LED Work Lights Market Revenue is Expected to Reach US$ 10.6 Billion by 2024Posted by Justin Barnes on February 28th, 2017 According to Persistence Market Research –
Nevertheless, manufacturers of LED work lights are striving to curb the impact of such misconceptions by introducing advanced capabilities in existing product lines, and by extending the durability & power efficiency of new products. In a latest report published by Persistence Market Research, the global LED work lights market procured an estimated value of US$ 8,195 million in 2016. According to the report, the global market for LED work lights will expand moderately at 3.3% CAGR to reach US$ 10,661.3 million value by the end of 2024. Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/13960 In terms of volume, more than 1 million units of LED work lights will be consumed globally by 2024-end. Despite the deterrents, factors such as growing online sales, surging demand for explosion-proof work lights, and rapid urbanization will continue bolster the global LED work lights sales in the years to come. Battery Packs Powering the World’s LED Work Lights Seven out of every ten LED work lights sold in the world are equipped with battery packs. This clearly indicates a higher preference to battery-operated LED work lights as opposed to plug-in products. In 2016, more than 660,000 units of battery-operated LED work lights were sold in the world, over 60% of which were rechargeable ones. On the other hand, global consumption of plug-in LED work lights is predicted to reach 315,000 units by the end of 2024. Correspondingly, a majority of LED work lights being used for multiple operations are likely to be flashlights. The global market for LED work lights will keep witnessing lucrative growth for flashlight products, revenues from which will account for over 55% value share. Demand for lanterns is also expected to grow at a rampant pace of 4.3% CAGR, while spotlights, clamp lights and other LED work light products will lose out on their global market presence. Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/led-work-lights-market/toc In the report, titled “LED Work Light Market: Global Industry Analysis and Forecast, 2016-2024,” every other LED work light consumed across the globe is sold on an online platform. Such a key revelation has been effectively prompting manufacturers to explore their sales & marketing options beyond retail stores and direct sales centers. Likewise, almost every other LED work light is used for lighting residential spaces. In 2016, more than US$ 4,000 million worth of LED work lights were consumed for residential sectors across the globe, primarily for lighting up garages. Besides, the demand for LED work lights will be fairly higher for commercial & industrial end-use as well. By the end of 2024, around US$ 4,500 million in revenues will be amassed from global sales of LED work lights in industrial & commercial settings. To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/13960 Lifestyles and eco-friendly choices of consumers play a crucial role in identifying potential buyers for LED work lights. Correspondingly, Europe is expected to remain the largest market for LED work lights in the world. With more than one-third share of global revenues, Europe’s LED work lights market value will soar modestly at 3.1% CAGR. Meanwhile, Asia-Pacific’s LED work lights revenues will acquire a relatively faster growth, registering a 3.8% CAGR. For North America, the projected LED work lights sales are likely to hit close to 210,000 units by the end of 2024. Leading manufacturers of LED work lights profiled in this report include, ABL Lights Inc., Bayco Products Inc., Cooper Industries (EATON Corporation), Streamlight Inc., Ericson Manufacturing Co., Larson Electronics LLC, WF Harris Lighting, Luceco plc, and Lex Products Corp. About Us Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values. Contact Persistence Market Research 305 Broadway 7th Floor, New York City, NY 10007, United States USA - Canada Toll Free: +1 800-961-0353 Email: sales@persistencemarketresearch.com Like it? Share it! More by this author |