Demand for work light might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period, according to the latest research, sales of work light is set to witness steady growth with a CAGR of over 3.8% during 2021-2031. Post-pandemic, the anticipated growth in the industrial sector is expected to see a rise in demand for work light.
In the US and Canada region, one of the prominent trends captivating customer attention is the diverse range of innovative work light products offered by manufacturers. Additionally, the market’s growth is driven by the strong presence and penetration of renowned global brands in the region.
The regional population’s preference for high-intensity work lights, fueled by their robust spending power, also plays a significant role in driving market growth. As customers seek reliable and efficient lighting solutions for their various projects, the work light market in the US and Canada continues to flourish.
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Overview
According to the latest research, sales of work light is set to witness steady growth with a CAGR of over 3.8% during 2021-2031. Demand for work light might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period. Post-pandemic the anticipated growth in the industrial sector is expected to see a rise in demand for work light.
What is Driving Demand for Work Light?
- Adoption of light sources in the global residential lighting sales has significantly increased.
- Sales have surged due to the growing preference for fluorescent type lights in the residential sector.
- The share of fluorescent lights sales is expected to continue expanding.
- Increasing number of customers prefer fluorescent lights for DIY projects, especially those working at night, further driving market growth.
- The rising need for such lights in commercial construction sites is a key factor driving the market’s growth worldwide.
- LED and fluorescent lights emitting high intensity rays have attracted big construction companies due to their preference.
- Market growth is predicted in response to the rising corporate infrastructure across the globe, acting as a major factor in driving market growth
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One of the key factors driving the worldwide market’s growth is rising need of such lights in commercial construction sites. The rise of LED as well as fluorescent lights that emit high intensity rays has attracted big construction companies for their preference. Furthermore, the market is predicted to grow in response to rising corporate infrastructure across the globe, acting as a major factor in the market growth.
Trend of LED Work Light Likely to Augment Sales
Apart from being more energy-efficient, LED lights to have significantly extended lifetime as compared to that of conventional ones. This has been progressively affecting the market with such lights becoming more and more appealing to the consumers. As renovations and new infrastructures are followed by new installations, preferential purchase of LED work lights has been an important trend observed in recent times.
Furthermore, the increasing preference of people for different coloured LED lights has augmented since the past few years. Not only for industrial and personal use but also people operating in different areas such as fire and emergency service stations, police departments, military operations, etc., are opting for high efficiency LED lights that provide better application than its alternatives. Such various factors have been leading to increase in volume of sales of LED lights at different workplaces.
Some of the leading manufacturers and suppliers of work light include
- ABL Lights Inc.
- Bayco Products Inc.
- Cooper Industries (EATON Corporation)
- Ericson Manufacturing Co.
- Larson Electronics LLC
- Lex Products Corp.
- Luceco plc.
- Streamlight Inc.
- and WF Harris Lighting among others.
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Key Segments
By Product Type:
- Flashlight
- Spotlight
- Clamplight
- Lantern
- Others
By Application:
- Construction
- Industrial
- Residential
- Others
By Operation:
- Battery Operated
- Rechargeable
- Non-Rechargeable
- Plug-in
By Sales Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Wholesalers/Distributors
- Independent Retail Stores
- Online Retailers
- Convenient Stores
- Others
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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