According to a new market report published by Credence Research Inc., “Global Flashlight Market (By Light Source (Incandescent, Light Emitting Diode (LED), and High Intensity Discharge (HID)), By Sales Channel (Direct Retail, Online, and OEM), By End-use Application (Consumer or Household, Industrial and Commercial, Defense & Public Safety, and Government)) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025”, the global flashlight market is expected to witness a growth of 6.1% CAGR during the forecast period 2017 – 2025.
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A flashlight is a portable hand-held electric device used to provide illumination for safety purpose. The source of light is generally a light-emitting diode (LED) or incandescent light bulb. A flashlight unit consists of a light source mounted in a reflector, a protective cover, a switch, and battery/capacitor.
With the advancements in technology, flashlights have become more durable, chemical resistant, and efficient, thereby expanding their usage across wide range of application domains. Flashlights used in marine, industrial, military, and public safety applications need to meet specifications in terms of light output, battery compatibility, dimensions, durability, and resistance to impact, chemicals and water.
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In terms of light source, LED flashlights are presumed to offer better investment opportunities than other variants. Over the last few years, the lighting industry has been witnessing a paradigm shift from conventional incandescent light source to relatively more energy efficient light emitting diodes.
Growing awareness regarding the benefits offered by the LED technology coupled with anticipated reduction in price is expected to drive adoption of the LED technology in flashlights.
Some of the major and established players identified in the global flashlight market include Mag Instrument Inc., Dorcy International Inc., SureFire, LLC, Streamlight Inc., Larson Electronics LLC, Browning Arms Company, Pelican Products, Inc., Bayco Products Inc., Nite Ize Inc, and Energizer Holdings, Inc. among others.
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The global flashlight market also encompasses large number of small and domestic players accounting for marginal market share individually. Flashlights being a commodity, the global market for flashlights is matured and marred by lack of product differentiation.
This has led to profit crunching on account of pricing wars among manufacturers. Thus, lack of product differentiation is the major challenge inhibiting the growth of flashlights market. Thus, focus on product enhancement/innovation remains the cut-throat strategy for manufacturers.
In addition, since considerable portion of flashlight sales is also through contracts to defense, public safety, and government agencies, manufacturers are focused on ensuring long term association with the government and federal agencies.
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