Global LED Work Light Market Analysis and Forecast 2016-2024, By Operation | 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.

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.

Request for Sample Report@ https://www.persistencemarketresearch.com/samples/13960

Factors such as increased portability and ergonomic design are expected to drive consumer demand thereby creating significant opportunity for manufacturers offering battery operated work lights

Battery Operated

The segment was estimated to be valued at nearly US$ 6,400 Mn by 2016 end and is projected to create incremental value opportunity of more than US$ 2,000 Mn between 2016 and 2024. The segment is slated to reach a market valuation of nearly US$ 8,500 Mn by 2024, registering a CAGR of 3.4% during 2016–2024. This segment is primarily driven by consumer expectations for portable and easy to use work light products. This factor is likely to create significant opportunities for manufacturers offering products with features such as long battery life, increased brightness and ergonomic design.

“Growing consumer demand for efficient, durable and low maintenance work lights is driving the market

Increasing demand for energy efficient work lights offering durability to work in more severe conditions and requiring low maintenance are primarily driving the market for LED work lights. LED work lights are preferred over other work lights as LED work lights offer higher efficiency and longer battery life.

Request for Report Table of Content (TOC) @ https://www.persistencemarketresearch.com/methodology/13960

Consumer perceptions and a lack of awareness are prime restricting factors

The market expansion of the global LED work light market is currently confined to an extent, owing to the perception among some consumers that LED work lights are expensive. Also, there exists a potential consumer segment that lacks awareness regarding the benefits of using LED lighting products.”

Report Structure

The report starts with the market overview and provides market definition and taxonomy along with value chain, region-wise pricing analysis, drivers, restraints, and trends in the global LED work light market. The sections that follow include the global LED work light market analysis – by product type, operation, sales channel, end-use, and regional/country level analysis. All the above sections evaluate the global LED work light market on the basis of various factors impacting the market. Each section discusses the qualitative and quantitative aspects of the global LED work light market. To give a brief idea about revenue opportunities from the product type, operation, sales channel, end-use, and region/country-wise segments, the report also provides volume data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2016-2024).

Key Points Covered in this Report are:
Executive Summary
LED Work Light Market Introduction
LED Work Light Market Analysis Scenario
LED Work Light Market Dynamics
North America LED Work Light Market Analysis and Forecast

Ask An Expert@ https://www.persistencemarketresearch.com/market-research/led-work-lights-market.asp#enquiry

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sumit@tmr.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.