The demand for LED flashlights is increasing due to the requirement for energy efficient lighting systems in commercial buildings. While the energy efficiency of lighting systems is critical to complying with government regulations governing commercial building projects, this is further complemented by restrictions on the adoption of incandescent lighting products. The increasing implementation of minimum standards for the efficiency of lighting products will remain a prominent factor driving the demand for LED flashlights in the near future .
A new report by Persistence Market Research (PMR) indicates that the global flashlight market will witness strong growth at a CAGR of around 8% between 2019 and 2029 . According to the report, the market revenue reached US$5 billion in 2018, and the rise in sales of flashlights for outdoor leisure activities will further drive the market growth. The breakthrough penetration of LED technology will be the key to shaping the flashlight market in the next decade.
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key person; main force; important member:
The report describes some of the key players that are popular globally such as Energizer Holdings, Inc., Dorcy International Inc., Pelican Products, Inc., Mag Instrument Inc., Surefire LLC, Streamlight Inc., Larson Electronics LLC, Bayco Products Inc. ., Browning Arms Company, Nite Ize Inc., etc.
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Key Takeaways – Torch Market Research
- Traditionally, incandescent bulbs have a short lifespan, lasting 6-7 hours before they burn out and require battery replacement. On the other hand, the LED flashlight is shockproof and waterproof, and has a battery life of up to 100,000 hours.
- High demand for everyday carry torches in the residential sector is expected to dominate. These flashlights are versatile and can be charged by plugging them into an electrical outlet. They are lightweight, durable and convenient.
- The lack of standardization of the technologies and components used to manufacture flashlights and other LED lighting continues to lead to product and price differentiation. This restrains the growth of the market to a certain extent.
- Demand for torches in home inspection applications is expected to remain high.
- The Asia Pacific region is creating substantial penetration opportunities for flashlight market players as a significant portion of the Asian population remains untapped and unaware of products such as LED flashlights, torches, and lanterns.
The growing popularity of explosion-proof LED flashlights marks an important trend in the market. Due to government restrictions on the use of mercury vapor lamps in chemical plants and other similar industrial settings, some leading companies have focused their development strategies on these explosion-proof LED flashlights. Earlier this year, Larson Electronics introduced a UL Listed Portable Explosion Proof LED Light. This flashlight is approved for use in Class 1, 1 and 2, and Class III locations.
Home Inspection and Homeland Security Key Growth Contributor
The combined use of flashlights for home inspections and homeland security currently accounts for more than 48% of the total market value . These are expected to remain the most lucrative application areas for flashlight manufacturers and other market stakeholders. However, the study also showed a healthy rate of flashlight adoption for outdoor leisure activities, which accounted for approximately 20% of total sales as of the end of 2018. During the forecast period, this will be one of the key application areas for flashlights with steady growth in sales.
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Gain More Valuable Insights on the Torch Market
This research report provides a detailed analysis of global flashlights and provides insights into various factors contributing to their growing demand. To understand the torch opportunity, the market is segmented based on product (LED torches, incandescent torches), end user (residential, industrial), and application (homeland security, home inspections, outdoor recreation, construction and auto repair, hospital visits), game ), across seven major regions.
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