What is Lanterns Market?
A lantern is a device used to illuminate surrounding space. It can be portable or fixed to a place. It can be used as any kind of a light source, for signaling, decoration, in religious rituals, or in celebrations. They are basically a light source enclosed in a container that protects the flame so the wind would not put it out but light can pass through. It can be made from a variety of materials from non-flammable to flammable. the use of lanterns especially during festivals such as on the first full moon night in the Chinese calendar, marking the return of spring and symbolizing the reunion of family and many other celebrations is a major driving factor of the growth of the lanterns used for
The market study is being classified by Type (Flammable and Non-Flammable), by Application (Personal Use and Commercial Use) and major geographies with country level break-up.
Coleman (United States), Dorcy (United States), UCO Gear( United States), Energizer (United States), UST Brands (United States), Tideland Signal (United States), Black Diamond, Goldmore (Australia), Johnson Outdoors(United States) and Newell Brands (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new modifications in the existing products, and collaborations as per their preferred strategies. Research Analyst at AMA predicts that Asian Vendors will contribute to the maximum growth of Global Lanterns market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Lanterns market by Type, Application and Region.
On the basis of geography, the market of Lanterns has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The growing need for energy-efficient solar lighting systems for highways
- Increasing demand for the lanterns as Cultural Significance of the Lantern Festival
Market Trend
- Enhancement in product features through advanced technology
Restraints
- Fluctuated raw material price
Opportunities
- Increasing use in traditional festivals
- Increasing use of battery-operated lanterns
Challenges
- High competition between local manufacturers
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Lanterns Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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