Outdoor Lantern Trends and Forecast
The future of the global outdoor lantern market looks promising with opportunities in the outdoor specialty store, supermarket, and online channel markets. The global outdoor lantern market is expected to grow with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are increasing demand for energy-efficient lighting solutions, government efforts encouraging the adoption of sustainable practices, and rising demand for aesthetic and functional outdoor lighting.
• Lucintel forecasts that, within the type category, LED lantern is expected to witness the highest growth over the forecast period due to its energy efficiency and cost-effectiveness.
• Within this application category, online channel segment is expected to witness the highest growth due to increasingly inclination towards online retailers for their outdoor lantern purchases.
• In terms of regions, North America is expected to witness the highest growth over the forecast period due to rapid urbanization and infrastructural development and growing focus towards outdoor living spaces in this region.
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Emerging Trends in the Outdoor Lantern Market
In recent years, outdoor lanterns have undergone transformative shifts. The trends may be related to the following changes taking place technological advancements, increased emphasis on sustainability, and changing consumer preferences:
• Integration of Smart Technology: Modern outdoor lanterns increasingly allow for control from mobile devices and integrate with various smart home systems. Such developments provide convenience by enabling adjustments to the lighting based on individual needs and time; thus, motion and brightness sensors can be incorporated to reduce energy expenses.
• Increased Use of Eco-friendly Materials: There is a recent increase in the production of outdoor lanterns that utilize eco-friendly materials. The benefits of using recycled materials predominantly focus on sustainable development. This trend is driven not only by shareholdersÄX%$%X concerns but also by the demands of consumers for greener products.
• Increased Use of Solar Powered Outdoor Lanterns: Lanterns that derive their power from solar energy have become popular, primarily because they are energy-efficient and can be used without being plugged into a mains power outlet. Recent improvements in solar technology have made batteries last longer and perform better than before, making solar lanterns ideal for many settings, ranging from backyards to remote areas.
• Greater Durability: There is an increased effort among manufacturers of outdoor lanterns to improve their durability against harsh climatic conditions. Developments include enhancements in waterproofing features, anti-UV designs, and durable materials to extend the lifespans of outdoor lanterns. This trend is especially useful in areas with extreme weather patterns.
• New Designs: Currently, the design of modern outdoor lanterns is evolving, focusing on aesthetics and usability. Trends include simplified lines, the use of modular systems, and the adaptation of traditional structures into modern designs. This pattern of design evolution accommodates varied consumer preferences and enhances the aesthetics of outdoor spaces.
At the same time, these global trends aim to design outdoor lanterns in more sustainable and eco-friendly ways while developing new technologies. The integration of smart features and the use of green materials allow for greater efficiency and ornamental designs in outdoor lighting.
Recent Developments in the Outdoor Lantern Market
It may seem that more and more outdoor lanterns are becoming infused with smart technology, as present outdoor lanterns allow people to operate the lights using an application and take advantage of smart home features. So far, this development reduces the effort users have to exert and enables them to personalize their lighting interactions, enhancing the efficiency and effectiveness of outdoor lighting products and solutions.
• Solar Power Advancements: The use of solar power in outdoor lanterns is becoming widespread. With improvements in solar technology, battery life has been optimized, and power periods have been extended. Solar-powered lanterns provide an eco-friendly alternative to electric lanterns, minimizing dependency on grid power and cutting back on electricity bills.
• Design Innovations: These lanterns are also designed in contemporary styles that are both valuable and functional, based on their place of usage and modern trends. Depending on the trends, they include minimalism with proper proportions, custom features, and a mix of classical and contemporary styles. This approach to decoration meets the requirements of people from different market segments and improves the use of urban spaces.
• Durability Enhancements: Construction techniques and the quality of materials used in outdoor and garden lanterns have improved. The best outdoor lanterns available today are designed to endure weather conditions, including high temperatures, rain, snow, and other harsh elements. Such durability ensures that these products last longer and remain effective across different countries.
• Sustainability Focus: There is a growing demand for outdoor lanterns that use eco-friendly materials. Manufacturers are adopting low-impact practices in their production processes, such as using recyclable materials and generating less waste. This focus aligns with customer needs for environmentally friendly products and the broader vision for sustainability in society.
These changes are being witnessed in the outdoor lantern market in terms of improved functionality, sustainability, and enhanced design. With advancements in technology and materials, outdoor lanterns are becoming more effective, longer-lasting, and more attractive, thereby catering to the modern market.
Strategic Growth Opportunities for Outdoor Lantern Market
There are a few strategic growth opportunities available in the outdoor lantern market related to some key applications. These opportunities resonate with broader developments and changing consumer preferences:
• Residential Outdoor Lighting: There is huge scope for growth in the residential segment as the trend of outdoor living gains popularity. Buyers seek attractive and functional lighting features for their gardens, patios, and walkways. New design trends, energy-saving technologies, and smart home devices are encouraging market growth.
• Commercial and Public Spaces: The trend of using outdoor lanterns in commercial and public indoor and outdoor settings, including parks, streets, and other activity areas, is on the rise. Such properties have increased quality and eco-friendliness, making them ideal for areas with heavy usage. There are many opportunities in the realm of technology related to public facilities and commercial buildings.
• Solar-Powered Solutions: The demand for solar-powered outdoor lanterns has been increasing as they are eco-friendly and cost-effective. Over time, the cost of solar lanterns has decreased while the technology itself has improved. This growth opportunity is particularly relevant in areas with high insolation and regions where access to conventional energy sources is limited.
• Smart Lighting Integration: Smart technology that complements traditional outdoor lanterns is seen as an effective way to increase market share. There is a growing focus on lighting systems that offer autonomous and remote control of illumination. Features such as motion sensing and app connectivity enhance user convenience and energy efficiency, promoting product growth.
• Eco-Friendly Materials: The demand for outdoor lanterns made from eco-friendly and recyclable materials is increasing. This trend is beneficial for manufacturers, as they can target this growing market by providing environmentally friendly products. This growth opportunity aligns with consumer desires for low environmental impact and contributes to broader sustainability efforts.
Some of these strategic growth opportunities highlight changing consumer preferences and the potential for innovation in the outdoor lantern industry. The insights provided suggest that there are growing opportunities for firms in traditional areas focusing on residential, commercial, and environmentally friendly applications.
Outdoor Lantern Market Driver and Challenges
The outdoor lantern market faces various drivers and challenges, such as increasing competition, technological and economic factors, and regulatory policies. It is important to understand these market factors, as they assist in decision-making.
The factors responsible for driving the outdoor lantern market include:
• Technological Advancements: These factors range from advancements in light-emitting diodes (LED) and solar technologies to other developments that boost the outdoor lantern market. Modern lanterns are becoming more appealing to consumers because of better energy efficiency, longer lifespans, and improved performance. These technological changes also encourage the development of alternative energy sources, including smart and solar-powered solutions, which address consumer needs.
• Sustainability Trends: Sustainability increases demand for and attraction to outdoor lanterns. Both consumers and manufacturers are shifting toward the use of sustainable materials and energy. This development responds to political declarations and regulatory measures in many countries that seek to encourage green products.
• Urbanization: A sharp increase in urbanization rates and a greater focus on outdoor living optimize the market for beautiful and practical outdoor lanterns. The growth of urbanization and the expansion of outdoor spaces in residential and commercial areas necessitate new lighting technologies.
• Economic Factors: The outdoor lantern market is impacted by the economic situation, including factors such as construction activity and the level of disposable income. During periods of economic growth, both consumers and enterprises are more likely to spend on high-end and advanced lighting solutions. Conversely, economic recessions tend to lead to reduced expenditure on luxury items.
• Regulatory Requirements: Rules and regulations, along with safety needs, significantly contribute to the marketing of outdoor lanterns. The design and manufacturing of products are influenced by the need to adhere to energy consumption and safety performance standards. Compliance with these regulations is essential for the smooth entry and development of products in the market.
Challenges in the outdoor lantern market are:
• Market Saturation: The outdoor lantern market has seen numerous players enter, resulting in a large number of similar outdoor lanterns being manufactured. This market saturation leads to price reductions and shrinking margins, prompting companies to seek alternative marketing strategies through quality and innovation.
• Supply Chain Disruptions: Global supply chain issues can affect the availability of materials needed to manufacture outdoor lanterns and may increase costs. Supply chain disruptions can cause delays and high production costs, which can impact pricing objectives in the market.
• Regulatory Compliance: Complying with regulations aimed at ensuring energy efficiency and safety poses significant challenges for manufacturers. Meeting these diverse requirements requires careful scheduling and resources, which could influence the prospects for product introduction.
The outdoor lantern market is influenced by various growth and innovation factors, both positively and negatively. Technological changes and sustainability initiatives are key growth factors, while market saturation, supply chain disruptions, and regulatory constraints are significant barriers. Mastering these phenomena is crucial for survival in changing economies.
List of Outdoor Lantern Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies outdoor lantern companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the outdoor lantern companies profiled in this report include-
• Primo
• CopperSmith
• Bevolo
• Coleman
• Snow Peak
• Lightsource
• Goal Zero
Outdoor Lantern by Segment
The study includes a forecast for the global outdoor lantern by type, application, and region.
Outdoor Lantern Market by Type [Analysis by Value from 2018 to 2030]:
• LED Lanterns
• Battery-Powered Lanterns
• Solar Lanterns
• Others
Outdoor Lantern Market by Application [Analysis by Value from 2018 to 2030]:
• Outdoor Specialty Store
• Supermarket
• Online Channels
Outdoor Lantern Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Outdoor Lantern Market
Currently, the trend for outdoor lantern lights includes excessive adoption of technology, sustainability, and outstanding product designs among various regions. The demand for energy-saving lights and smart outdoor products has brought remarkable advancements. The following are recent trends in different areas:
• United States: In the U.S., outdoor lanterns have more smart technology compared to earlier designs. Outdoor lanterns often include the ability to control the products through apps available on different portable devices. Solar-powered models are also becoming more common as they are environmentally friendly and cost-effective. Tougher and more weatherproof constructions must be adopted because of the varying climatic conditions across the country.
• China: In China, as the market for outdoor lanterns matures, energy efficiency and smart technology features have become key targets. Other features include the use of advanced LED lighting technology and the incorporation of solar lighting systems. It has become standard practice among Chinese manufacturers to use reliable and weatherproof plastics, and features like motion sensors and remote devices are becoming standard. There is also a focus on green manufacturing and the use of recyclable materials.
• Germany: An increasing focus on the use of green materials and energy-efficient technologies in outdoor lanterns is being observed in Germany. Considerable attention is being paid to design and functionality, but there has been a shift toward more minimal and contemporary designs. German companies are the first to incorporate smart home technologies into lanterns through the use of smartphone applications, which are also integrated into the home automation market.
• India: The outdoor lantern market in India is expanding with the growing number of towns and facilities for outdoor leisure. It is also favored as it can provide light in areas where electricity is barely available. Improvements include high-performance batteries and weatherproof encasements. The emphasis is also on low cost and availability to target a wider range of customers.
• Japan: Japanese outdoor lanterns are characterized by compactness and efficient energy consumption. Recent advances include lanterns that use new LED technology and solar power. There is also a growing interest in blending traditional Japanese aesthetics into the design while maintaining practicality. Sensors that change the lighting automatically and systems integrated with home automation are also gaining popularity.
Features of the Global Outdoor Lantern Market
Market Size Estimates: Outdoor lantern market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Outdoor lantern market size by type, application, and region in terms of value ($B).
Regional Analysis: Outdoor lantern market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the outdoor lantern market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the outdoor lantern market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the growth forecast for outdoor lantern market?
Answer: The global outdoor lantern market is expected to grow with a CAGR of 6.5% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the outdoor lantern market?
Answer: The major drivers for this market are increasing demand for energy-efficient lighting solutions, government efforts encouraging the adoption of sustainable practices and rising demand for aesthetic and functional outdoor lighting.
Q3. What are the major segments for outdoor lantern market?
Answer: The future of the outdoor lantern market looks promising with opportunities in the outdoor specialty store, supermarket, and online channel markets.
Q4. Who are the key outdoor lantern market companies?
Answer: Some of the key outdoor lantern companies are as follows:
• Primo
• CopperSmith
• Bevolo
• Coleman
• Snow Peak
• Lightsource
• Goal Zero
Q5. Which outdoor lantern market segment will be the largest in future?
Answer: Lucintel forecasts that LED lantern is expected to witness the highest growth over the forecast period due to its energy efficiency and cost-effectiveness.
Q6. In outdoor lantern market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period due to rapid urbanization and infrastructural development and growing focus towards outdoor living spaces in this region.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the outdoor lantern market by type (led lanterns, battery-powered lanterns, solar lanterns, and others), application (outdoor specialty store, supermarket, and online channels), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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