South America LED Flashlight Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Rechargeable and Non-Rechargeable), Product (Safety Flashlights, Everyday Carry Flashlights, and Tactical Flashlights), and Application (Personal, Commercial & Industrial, and Military and Law Enforcement)
The SAM LED flashlight market is expected to grow from US$ 35.6 million in 2019 to US$ 43.0 million by 2027; it is estimated to grow at a CAGR of 2.5% from 2020 to 2027.
Increasing preference for energy-efficient and nonconventional lighting solutions drives the growth of the SAM LED flashlight market. Incandescent bulbs comprising glowing tungsten filaments are conventional flashlights, whereas light emitting diode (LED) flashlights consist of solid-state semiconductor sources that emit 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 long life span. The cost of these flashlights has been reduced due to technological evolution over the years and supportive government initiatives across SAM. Due to their multiple-usage and environment-friendly features, LEDs are becoming efficient substitutes for incandescent and halogen-based lighting solutions. Government regulations in SAM 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 SAM LED flashlight market. The growing demand for tactical LED flashlights due to their small size and rugged material is also expected to drive the growth of the SAM LED flashlight market during the forecast period.
The COVID-19 pandemic crisis is adversely affecting the countries across SAM, especially Brazil. SAM is a developing region with the presence of many emerging nations, which makes it a lucrative market for LED flashlight players. The developing countries in SAM have growing population, rising disposable income, growing investments in the education sector, and rising number of tech-savvy students. The governments of various countries in SAM are taking several initiatives—such as lockdowns, trade bans, and travel restrictions—to protect people and contain the spread of the novel coronavirus across the region. These measures are hindering the region’s economic growth due to decline in export revenues as there is drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. Brazil, Peru, Chile, Ecuador, and Argentina reported a high number of COVID-19 confirmed cases and deaths. The pandemic crisis and restrictive measures taken by governments, such as the closure of manufacturing units, to restrict the outbreak are restraining the growth of the SAM LED flashlight market.
Based on type, the non-rechargeable segment led the SAM LED flashlight market in 2019. The non-rechargeable LED flashlights use disposable batteries.. However, the non-rechargeable LEDs have a shorter lifespan than rechargeable LEDs. Disposable batteries are made of heavy metals and corrosive materials. The non-rechargeable LED light batteries are composed of mercury and other toxic chemicals; thus, these batteries cannot be recycled. These flashlights are inexpensive than rechargeable LEDs, and are mostly used in low-temperature environments; these advantages drive the growth of the SAM LED flashlight market.
The overall SAM 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 SAM 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 SAM LED flashlight market. Bayco Products Inc.; Coast Products; ENERGIZER HOLDINGS, INC.; Pelican Products, Inc.; and Streamlight Inc. are a few players operating in the market.
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