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Lewes, DE -- (SBWIRE) -- 09/07/2018 -- United States consumption of portable LED lanterns reached an estimated $46.18 million in 2017
Publisher Consultants, a leading market and technology forecast firm covering photonic and electronic devices, today announced the findings of their market research study of the use of LED-based lanterns in the United States.
According to the study, the consumption value of LED lanterns in the United States reached an estimated $46.18 million last year. Overall consumption value is forecast to increase with rising volume (quantity) growth partially offset by overall declining average selling prices.
Publisher's definition of LED lanterns: portable, lightweight and easily handled with one-hand, electric-powered LED light source, which provides 360-degree illumination from the base unit. "The primary power source of a lantern is disposable or rechargeable batteries; however, by a lesser extent, power sources also include – ultra-capacitors, solar power panels, and hand-powered dynamos and even saltwater," said Stephen Montgomery, president of Publisher.
In terms of volume (quantity) of LED lanterns is forecasted to increase from less than 180 million units in 2017 to nearly 210 million units in 2027 in the United States alone. Market forecast data in the study refers to consumption for a particular calendar year; therefore, the data is not cumulative data.
The market forecast is segmented by the sales channel of providing the lanterns to the end-user, either from general merchandisers (in store or via the Internet) or from the specialty merchandisers (in store or via the Internet). The fastest growth is expected from specialty merchandisers, such as sporting goods (camping and hiking) and DIY (do-it-yourself) hardware/home improvement stores.
"Since the market opportunity for lanterns continues to evolve, through the marketing push by manufacturers to differentiate from each other to achieve increasing revenue, there is a need to explore technology-driven solutions. The relationship of cost of materials, along with the end-user price-points, are important considerations for lantern manufacturers, in finding ways to differentiate from your competitors," Montgomery added.
This report provides a market analysis and forecast of the use of (light emitting diode) LED-based lanterns used in the United States of America.
Publisher's definition of LED lanterns: portable, lightweight and easily handled with one-hand, electric-powered LED light source, which provides 360-degree illumination from the base unit. The primary power source of a lantern is disposable or rechargeable batteries; however, by a lesser extent, power sources also include – ultra-capacitors, solar power panels, and hand-powered dynamos and even saltwater.
Market Forecast – Sales Channels
This market forecast of lanterns, segmented by the following sales channels:
Specialty Retail (Internet and In-Store) –
DIY/Hardware, Office Supply, Pharmacy, and Sporting/Guns, Other Specialty
REI Sports, Walgreens, Home Depot, Ace Hardware, and True Value, Lowes, Menards, Office Depot, Radio Shack, Others
General Retail (Internet and In-Store)
General-Purpose/Variety and Grocery/Supermarkets
Walmart, Target, Costco, Safeway, Sears, Amazon, Alibaba, eBay, QVC, Others
Market Forecast, By Function
This report provides the 2017 market data review and 2018-2027 forecast for lanterns by the following functions:
Average Selling Prices (ASP)
The consumption value is determined by multiplying the number of units by the average selling price. The average selling prices are based on the price of the lantern, including recharging components, which are built-into the lantern; however not including the batteries and external recharging units.
The average selling prices (ASPs), presented in this report, are not retail prices; they are based on the price of the lantern at the initial factory level. These prices are typically based on the price to (major) distributors and (large) direct sale entities. Pricing assumes orders / purchase / assessments based on large "lots" and full-year of multiple quarter or year buying arrangements.
The report presents profiles of selected companies or brands, as well as market share estimates of the companies/brands that we consider the market leaders.
Since the market opportunity for lanterns continues to evolve, through the "marketing push" by manufacturers to differentiate from each other to achieve increasing revenue, there is a need to explore technology-driven solutions addressing, but not limited to the list shown below. The relationship of cost of materials, along with the end-user price-points, are important considerations for lantern manufacturers; however, there are many other items of interest to consider in finding ways to differentiate from your competitors.
Casing: Durable/stronger and/or lighter material, design/color, other
Circuit, Contact, Interior Parts, Switch: energy-efficiency, spark-proof, durability
Reflector and/or Diffuser: Durable, designs to increase reflectance and lumen/brightness, other
Light Source: Durable, size, lumen/brightness, energy-efficiency, spark-proof, life-capacity (hours); Supplier of LEDs, other
Recharging Interface: Integration design from lantern to recharge unit, material, size, durability, other
Multiple-year product-use guarantee/warranty
Market Research Methodology
Market analysis and technology forecasting are complex tasks. Any predictions of the shape and trends of technology and economic movement start from the notion that the germ of what will be important tomorrow is present, although smaller or larger or in a different form, in our environment today. However, taking as a basis for a prediction the assumptions of current, conventional belief creates a set of preconceived notions that can lead to serious mistakes. Publisher, instead, looks to the basic driving forces.
The future market for a particular type of LED lantern consumed in the United States depends on a number of factors, including: User equipment demand, back-up lighting due to power failures, various work-related tasks and recreational purposes, as well in conjunction with extreme weather and rough handling and various other circumstances.
This study is based on analysis of information obtained continually over the past several years, but updated through the middle of July 2018. During this period, Publisher analysts performed interviews with authoritative and representative individuals in both the LED lantern and flashlight manufactures and brand distributors, as well as LED manufacturing (materials, chips, packaging, devices, associated parts/pieces, fittings/fixtures, driver boards, and other), as well as power sources (batteries and other technologies).
The interviews were conducted principally with:
Engineers, marketing personnel and management at manufacturers of LEDs, other light source technologies, as well as lantern material (plastic, metal, other) package design and reflective optics
Design group leaders, engineers, marketing personnel and market planners at major users and potential users and distributors of LEDs, other light sources, lanterns/flashlights and power sources
The interviews covered issues of technology, R&D support, pricing, contract size, reliability, documentation, installation/maintenance crafts, standards, supplier competition/market shares and other topics.
Customer (purchase decision-makers and purchase influence/consultants) and distributors also were interviewed, to obtain their estimates of quantities received and average prices paid. Customer estimates of historical and expected near term future growth of their application are obtained. Their views of use of new technology products were obtained.
The analyst then considered customer expectations of near term growth in their application, plus forecasted economic payback of investment, technology trends and changes in recreational (leisure) activities in the United States, to derive estimated growth rates of quantity and price of LED lanterns. These forecasted growth rates are combined with the estimated baseline data to obtain the long-range forecasts at the lowest detailed level of each product and application.
A full review of published information was also performed to supplement information obtained through interviews. The following sources were reviewed:
Professional technical journals and papers
Trade press articles
Technical conference proceedings
Company profile and financial information
Additional information based on previous Publisher market studies
Personal knowledge of the research team
Spanning over 132 pages "LED Lanterns - USA Market Forecast" report covers Executive Summary, U.S.A. LED Lantern Market Forecast, LED Lantern Companies/Brands, Market Research Methodology.
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