In 2018, the global LED work light market sold nearly 1 million units, and PMR released a new research report on the LED work light market. According to research, the LED work light market is expected to grow at a compound annual growth rate of 3.5% by 2029. Consumers’ preference for high-efficiency and low-maintenance products is expected to promote the development of the LED work light market.
According to the analysis, the end users of industrial, commercial and residential lighting systems have always expected the lighting products they use to have high efficiency, quality, longevity, durability and lower maintenance requirements. This has promoted the growth of the LED work light market.
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In addition, factors such as portability and ergonomic design are expected to drive consumer demand and promote the growth of the LED work light market by 2029. In 2018, the global LED work light market was valued at 9 billion U.S. dollars, and it is estimated that the LED work light market will reach 13.3 billion U.S. dollars by the end of 2029.
The advanced features of LED work lights enable users to remotely control the lights. This is achieved through the use of digital communications with embedded sensors in LED lighting and control. This will promote the development of integrated lighting networks, thereby driving a surge in demand for LED work lights. In addition, LED work lights are insensitive to vibrations and provide better lighting, so they can be implemented in industries with severe vibrations where traditional lighting solutions are not feasible.
According to PMR research, major players in the LED work light market are offering a variety of products with advanced features, such as battery-powered LED work lights. In addition, a large number of manufacturers have fully invested in new features, such as LED work lights with sensors that can monitor temperature and energy usage; subsequently, the LED work lights market is surging.
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According to the forecast of the US Department of Energy (US Department of Energy), LED is expected to reduce lighting energy consumption by 15% to 20%. With these in mind, regulatory requirements are enforced by government authorities. Strict regulations and standards related to energy efficiency, including bans on low-efficiency technologies, are accelerating the adoption rate of LED work lights.
Regulatory intervention is a key driver for the acceptance of LED technology. Due to environmental protection measures and planned global incandescent lamp elimination, the replacement range will bring substantial growth to the LED work light market during the forecast period.
PMR’s business analysis also highlights groundbreaking insights into the competition scenarios of the LED work light market and the strategies of key market participants. Some of the major players in the market are ABL Lights Inc., Bayco Products Inc., Cooper Industries (Eaton), and Larson Electronics LLC. LED work light manufacturers have been focusing on establishing a fast and more efficient sales and distribution infrastructure for their products across regions. They are providing price incentives for online purchases.
In addition, several major players in the LED work light market are adopting various strategies related to consumer demand, such as new product launches, significant developments in research and development, to enhance their product portfolio and upgrade their products in terms of technology.
For example, in November 2014, Larson Electronics LLC, a manufacturer of industrial lighting and power distribution products located in Texas, USA, launched a new portable explosion-proof LED work light suitable for low-voltage operation. This product is very suitable for illuminating enclosed areas and hazardous locations
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