The LED flashlight market accounted for US$ 1,965.2 Mn in 2018 and is expected to grow at a CAGR of 5.2% over the forecast period 2019-2027, to account for US$ 3,075.1 Mn in 2027. During the forecast period of 2019 to 2027, the rising penetration of LED lighting and supportive government initiatives are expected to drive the demand for LED flashlights across the globe. However, lack of standardization and availability of alternative products may restrain the future growth of LED flashlight market. Despite these limitations, the increasing demand for energy-efficient lightning solutions over conventional ones is projected to offer ample growth opportunities for the players operating in the LED flashlight market during the forecast period of 2019 to 2027.
The market for LED flashlight has been segmented on the basis of type, application, and Geography. Based on type, the market has been segmented into rechargeable and non-rechargeable type. Rechargeable LED flashlight segment the fastest 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 flashlight market. The LED flashlight market on the basis of geography is segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. North America is one of the prominent regions in the global LED flashlight market. The US highly pushes local assembly of the LED lightings to fulfill the demand of local markets, which would further help to broaden the scope of local markets. Attributing to an increase in the proportion of LED lights, the LED industry in the US is strong. The manufacturers of the US are putting additional efforts in accelerating the business of LED lighting and its products. Moreover, the country witnesses a huge demand for LED flashlights in law enforcement and the military to provide proper assistance. LED tactical lights are also heavily used by Police and Law Enforcement Departments in the country. These tactical torches are integrated with smart features such as multiple beams, self-programmable modes, and USB rechargeable. This factor is expected to prosper the entire LED lighting market and eventually have a positive impact on the LED flashlight market. Some of the key companies in the US include Larson Electronics, WorkSite Lighting, LLC, and Mag Instrument, Inc. among others.
The overall LED flashlight market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the LED flashlight market. It also provides the overview and forecast for the LED flashlight market based on all the segmentation provided with respect to North America, Europe, APAC, MEA, and SAM. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the LED flashlight market. Some of the players present in LED flashlight market are 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.