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Global Market Research Study on Flashlight Industry to grow at a value CAGR of 6.6% By 2025
The flashlight market has been experiencing steady growth during the 2012-2016 timeline. It is projected to grow at a value CAGR of 6.6% throughout the period of assessment, to reach a market value of around US$ 8.2 Bn by end of 2025


MRRS
BriefingWire.com, 11/14/2017 - According to this research report, the global flashlight market is anticipated to grow at a robust rate to reach a significant value by the end of the year of assessment. The flashlight market has been experiencing steady growth during the 2012-2016 timeline. It is projected to grow at a value CAGR of 6.6% throughout the period of assessment, to reach a market value of around US$ 8.2 Bn by end of 2025 from a market valuation of about US$ 4.9 Bn in 2017. The growth of the flashlight market can be attributed to the rising demand for explosion proof LED flashlights, growing demand for durable, efficient and low maintenance flashlight, increasing innovation in flashlight products for outdoor recreation activities, augmented penetration of LED technology, rising demand for flashlights in the oil and gas industry and rising demand for rechargeable LED flashlight. According to this research, the flashlight manufacturers can focus on expanding their businesses across countries in APAC and North America regions where there is an increase in demand for innovative flashlights such as tactical, professional and outdoor flashlights.

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Construction and auto repairing to glue its dominance across the application category

Construction and auto repairing segment is expected to dominate the global flashlight market by application in the coming years. This scenario is likely to happen owing to its continued increase in market value since 2016. In 2017 this segment stood at about US$ 1.3 Bn and is estimated to rise to reach a valuation of about US$ 2.2 Bn in 2025. The 1.7x increase in revenue can be attributed to a high CAGR of 6.3% during the assessment period 2017-2025.

Close call to make between home inspection and homeland security segments

Home land security segment by application type is estimated to reach a value of about US$ 1.8 Bn by the end of 2025. It is projected to grow at a high CAGR of 6.9% during 2017-2025 assessment period. On the other hand, the home inspection application type segment is expected to be the fastest growing segment and poised to grow at a CAGR of 7.2% throughout the period of forecast. The valuation of this segment by 2025 end is slightly less than that of the homeland security segment, however, it is likely to show higher lucrativeness in the coming years.

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