Global LED work light market sales reached close to 1 million units in 2018, reveals PMR’s new LED work light market research report. According to the study, the LED work light market is estimated to grow at a CAGR of 3.5% in 2029. The increasing inclination of consumers towards high efficiency and lower maintenance products is expected to drive the LED work light market. Based on the analysis, end users of industrial, commercial, and residential lighting systems have come to expect high efficiency, quality, longevity, durability, and reduced maintenance in the lighting products they use.
What is driving the growth of the LED work lights market. In addition, factors such as increased portability and ergonomic design are expected to drive consumer demand, contributing to the creation of the LED work light market by 2029. The global LED work light market reflected a value of US$9,000 million in 2018. and is projected to reach the LED work lights market valuation of US$13.3 Bn by the end of 2029.
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Artificial Intelligence would be the standard-bearer of industrial automation in the next decade. AI-related techniques are set to lead not only the wave of technological advances, but will also prove to be economically relevant. This could be attributed to powerful and flexible machine software. In addition, in the future, functional tests related to manufacturing equipment are likely to be performed using comprehensive modes related to simulation and virtual commissioning.
The production machines would thus be digitally fed, that too, with “live” data throughout the life cycle of the equipment. Wireless protocols like 5G would be the buzzword in the future. Persistence Market Research is there with the automation-oriented mindset of its analysts and consultants, followed by insights into the same.
Growing preference for smart lighting to drive demand for LED work lights
The advanced features of LED work lights allow users to control the lights remotely. This is achieved through the use of digital communications with sensors integrated into the lighting and LED controls. Which is set to facilitate the growth of integrated lighting networks, consistently creating an increase in demand for LED work lights. Additionally, LED work lights are insensitive to vibration and provide better illumination, so they can be deployed in industrial areas with severe vibrations where conventional lighting solutions are not feasible.
According to the PMR study, the prominent players in the LED work light market offer a wide range of products with advanced characteristic properties, such as battery-powered LED work lights. In addition, a host of manufacturers have invested heavily in new features, such as LED work lights with sensors to monitor temperature and power usage; subsequently, the market for LED work lights emerged.
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Regulatory intervention to improve the North American LED work light market
According to DOE (US Department of Energy) projections, LEDs are expected to reduce energy consumption for lighting by 15 to 20 percent. Reflecting this, regulatory mandates are implemented by government authorities. Strict regulations and standards related to energy efficiency, including bans on inefficient technologies, are accelerating the rate of adoption of LED work lights.
Regulatory intervention is a key factor for the acceptance of LED technology. Due to environmentally friendly initiatives and planned global incandescent phase-outs, the scope of replacement will provide substantial growth in the LED work light market during the forecast period.
LED Work Light Market: Vendor Insights
PMR’s business analysis also highlights pioneering insights into the competitive landscape of the LED work lights market and the strategies of the major players in the market. Some key players in the market are ABL Lights Inc., Bayco Products Inc., Cooper Industries (EATON Corporation), and Larson Electronics LLC, among others. LED work light manufacturers have focused on building faster and more effective sales and distribution infrastructure for their products across all geographies.
They are providing price incentives for online purchases. In addition, various major players of the LED work light market are adopting various strategies related to consumer demand, such as launching new products, remarkable development in R&D to enhance their product portfolio, and upgrade their products in appearance. technological. For example, In November 2014, Larson Electronics LLC, a Texas, USA-based manufacturer of industrial lighting and power distribution products, launched a new explosion-proof portable LED work light for low-voltage operation. . The product is ideal for lighting closed areas and dangerous places.
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