The MEA LED flashlight market is expected to grow from US$ 72.4 million in 2019 to US$ 91.1 million by 2027; it is estimated to grow at a CAGR of 3.0 % from 2020 to 2027.
Increasing use of light emitting diode (LED) flashlights in hazardous industrial environments drives the growth of the MEA LED flashlight market. Increasing preference for energy-efficient and nonconventional lighting accelerates the demand for LED flashlights across the MEA. Incandescent bulbs comprising glowing tungsten filaments are conventional flashlights, whereas LED flashlights consist of solid-state semiconductor source that emits light. The efficiency and performance of LED flashlights are far superior to conventional counterparts. LEDs offer a few benefits such as high brightness, less power consumption, and a long life span. The cost of these flashlights has been reduced due to technological evolution over the years and supportive government initiatives across the MEA. Due to their multiple-usage and environment-friendly features, LEDs are becoming efficient substitutes for incandescent and halogen-based lighting solutions. Government regulations in the MEA promote the importance of energy efficiency and create awareness among end users. The rising demand for better and efficient lighting systems, and increasing awareness to save energy bolster the growth of the MEA LED flashlight market. The adoption of LED flashlights over traditional flashlights and use of LED flashlights in unsafe industrial environments are expected to drive the MEA LED flashlight market during the forecast period.
The COVID-19 pandemic crisis is adversely affecting the countries across the MEA, especially Saudi Arabia. The MEA comprises many developed economies such as the UAE, which are the prospective markets for LED flashlight providers owing to the huge presence of diverse customer base. The global COVID-19 pandemic is hindering global economies, but the economy of MEA is witnessing downturn due to falling oil prices in oil-based countries. In addition, the factory lockdowns, business shutdowns, and travel bans are further hindering the economic growth of countries in the region. More than 70% of the UAE’s population comprises foreign citizens, such as workers employed in mega-infrastructure projects. The decline in the MEA’s economic condition and the impact of COVID-19 pandemic on the growth of various industries across the region is restraining the growth of the MEA LED flashlight market, and it is likely to continue in 2021.
Based on product, the tactical flashlights segment is expected to grow at the highest CAGR during the forecast period. Tactical flashlights are also known as heavy-duty flashlights as they feature rugged housing, waterproof and shockproof design, massive battery life and other additional capabilities. These flashlights are widely used by armed forces owing to its compact size, lightweight, weapon mounting, and eye strobing capabilities. The growing number of surgical operations by the armed forces and continuously increasing defense budgets of various countries across the MEA contribute to the MEA market growth for the tactical flashlight segment. The rising number of extreme adventure expeditions; growing inclination toward safety and security protocols at board checkpoints, airports, and seaports; and the emergence of private mercenaries would increase the adoption of tactical flashlights across MEA in the coming years. A few advantages of tactical flashlights such as compact size, waterproof, and shockproof are expected to drive the growth of the MEA LED flashlight market during the forecast period.
The overall MEA 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 MEA 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 MEA LED flashlight market. Bayco Products Inc.; Coast Products; Duracell Inc.; ENERGIZER HOLDINGS, INC.; Streamlight Inc.; and Surefire LLC are a few players operating in the market.