Dublin, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The "Cordless Jobsite Lights Market - Global Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Cordless Jobsite Lights Market was valued at USD 1.02 billion in 2023, and is projected to reach USD 1.42 billion by 2029, rising at a CAGR of 5.67%.
The global cordless jobsite lights market is fragmented owing to the existence of local and global players. Stanley Black & Decker, Robert Bosch, TTI, Makita, and SCANGRIP, among others, are the few prominent vendors in the cordless jobsite lights market.
The market is highly clustered in developed regions like North America and Europe. In contrast, it is emerging in developing economies, such as China and India in the APAC region.
International vendors are increasing their footprint, which causes difficulties for regional vendors in competing with them, especially in terms of technology and consumer base. Therefore, vendors must expand their geographical presence while reviving domestic demand to stay competitive in the cordless jobsite lights market landscape.
MARKET TRENDS & DRIVERS
Growing Inclination Toward Sustainability
LED cordless job site lights are in high demand in the cordless jobsite lights market due to a global shift toward sustainability, and environmental concerns are gaining momentum. LED lights have longer lifespans and use less energy, reducing the number of times bulbs need to be replaced, thus reducing the overall carbon emissions from lighting on construction sites. Less power consumption is required to produce the same or even higher brightness levels with LED, unlike conventional lighting options like incandescent bulbs, halogen lamps, or fluorescent tubes.
For instance, MILWAUKEE offers LED site lights, which provide full-day runtime in portable packages. The lights utilize the most advanced lighting technology to deliver a consistent beam, optimized color temperature, and true representation of colors and detail, leading to a more productive work area.
Expansion of Rechargeable Jobsite Lights Market
High-quality rechargeable light bulbs with advanced battery technologies are becoming increasingly popular in the global cordless jobsite lights market. They last longer than conventional lighting solutions, with usable hours ranging from 10,000 and beyond. This improvement shows that fewer replacements will be needed, as is the trend with the normal bulbs. This is due to the increased usage of advanced Li-Ion batteries that perform better than the previous ones. Such batteries perform many charge and discharge cycles without the main deterioration of their ability to perform effectively.
For instance, Milwaukee's M18 ROCKET Tower light provides up to 10,000 hours of reliable light. Its M18 batteries support extended runtime and sustained brightness, while their efficient charging and discharging cycles minimize downtime and ensure that the light remains operational for extended periods. Hence, such factors are propelling the growth of rechargeable cordless jobsite lights.
GEOGRAPHICAL ANALYSIS
The North American region dominates the global cordless jobsite lights market due to ongoing infrastructure projects, technological advancements, and stringent workplace safety regulations that propel the growth. In 2023, North America held over 37% of the global cordless jobsite lights market share.
Furthermore, the region promises to maintain its position during the forecast period, with revenue mostly generated from the U.S., the largest economy in the region. North America is home to numerous large industries, including the automobile, construction, aerospace, electronics, and packaging. With growing construction, it is expected that the cordless jobsite lights market is likely to grow at a substantial growth rate during the forecast period.
Europe holds a significant position in the global cordless jobsite lights market. The major markets in Europe include the U.K., Germany, Italy, Spain, and France. Other markets, such as the Netherlands and Belgium, are expected to be promising due to the rising industrial growth. The increasing expenditure of consumers on home improvement, renovation, and remodeling is primarily driving the market for jobsites lights in the region.
Moreover, APAC is growing at the highest CAGR in the global cordless jobsite lights market during the forecast period because of the increasing large-scale construction and mining industry in countries like China, Japan, and India. APAC is expected to witness exponential growth in the market during the forecast period due to the growing residential construction activities. The region also has a few significant companies in the market, including Stanely Black & Decker, TTI, and many others.
VENDORS LANDSCAPE
Key Company Profiles
- Stanley Black & Decker
- Robert Bosch
- Techtronic Industries
Other Prominent Vendors
- Makita
- Emerson Electric Co.
- Koki Holdings Co.
- Hilti
- CHERVON
- Einhell
- Snap-on Incorporated
- POSITEC
- SCANGRIP (Hultafors Group)
- MasterForce
- Foshan Electrical and Lighting Co., Ltd.
- APS Lighting & Safety (Vignal Group)
- GENTOS Co, Ltd.
- Feit Electric
- GROZ
- Silverline
- VonHaus (Domu Brands Ltd)
- Streamlight Inc.
- Klein Tools
- Bayco Products, Inc.
- CK Tools
- VARTA AG
- Philips
- Eaton
- Triton Intertech
- Dorcy
- NITECORE
KEY QUESTIONS ANSWERED
- How big is the global cordless jobsite lights market?
- Which region dominates the global cordless jobsite lights market share?
- What are the significant trends in the cordless jobsite lights industry?
- What is the growth rate of the global cordless jobsite lights market?
- Who are the key players in the global cordless jobsite lights market?
Key Attributes:
Report Attribute | Details |
No. of Pages | 343 |
Forecast Period | 2023 - 2029 |
Estimated Market Value (USD) in 2023 | $1.02 Billion |
Forecasted Market Value (USD) by 2029 | $1.42 Billion |
Compound Annual Growth Rate | 5.6% |
Regions Covered | Global |
Key Topics Covered:
1. Scope & Coverage
2. Premium Insights
3. Market at a Glance
4. Introduction
4.1. Overview
4.2. Consumer Preference
4.3. Led vs Conventional Cordless Jobsite Lights
4.4. Market Dynamics in APAC
4.5. Favourable Government Policies
4.5.1. North America
4.5.2. Europe
4.5.3. APAC
4.5.4. Latin America
4.5.5. Middle East & Africa
4.6. Value Chain Analysis
4.6.1. Raw Materials & Component Suppliers
4.6.2. Manufacturers
4.6.3. Dealers / Distributors
4.6.4. Retailers
4.6.5. End-users
5. Market Opportunities & Trends
5.1. Emerging Led Technology
5.2. Expansion of Rechargeable Jobsite Lights Market
5.3. Increasing Advancements in Li-On Batteries
6. Market Growth Enablers
6.1. Growing Inclination Toward Sustainability
6.2. Consistent Growth in Commercial Construction Industry
6.3. Increased Focus Toward Workers' Safety
7. Market Restraints
7.1. Fluctuations in Raw Materials Prices
7.2. High Competition & Price Sensitivity
7.3. Rising Costs of Led Cordless Jobsite Lights
8. Market Landscape
8.1. Market Size & Forecast
8.2. Five Forces Analysis
9. Product Type
9.1. Market Snapshot & Growth Engine
9.2. Market Overview
9.3. Flood Light
9.4. Area Light
9.5. Tower Light
9.6. Spotlight
9.7. Flashlight
9.8. Others
10. Technology
10.1. Market Snapshot & Growth Engine
10.2. Market Overview
10.3. Conventional
10.4. Led
11. Lumens Type
11.1. Market Snapshot & Growth Engine
11.2. Market Overview
11.3. Below 500 Lm
11.4. 500-2000 Lm
11.5. Above 2000 Lm
12. Operational Type
12.1. Market Snapshot & Growth Engine
12.2. Market Overview
12.3. Rechargeable
12.4. Non-Rechargeable
13. End-users
13.1. Market Snapshot & Growth Engine
13.2. Market Overview
13.3. Construction
13.4. Oil & Gas
13.5. Mining
13.6. Manufacturing Industry
13.7. Military & Defense
13.8. Outdoor & Sports Events
13.9. Other End-users
14. Geography
14.1. Market Snapshot & Growth Engine
14.2. Geographic Overview
15. North America
16. Europe
17. APAC
18. Latin America
19. Middle East & Africa
20. Competitive Landscape
20.1. Competition Overview
21. Key Company Profiles
21.1. Stanley Black & Decker
21.2. Robert Bosch
21.3. Techtronic Industries
22. Other Prominent Vendors
22.1. Makita
22.2. Emerson Electric Co.
22.3. Koki Holdings Co. Ltd.
22.4. Hilti
22.5. Chervon
22.6. Einhell
22.7. Snap-On Incorporated
22.8. Positec
22.9. Scangrip (Hultafors Group)
22.10. Masterforce
22.11. Foshan Electrical and Lighting Co. Ltd.
22.12. Aps Lighting & Safety (Vignal Group)
22.13. Gentos Co. Ltd.
22.14. Feit Electric
22.15. Groz
22.16. Silverline
22.17. Vonhaus (Domu Brands Ltd.)
22.18. Streamlight Inc.
22.19. Klein Tools
22.20. Bayco Products Inc.
22.21. Ck Tools
22.22. Varta AG
22.23. Philips
22.24. Eaton
22.25. Triton Intertech
22.26. Dorcy International Inc.
22.27. Nitecore
For more information about this report visit https://www.researchandmarkets.com/r/5jp18v
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