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How Big is the Opportunity in Construction Sector for Vehicle Mounted Spotlight Manufacturers? New Report Analyzes

Wednesday, 06 January 2021 08:30 AM

FactMR

Key players are focusing on new-fangled products and directing the market by investing in state-of-the-art manufacturing practices and advanced technologies.

DUBAI, UAE / ACCESSWIRE / January 6, 2021 / Fact.MR: The vehicle mounted spotlights market is poised set to grow at over 4% CAGR, according to latest analysis by consulting firm Fact.MR. The market expansion will be driven by progressions in technology as well as wide spread implementation of LED-based spotlights. In the approaching years, extensive implementation of wireless control spotlights to develop snazzy products will create opportunities. However, the COVID-19 pandemic has halted the progress of the overall market.

"Restructuring of product portfolio of offerings of vehicle mounted spotlights is a prominent growth booster of the market." says the Fact.MR report.

Request a report sample to gain comprehensive market insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=5403

Key Takeaways

  • North America is projected to foresee a conspicuous expansion in the market.
  • Wired control type accounts for 77% of overall market share due to its extensive implementation.
  • LED vehicle mounted spotlights will foresee a significant growth pace in contrast to halogen- and HID-based spotlights.
  • Construction end-use segment is anticipated to lead in value terms over the assessment period.

Driving Factors

  • All-weather-proof rugged spotlights which could be utilized in difficult surroundings are anticipated to fuel the market growth.
  • Growing demand for durable, energy-efficient, and higher service life of spot lights, makes LED spotlights a more convenient preference in the global market.
  • Higher demand from the utility and construction sectors will bolster the growth in the market.

Constraints

  • The COVID-19 outbreak adversely impacted the demand due to halting trade and transportation.
  • Strict regulations for mounting the spotlights in the vehicles can impact sales in the market.

Anticipated Market Impact by COVID-19 Outbreak

The COVID-19 pandemic has had a notable negative impact, all over the world, from a business stance. This vehicle mounted spotlights market has also been severely impacted. A substantial fall in the demand is majorly due to the lockdowns implementations by governments in various regions, and holding up transportation and trade from one region to another.

Explore the vehicle mounted spotlights market with 250 figures, 112 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/5403/vehicle-mounted-spotlights-market

Competition Landscape

Key market players identified in the global market are Golight Inc., Whelen Engineering Company Inc., Unity Manufacturing Co., Spartaco LLC, KH Industries Inc., and KC HiLiTES Inc.

Major players are engaged in product launches and advancements to address growing need for advanced vehicle mounted spotlights. Extension of product portfolio, incorporating revamping and restructuring of distribution channels, is anticipated to notably influence the market growth.

More on the Report

The Fact.MR's market research report provides in-depth insights into the vehicle mounted spotlights market. The market is scrutinized based on light source (LED, HID, halogen, and incandescent), wattage (below 25W, 25-50W, 50-100W, 100-150W, and above 150W), lumens (below 25000 lumens, 2500-5000 lumens, 5000-10000 lumens, and above 10000 Lumens), control type (wired, wireless, and hybrid), module shape (round/oval and square/rectangle), end use (construction, agriculture, utility, and industrial), and sales channel (direct-to-customer, third-party online channels, specialty stores, and modern trade channels), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

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About Fact.MR

Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, and has offices in Dubai. Fact.MR's latest market research reports industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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SOURCE: Fact.MR

Topic:
Company Update
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