Battery Operated Lights Market : Growth in Manufacturing Sector after COVID-19 Pandemic Provides Huge Opportunities
COVID-19 Scenario Analysis:
• The coronavirus pandemic has impacted the manufacturing of battery operated lights due to the lockdown regulations being implemented in various countries and shortage in manpower.
• The export and import restrictions have caused a shortage of raw materials such as batteries, which are needed for the production of the products.
• The disruption of the supply chain and the transportation restrictions have led to a decline in the availability of products in the market.
• The shutdown of distribution channels has declined the sales of battery operated lights and has caused revenue crunch in the market.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Advancement in technology and innovative products has increased the requirement of sustainable battery operated lighting system. The lighting systems have evolved from the use of carbon filament bulbs to IoT lights, which can be operated by various types of batteries with the convenience of use. The increase in awareness, surge in technology and innovation, changes in trends and fashion, lighting system as home decor, attractive designs of the lights, long-lasting batteries, rechargeable batteries, environment-friendly products, increased urbanization, negligible consumption of electricity by battery operated lights, increase in dependence on electricity supply, high electricity prices, global warming, and environmental impact, government initiatives, increased safety of the product, ease of use of products, portable devices, and increase in disposable income drive the growth of the global battery operated lights market. However, the wide use of traditional lights, high price of battery operated lights, lack of awareness in the rural population, and high repair cost of batteries hinder the market growth.
The global battery operated lights market trends are as follows:
The surge of an advanced lighting system
The increase in demand for electricity for daily requirement residentially as well as commercially in working places, shops, markets, malls, and others have created exponential stress on the electricity sources and harmful effect on the environment by emissions, which contribute in global warming. The daily use of the lighting system and the rise in prices of electricity have created a demand for the battery operated lights. The innovative lights are developed to provide convenient illumination and safety of using the products. The new lighting system is developed on the three categories of lighting such as general or ambient, task lighting, and accent lighting; therefore the LED lights are designed in various sizes and shapes according to their mode of use. The battery operated lights can be used in the cabinets, closets, bathrooms, kitchens, pantries, garages, and other places where they can be attached and removed easily whenever required.
The incorporation of technological devices within the battery operated lights such as sensors, remote and phone connectivity, auto-timers, dual utility, waterproof feature, and others have increased the feasibility, convenience, and exhibition of the lighting system. The variants of battery operated lights consist of bars, pucks, misc, magnifiers, picture light, umbrellas, security lights, solar-powered lights cordless lights, garden lights, motion sensor lights, and others. The key manufacturers have launched the various types of lighting system which can be used permanently for daily use and specialty lights for occasional uses with enhanced batteries and safety systems.
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•Companies covered Philips, Hubbell Lighting Inc., Mr Beams, BelloLite, General Electric, American Lighting Inc., Eaton Corporation, Schneider Electric SE, Emerson Electric, Legrand S.A., OTOP USA Inc., Acuity Brands, ABL Lights Inc., Bayco Products Inc., Larson Electronics LLC.
Key Benefits of the Report:
• This study presents the analytical depiction of the global battery operated lights industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global battery operated lights market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global battery operated lights market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailed global battery operated lights market analysis based on competitive intensity and how the competition will take shape in the coming years.
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