The Europe LED flashlight market is expected to grow from US$ 434.8 million in 2019 to US$ 580.3 million by 2027; it is estimated to grow at a CAGR of 3.8 % from 2020 to 2027.
Rising demand for tactical light emitting diode (LED) flashlights due to small size and rugged material drives the growth of the Europe LED flashlight market. Growing military spending across the region boosts the adoption of technologically advanced equipment such as tactical LED flashlights. The tactical LED flashlights meet high-quality standards as they are made of rugged materials. Aircraft-grade aluminum is the main raw material used in flashlight manufacturing; it makes these lights waterproof, long-lasting, and shockproof, and allows manufacturers to keep their size small. Tactical flashlights are robustly used across the military and law enforcement sector, jungle hiking, coal mines, and hunting. Owing to the ruggedness of materials, flashlights can be attached to any weapon. Simple flashlights, which have been used in military applications, comprise a multifunctional tool used in various hazardous situations. However, tactical flashlights have a rechargeable battery backup of up to 48 hours and a greater capacity of at least 500 lumen. Due to its small size, these flashlights are used for self-defense by disabling the vision of an attacker at night. The tactical LED flashlights can be attached to any weapon as they are waterproof and made of rugged materials. Therefore, their demand would increase in the coming years. Also, the growing penetration of LED lighting and increasing support by governments are expected to drive the Europe LED flashlight market during the forecast period.
The COVID-19 pandemic is adversely affecting countries in Europe, especially the UK and Russia. Europe is one of the key regions for the growth of the LED flashlight market as it comprises many developed countries such as Germany, the UK, France, Italy, Norway, and Sweden, where military spending is relatively higher than other regions coupled with increased investments in LED flashlight manufacturing startups. Also, the rising adoption of advanced technological solutions in various industries makes this region an ideal market for the growth of the LED flashlight market. Businesses in the region are facing severe economic difficulties as they are suspending their operations or substantially reducing their activities. Governments are imposing lockdowns and putting restrictions on movements and manufacturing activities across Europe to contain the novel coronavirus outbreak. These factors are hampering the supply and demand of LED flashlights, which is restraining the Europe LED flashlight market.
Based on product, the everyday carry flashlights segment led the Europe LED flashlight market in 2019. Everyday carry flashlights feature low to medium lumen range. These are available in compact, and pen- and medium-size variants with low to medium battery capacity. A majority of these LED flashlights is offered with standard housing, while a few are offered in rugged housing with waterproof capabilities. The demand for everyday carry flashlights is rising due to increasing adoption and retrofitting of electronics and other appliances in the industrial, commercial, and residential sectors as well as high integration of these flashlights in toys. Additionally, the surging frequency of blackouts and power cuts at remote locations bolster the adoption of these LED flashlights across the region. Therefore, the demand for LED flashlights is expected to increase in the coming years, which will drive the Europe LED flashlight market.
The overall Europe LED flashlight market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe LED flashlight market. The process also serves the purpose of obtaining an overview and forecast for the market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, LED flashlight market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe LED flashlight market. Bayco Products Inc.; Browning; Coast Products; Dorcy International, Inc.; Duracell Inc.; ENERGIZER HOLDINGS, INC.; Ledlenser GmbH & Co. KG; Mag Instrument Inc.; Pelican Products, Inc.; Streamlight Inc.; and Surefire LLC are a few players operating in the market.