SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "LED Work Lights - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 5; Released: April 2021
Executive Pool: 3446
Companies: 17 - Players covered include ABL Lights Group; BAYCO Products, Inc.; Eaton Corporation PLC; Ericson Manufacturing Company; Larson Electronics LLC; Lex Products; Luceco PLC; Streamlight, Inc.; W.F. Harris Lighting and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Residential, Commercial & Institutional, Industrial); Operation (Battery Operated, Plug-in); Product Type (Flashlight, Spotlight, Lantern, Other Product Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global LED Work Lights Market to Reach $10 Billion by 2026
Amid the COVID-19 crisis, the global market for LED Work Lights estimated at US$8.8 Billion in the year 2020, is projected to reach a revised size of US$10 Billion by 2026, growing at a CAGR of 2% over the analysis period. Battery Operated, one of the segments analyzed in the report, is projected to record a 1.8% CAGR and reach US$7.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plug-in segment is readjusted to a revised 2.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.4 Billion in 2021, While China is Forecast to Reach $1.9 Billion by 2026
The LED Work Lights market in the U.S. is estimated at US$2.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2026 trailing a CAGR of 3.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.3% and 1.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR. More
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SOURCE Global Industry Analysts, Inc.