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The global LED bulb market size reached US$ 7.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.8 Billion by 2027, exhibiting a growth rate (CAGR) of 12.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
LED (light emitting diode) bulb refers to an electric lamp comprising of numerous clusters of LEDs which are mounted on a base. In contrast with the conventional lighting sources, such as incandescent and fluorescent lights, LED bulbs are associated with innumerable advantages which include a compact size, longer lifespan, lower energy consumption and production of less heat output. Additionally, these bulbs are available in different watts, colours, shapes and dimmable control. On account of this, LED bulbs are being commonly used in the industrial, commercial and residential sectors worldwide.
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED bulb market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
Amongst these, retrofit represents the biggest application of LED bulbs as it has been swiftly replacing the conventional lighting systems.
On a geographical front, India enjoys the leading position in the global LED bulbs market. This is due to an increase in the local manufacturing of LED products in the country.
The LED bulb market is concentrated in nature with the presence of a few manufacturers who account for the majority of the market share. There prevails a tough competition in the market as these manufacturers are dominating the market, in turn, keeping a tight control over the prices of LED bulbs. Some of the leading players operating in the market are:
This report provides a deep insight into the global LED bulb market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a LED bulb manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED bulb industry in any manner.
|Base Year of the Analysis||2021|
|Segment Coverage||Application, Region|
|Region Covered||India, China, Europe, Japan, Brazil, Russia, United States, Others|
|Companies Covered||Nichia Corporation, Osram GmbH, Samsung Electronics and Everlight Electronics|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global LED bulb market was valued at US$ 7.2 Billion in 2021.
We expect the global LED bulb market to exhibit a CAGR of 12.8% during 2022-2027.
The rising demand for LED bulbs in the industrial, commercial, and residential sectors as energy-efficient and eco-friendly lighting solutions, is primarily driving the global LED bulb market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for LED bulbs.
Based on the application, the global LED bulb market can be bifurcated into retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial. Currently, retrofit exhibits a clear dominance in the market.
On a regional level, the market has been classified into India, China, Europe, United States, Japan, Brazil, Russia, and others, where India currently dominates the global market.
Some of the major players in the global LED bulb market include Nichia Corporation, Osram GmbH, Samsung Electronics, Everlight Electronics, etc.
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