The North America LED flashlight market accounted to US$ 385.2 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 – 2027, to account to US$ 516.5 Mn by 2027.
The US, Canada, and Mexico are the regions covered in the North American LED flashlight market. The availability of efficient infrastructure in the developed nations has enabled the manufacturing companies to explore the limits of science, technology, and commerce. The US is a developed country in terms of modern technology, a standard of living, infrastructure, and many others. The region witnessed technological advancements, which has result in a highly competitive market. North America is a hub of technological development which is encompassed with economically robust countries. Incorporating LEDs into flashlights enables the technology to be portable and compact, which is suitable for a workforce who uses a flashlight during the case of an emergency where brightness is important for performing or equipment repairs or rescue operations. Further, North America is witnessing a huge demand for LED flashlights among residential, commercial building, and more. This factor would help to increase the penetration of entire lighting sales.
Market Insights
Rising penetration of LED lighting and supportive government initiatives to drive the demand
The popularity and penetration of LED lighting have grown at an unprecedented rate during the past few years. The usage of LED-based lighting solutions in both residential and commercial applications is rising at a fast pace owing to falling prices of LED and increasing technological advancements in LED technology. According to International Energy Agency (IEA) statistics, the global uptake of LED-based lighting has been increasing at a substantial rate, and in the global residential sector, it rose from 5% market share in 2013 to reach 40% market share in the year 2018. The lowering costs of LED is another complementing factor that is anticipated to fuel the overall adoption of LED-based lighting solutions worldwide owing to positive initiatives taken by various countries. In addition, government initiatives to phase out inefficient halogen lamps and fluorescent lights and to introduce minimum quality standards for LED lighting are projected to drive the growth of the LED market worldwide.
Growing usage of LED flashlights as a safety tool in hazardous situations
With the evolving lighting technologies and improvement in materials, the adoption of LED-based flashlights is growing at an impressive pace in military & marine operations, law enforcement, oil & gas industries, and mining, among other industries. Many manufacturers are offering a wide variety of tactical LED flashlights that can be deployed in hazardous environments. The companies operating in the LED flashlight market are continuously working on improving their products in terms of weight and lifespan to meet the specific requirements of diverse industries. The LED flashlights are quickly replacing traditional incandescent flashlights owing to their benefits such as lightweight, high power, long lifespan, high efficiency, and long-range. Explosion-proof LED flashlights are a perfect example of technology advancements in the LED flashlight market. Hence, the demand for durable, safe, and innovative LED flashlights, especially in hazardous work environments, is anticipated to drive the future growth of the North American LED flashlight market.
Type Insights
The LED flashlight market by type is segmented into a rechargeable LED flashlight, and a non-rechargeable LED flashlight. In 2018, the rechargeable LED flashlight segment held the largest share in the LED flashlight market and it is anticipated to continue its dominance during the forecast period of 2019 to 2027.
Application Insights
The LED flashlight market by application is segmented into residential, commercial, and military & law enforcement. LED flashlights provides varied advantages over traditional filament bulb flashlights. This type of LED flashlights are broadly utilize by common public, industries, commercial places, firefighters, military, and law enforcement. As these batteries last longer, so there run-times is longer. In 2018, the commercial segment held the largest share in the LED flashlight market and it is anticipated to continue its dominance during the forecast period of 2019 to 2027.
Exhibit: Mexico LED flashlight Market by Type
Strategic Insights
New product development was observed as the most adopted strategy in the LED flashlight market. Few of the recent developments are listed below;
2019: Listening to feedback from fire departments who need a rugged, lightweight, hands-free lighting solution with a powerful piercing beam, Nightstick created the NSP-4640B FORGE and XPP-5465R IS FORGE helmet lights.
2019: The new INOVA T8R PowerSwitch Dual Color Rechargeable LED Flashlight, Nite Ize offers high-quality illumination solutions that address the needs of serious flashlight users
2018: Pelican Products Inc. introduced the Pelican 5 Series LED slide beam flashlights. The Pelican 5 Series flashlight line was developed with industrial workers in mind.
NORTH AMERICA LED FLASHLIGHT MARKET SEGMENTATION
North America LED Flashlight Market, By Type
North America LED Flashlight Market, By Application
North America LED Flashlight Market, By Country
North America LED flashlight Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 385.2 Million |
| Market Size by 2027 | US$ 516.5 Million |
| CAGR (2019 - 2027) | 3.4% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America LED Flashlight Market is valued at US$ 385.2 Million in 2018, it is projected to reach US$ 516.5 Million by 2027.
As per our report North America LED Flashlight Market, the market size is valued at US$ 385.2 Million in 2018, projecting it to reach US$ 516.5 Million by 2027. This translates to a CAGR of approximately 3.4% during the forecast period.
The North America LED Flashlight Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America LED Flashlight Market report:
The North America LED Flashlight Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America LED Flashlight Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America LED Flashlight Market value chain can benefit from the information contained in a comprehensive market report.
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