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European LED Flashlight Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

·4-min read

The "Europe LED Flashlight Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, Product, and Application" report has been added to ResearchAndMarkets.com's offering.

The Europe LED flashlight market is expected to grow from US$ 244.8 million in 2019 to US$ 326.7 million by 2027; it is estimated to grow at a CAGR of 3.8 % from 2020 to 2027.

Rising demand for tactical light emitting diode (LED) flashlights due to small size and rugged material drives the growth of the Europe LED flashlight market. Growing military spending across the region boosts the adoption of technologically advanced equipment such as tactical LED flashlights. The tactical LED flashlights meet high-quality standards as they are made of rugged materials. Aircraft-grade aluminum is the main raw material used in flashlight manufacturing; it makes these lights waterproof, long-lasting, and shockproof, and allows manufacturers to keep their size small. Tactical flashlights are robustly used across the military and law enforcement sector, jungle hiking, coal mines, and hunting. Owing to the ruggedness of materials, flashlights can be attached to any weapon. Simple flashlights, which have been used in military applications, comprise a multifunctional tool used in various hazardous situations.

However, tactical flashlights have a rechargeable battery backup of up to 48 hours and a greater capacity of at least 500 lumen. Due to its small size, these flashlights are used for self-defense by disabling the vision of an attacker at night. The tactical LED flashlights can be attached to any weapon as they are waterproof and made of rugged materials. Therefore, their demand would increase in the coming years. Also, the growing penetration of LED lighting and increasing support by governments are expected to drive the Europe LED flashlight market during the forecast period.

The COVID-19 pandemic is adversely affecting countries in Europe, especially the UK and Russia. Europe is one of the key regions for the growth of the LED flashlight market as it comprises many developed countries such as Germany, the UK, France, Italy, Norway, and Sweden, where military spending is relatively higher than other regions coupled with increased investments in LED flashlight manufacturing startups. Also, the rising adoption of advanced technological solutions in various industries makes this region an ideal market for the growth of the LED flashlight market. Businesses in the region are facing severe economic difficulties as they are suspending their operations or substantially reducing their activities. Governments are imposing lockdowns and putting restrictions on movements and manufacturing activities across Europe to contain the novel coronavirus outbreak. These factors are hampering the supply and demand of LED flashlights, which is restraining the Europe LED flashlight market.

Based on product, the everyday carry flashlights segment led the Europe LED flashlight market in 2019. Everyday carry flashlights feature low to medium lumen range. These are available in compact, and pen- and medium-size variants with low to medium battery capacity. A majority of these LED flashlights is offered with standard housing, while a few are offered in rugged housing with waterproof capabilities. The demand for everyday carry flashlights is rising due to increasing adoption and retrofitting of electronics and other appliances in the industrial, commercial, and residential sectors as well as high integration of these flashlights in toys. Additionally, the surging frequency of blackouts and power cuts at remote locations bolster the adoption of these LED flashlights across the region. Therefore, the demand for LED flashlights is expected to increase in the coming years, which will drive the Europe LED flashlight market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe LED flashlight market.

  • Highlights key business priorities in order to assist companies to realign their business strategies

  • The key findings and recommendations highlight crucial progressive industry trends in the Europe LED flashlight market, thereby allowing players across the value chain to develop effective long-term strategies

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the LED flashlight market, as well as those hindering it

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Rising Demand of Tactical LED Flashlights due to Small Size and Rugged Material

  • Increase in penetration of LED Lighting with Government Support

Restraints

  • Inadequacy of standardization and Presence of Alternative Products

Opportunities

  • Growing Preference for Energy-Efficient, Non-Conventional Lighting Solutions

Future Trends

  • Escalation in the Use of LED Flashlights in Hazardous Industrial Environments

Companies Mentioned

  • Bayco Products Inc.

  • Browning

  • Coast Products

  • Dorcy International, Inc.

  • Duracell Inc.

  • ENERGIZER HOLDINGS, INC.

  • Ledlenser GmbH & Co. KG

  • Mag Instrument Inc.

  • Pelican Products, Inc.

  • Streamlight Inc.

  • Surefire LLC

For more information about this report visit https://www.researchandmarkets.com/r/xr7j7w

View source version on businesswire.com: https://www.businesswire.com/news/home/20210223005808/en/

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