The Global LED Work Light Market, By Operation (Battery Operated, (Rechargeable and Non- rechargeable), and Plug-in), By Product Type (Flashlight, Spotlight, Clamp light, Lantern and Others), By Sales Channel (Direct Sales, Retail Outlets, Online and Others), By End Use Industry (Residential, Commercial & Institutional (Garage, Farms, Laboratories and Others), Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 11,620.6 million by 2027, exhibiting a CAGR of 3.1% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
Portable lights are typically designed to temporarily illuminate working areas at the residential, industrial, and commercial workplaces. These fixtures use LED technology as a main source of illumination and are termed as LED work light. There are three types of LED work light namely battery-operated rechargeable LED work lights, battery-operated non-rechargeable LED work lights, and plug-in LED work lights. Residential segment encompasses flashlights required for searching in dark areas, spotlights for minor indoor repair operations, clamp lights for desk work, lanterns for temporarily illuminating the work area and for outdoor recreational activities such as camping. In industrial end-use segment, flashlights, spotlights, headlights, lanterns, clamp lights, and so on, which are used at industrial working place are included.
The global LED work light market is estimated to account for US$ 11,620.6 Mn in terms of value by the end of 2027.
Increasing demand for explosion-proof LED work lights is expected to support growth of the global LED work light market during the forecast period
Recently, there has been a rising demand for explosion-proof LED lighting, which finds applications in environments that could be prone to explosions, such as petrochemical plants, where explosive/combustible gases and vapors exist, and in mining, military and transportation applications. Furthermore, in these applications, mercury vapor lamps are being banned by governments in different regions, explosion-proof LED lights may be the only choice in the next few years. For instance, in November 2014, Larson Electronics LLC, a U.S.-based manufacturer of industrial lighting, introduced a new portable explosion-proof LED Work Light for low voltage operation. The product is ideal for illuminating enclosed areas and hazardous locations where flammable vapors, gases, and dust may be present. Thus, these factors are expected to accelerate growth of the market.
Increase in quality of LED lighting products can provide excellent growth opportunities
It is crucial to note that increase in efficiency for Standard Deviation Color Matching (SDCM) control and color rendering index in LEDs could provide a big opportunity for growth of the high-end commercial lighting market, since it requires high quality LED lighting. For instance, exhibition, museum, and gallery lighting applications could pose a future growth opportunity for high-end commercial LED lighting products.
Lack of consumer awareness is expected to hinder the global LED work light market growth over the forecast period
Despite being popular among end users, there is a massive low awareness among users, especially in emerging economies. A vast number of users in these countries are still using CFL and incandescent light fixtures. Moreover, there is a perception among many users that LED lights are relatively expensive as compared to conventional lights, which in turn, is expected to hinder the global LED work light market growth in the near future.
Many LED work light manufacturers are focused on building online sales channels for effective sales and distribution. In order to meet the premeditated aim, work light manufacturers are using online sales channels to help customers buy products. Furthermore, they are providing price incentives for online purchases, and have been stationing their direct business development representatives and agents in various cities to ensure quick product delivery. For instance, Scangrip, a Denmark-based company, is promoting and selling their LED work light products through their online sales and distribution partner, work lightpro.co
Major companies in the market are focused on merger and acquisition activities, in order to gain a competitive edge in the market. For instance, in February 2013, Lex Products, a manufacturer of LED lighting products, acquired ATS Lighting, a manufacturer of industrial portable fluorescent work lights and temporary lighting systems, and expanded into the portable work light market with ATS Lighting’s line of industrial work lights by re-branding it.
Key players involved in the global LED work light market are ABL Lights Inc., WF Harris Lighting, Bayco Products Inc., Streamlight Inc., Cooper Industries (EATON Corporation), Luceco plc, Ericson Manufacturing Co., Lex Products Corp, and Larson Electronics LLC.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.