The Global Light Bulb Market size is expected to grow at a CAGR of 3.5% during the forecast period, 2021-2028. The growth can be attributed to factors such as increasing demand for energy efficiency and environmental awareness in developing economies, rising adoption of LED bulbs in developed countries, and technological advancements in the lighting industry.
A Light Bulb is a device used to produce light for general illumination or task lighting. It consists of an electric lamp, usually in the shape of a glass "A" which lets visible light pass through and then reflects other types of radiation (including infrared and ultraviolet) to give off its pleasant glow. Light bulbs are one type of electric light that can be found in many places all around us such as offices, houses, hospitals, hotels, etc.
On the basis of Type, the market is segmented into LED Light Bulbs, Incandescent Bulbs, and Other. The global light bulb market has been witnessing rapid growth in recent years due to the shift from incandescent bulbs to more energy-efficient alternatives such as LEDs.
LED stands for light-emitting diodes, which are semiconductor devices that emit visible light when an electric current passes through them. These lights have a long lifespan and last 25 times longer than traditional incandescent bulbs. LED lighting is also much more energy-efficient and produces less heat, so they’re well suited to outdoor use in cold climates or indoors where people need maximum flexibility in controlling the amount of natural daylight available.
Incandescent bulbs, the oldest of all light bulb technologies, were invented by Thomas Edison. They're still in use today because they remain inexpensive to produce and distribute. These lights have many applications but are no longer used for general lighting purposes due to their low efficiency and high heat production.
Other types of Light bulb includes fluorescent, halogen and others. Fluorescent lights are more efficient than incandescent bulbs because they use less energy to produce the same amount of light. They're also more environmentally friendly because their mercury content is low in comparison with other lighting technologies such as HID fixtures which contain a large quantity of mercury. Halogens were initially developed for use in street lamps but have been popularized by industry giants Philips and Osram who pioneered them for residential applications due to their efficiency at producing high levels of illumination while consuming minimal electricity. Other types include LED lights which last 25 times longer than traditional incandescent bulbs and can be used outdoors or indoors where people need maximum flexibility in controlling the amount of natural daylight available.
On the basis of Application, the market is segmented into Residential, Office, Shop, Hospitality, and Others. The market for Other application is expected to witness the fastest growth in terms of value during the forecast period. LED light bulbs are mostly used as residential lighting. Incandescent lights can be found in most offices where desk lamps or task-oriented lamps that offer directional illumination are required by workers who need a bright area on their work surfaces.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America lead over other regions with significant market size followed by Europe which accounted for almost 28% share in 2018. The Asia Pacific has been emerged as a key driving region due to rapidly increasing demand from countries like India and China. The Middle East & Africa commands lower sales compared to other regions mainly because incandescent bulbs are still dominant in these areas where LEDs have yet penetrated into households or businesses spaces sufficiently enough to compete against them on price too much even though this may soon change thanks to rapid economic development underway.
Up Market Research published a new report titled “Light Bulb Market research report which is segmented by Types (LED Light Bulbs, Incandescent Bulbs, Other), By Applications (Residential, Office, Shop, Hospitality, Others), By Players/Companies Osram, Philips, GE Lighting, Acuity Brands, Eaton, Cree, Panasonic, Toshiba, Sharp, Yankon Lighting, Opple, Hubbell, Zumtobel Group, NVC (ETI), Nichia, FSL, TCP, Havells, Mitsubishi, MLS”.
|Report Attributes||Report Details|
|Report Title||Light Bulb Market Research Report|
|By Type||LED Light Bulbs, Incandescent Bulbs, Other|
|By Application||Residential, Office, Shop, Hospitality, Others|
|By Companies||Osram, Philips, GE Lighting, Acuity Brands, Eaton, Cree, Panasonic, Toshiba, Sharp, Yankon Lighting, Opple, Hubbell, Zumtobel Group, NVC (ETI), Nichia, FSL, TCP, Havells, Mitsubishi, MLS|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||221|
|Number of Tables & Figures||155|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type LED Light Bulbs, Incandescent Bulbs, Other and By Application Residential, Office, Shop, Hospitality, Others.
Some of the companies that are profiled in this report are:
Light Bulb Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Light Bulb Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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