiatives, the prices of LED based lighting solutions have dropped drastically.
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LED flashlights are also used in warehouse to support personnel during power outage or inadequate power supply. The Illuminating Engineering Society of North America (IESNA) has mentioned about current lighting methods to accomplish higher efficiency and greater safety in the warehouses and storage areas. The lighting levels and visibility need within the warehouse rely over numerous factors, such as task performed, open space or closed space, age of workers, and many more. Moreover, as per the U.S. Occupational Safety and Health Administration (OSHA), the fatal injury rate in warehousing industry is comparatively high than the national average witnessed in myriad industries. Therefore, for the lighting manufacturers, it is mandatory to comply with all the regulations formulated by OSHA and IESNA.
The market for LED flashlight has been segmented on the basis of type, application, and country. Based on type, the market has been segmented into rechargeable and non-rechargeable type. Rechargeable LED flashlight segment the largest growing type in the overall market throughout the forecast period. Based on application, the LED flashlight market has been segmented into residential, commercial, and military & law enforcement. In 2018, commercial segment contributed a substantial share in the LED falshlight market. The LED flashlight market on the basis of geography is segmented into the North America, APAC, Europe, Middle East & Africa, and South America.
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The major companies offering LED flashlight market include Bayco Products Inc., Browning International S.A, Dorcy International, Larson Electronics LLC, Mag Instrument Inc., Nite Ize Inc., Energizer Holdings Inc., Pelican Products, Inc., Streamlight Inc., and Surefire, LLC among others. Several other companies are also offering these LED flashlights, which is facilitating the market to propel over the years.
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