The latest report by IMARC Group, titled “LED Flood Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” provides a detailed analysis of the global LED flood light market. LED flood lights represent one of the most popular types of outdoor lighting options. They consume less energy and offer higher illumination as compared to other lighting products as compared to incandescent and fluorescent flood lights. They are made of sturdy material which can endure extreme temperatures and harsh weather conditions. LED flood lights come in a large number of colours and designs so as to suit the requirements of consumers, which can range from providing stage lighting at theatres to lighting up a parking lot.
LED flood lights last longer than conventional lighting options with an average life of around 50,000 hours, as a result of the LEDs used in them. This eliminates the need for frequent bulb replacement and, therefore, helps save costs in spaces where replacing the lights is not a viable option. The heat emanated by LED flood lights is also relatively very low which eliminates the risk of accidental fires and makes them perfect for use in temperature-sensitive environments such as cold storage warehouses. The awareness regarding LEDs has led to an increasing number of people using LED flood lights for outdoor applications in order to save electricity costs. Moreover, the use of LED flood lights is also being encouraged by the governments of various countries as a measure for sustainable development. These factors have been stimulating the growth of the global LED flood light market.
The report has examined the market on the basis of major applications. Some of the key applications of LED flood lights include industrial lighting, commercial lighting, recreational and parking areas lighting, architectural lighting and building facades lighting. The report has also analysed the market on the basis of product type covering the various shapes, sizes and design material alternatives. Some of the popular shapes include square, rectangular, designs with rotatable or tiltable brackets, designs with Tenon mount brackets/pole mount brackets and designs with box mount adapter. The report has further segmented the market on the basis of key regions. Some of the key regions include Asia Pacific, Europe, Latin America, Middle East, Africa and North America. On analysing the competitive landscape, the report finds that the market is highly competitive with a number of global and local players.
The report provides a detailed roadmap for setting up an LED flood light manufacturing plant. The study covers all the essential aspects of the LED flood light market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. The report also provides SWOT, Value Chain and Porter’s Five Forces analysis. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED flood light market in any manner.
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