LED Bulbs Market Global Industry Analysis, Market Size, Opportunities and Forecast


LED bulbs are electric lamps that produce light through light emitting diodes and are used in lighting fixtures. These contain a cluster of LEDs, which are mounted on a single base and are packed in diffuser lenses in order to spread light across a defined space. LED bulbs produce light approximately 90% more efficiently than incandescent bulbs. These bulbs are based on solid-state lighting, which emits the light from semiconductor chip, thereby generating lesser heat than incandescent bulbs. The useful life of these lamps is defined differently than other light sources such as compact fluorescent light (CFL) or incandescent bulbs. LED bulbs do not fail or burn out, instead they face lumen depreciation in which the brightness of the bulb decreases over time.

The global LED bulbs market is expected to expand at a significant growth rate owing to the strict regulation norms regarding the banning of inefficient light bulbs. In some regions, governments have passed laws that restrict the usage of incandescent bulbs for general lighting purposes, thereby replacing them with more efficient bulbs.

However, lower awareness and dominance of fluorescent bulbs amongst the users are likely to hamper the LED bulb market. LED bulbs have a higher purchase price than other lamps; however, they require less operational costs due to high durability and reduced energy consumption. The decreasing cost of energy-efficient lamps is prompting organizations to utilize these bulbs in large-scale projects. Therefore, several governments are supporting the manufacturing and sale of LED lamps by offering various subsidies at different levels. For instance, the Government of India has launched the UJALA scheme that provides these lamps at a lower price, thereby saving energy. The Government of China has also launched intensive promotion of energy-saving and eco-friendly products.

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Numerous countries have initiated projects such as building of better roadways, smart cities and flyovers for developing infrastructure. The adoption of LED bulbs in these projects has been increasing due to their benefits such as low heat, high efficacy, and longer life.

In terms of product, the global LED bulb market can be classified into general purpose LEDs, specialty LEDs, decorative LEDs, and others. Increasing demand for LED bulbs in general purpose lighting is expected to increase at a significant pace during the forecast period. Decorative LED lamps are employed primarily in residential lighting applications such as pools, gardens, statues, and fountains. These are also utilized for functional applications such as landscaping and building facades.

Based on application, the LED bulb market can be segregated into indoor and outdoor. The indoor application segment can be further sub-segmented into residential, commercial, hospitality, retail, healthcare, industrial, and others. The outdoor application segment can be further split into highways and public places. LED bulbs are utilized to provide similar aesthetics similar to those provided by traditional incandescent lamps accompanied by energy-saving capabilities. This, in turn, is propelling the demand for LED bulbs in the residential application segment. These lamps are widely adopted by numerous commercial spaces such as hospitality, retail, and healthcare, due to their dimmable color temperature capabilities and color temperatures, thereby delivering enhanced illumination capabilities and offering direction to end-users.

The LED lighting revolution has dismantled the competitive environment, which has prompted established bulb manufacturers such as Osram and Philips to recreate their strategic landscape and policies. Prominent vendors of LED lamps include Cree Inc., General Electric Company, Seoul Semiconductor, Syska LED, Sharp Corporation, Zumtobel Group, ASM Pacific Technology, and Everlight Electronics. The industry, which was primarily dominated by major bulb manufacturing companies such as Philips, Osram and GE is witnessing incredible fragmentation as various new manufacturers have entered into the business.

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis

The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)

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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market   

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