The filament LED Bulb market is expected to grow from US$ 1433.19 million in 2021 to US$ 6621.39 million by 2028; it is estimated to grow at a CAGR of 24.4% from 2021 to 2028.
The market growth is attributed to the rising number of commercial and residential construction projects in different regions. Moreover, surge in interest in home renovation and remodeling activities, which can be linked to increased government support, particularly in industrialized countries, is also bolstering the demand for filament LED bulbs. In Europe, for example, the National Energy Efficiency Action Plans (NEEAPs) aims to encourage investments in maintenance and refurbishment of residential and commercial spaces. Further, consumer’s willingness to spend significant amounts on the styling of living spaces has drawn their attention to home furnishing products such as carpets and rugs, and advanced and styled lighting systems that improve the aesthetic appeal of interiors. Rise in consumer income levels, changes in lifestyles, and embrace of diverse cultures in terms of interior decor are contributing to this transition.
Regular Government initiatives to encourage people to build their own houses, especially in the developing countries, are also fueling the demand for filament LED bulbs in the residential segment. Smart cities initiatives, among other similar developments, by the government are fueling the urban infrastructure growth and construction development in India. In March 2018, the construction of an additional 321,567 affordable dwellings was approved as a part of PMAY. The Indian government gave a huge boost to the infrastructure industry by allocating US$ 61.92 billion in its Union Budget 2017–2018. Later, in its 2018–2019 budget, the government increased its infrastructure development spending by 20.9%, from INR 4.9 trillion (US$ 75.9 billion) in 2017–2018 to INR 6 trillion (US$ 89.2 billion) in 2018–2019. Thus, such government initiatives are contributing to the rise in commercial and residential construction projects, thereby creating the demand for filament LED bulbs.
Impact of COVID-19 Pandemic on Filament LED Bulb Market
The COVID-19 pandemic has hampered the adoption and development of lighting systems in the world. Furthermore, consumers in different countries have deprioritized the indoor maintenance and renovation activities; further, the limited presence of laborers has affected the performance of supply side.
Lucrative Regions in Filament LED Bulb Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights–Filament LED Bulb Market
Increase in Adoption of Filament LED Bulbs Across Restaurants, Hotels, Bars, and Cafes Boosts Market Growth
The lighting is an important aspect of the overall design in restaurants and cafes. In cafes, bars, and restaurants, light intensity of 150 lux is generally recommended. Among other areas, entrances require 100 lux, food storage section requires 150 lux, washing section needs 300 lux, and cooking section requires 500 lux. Restaurants use four types of lighting: general lighting, accent lighting, decorative lighting, and natural lighting. In a cafe or restaurant, general lighting is the most significant feature. Homogeneous lighting is achieved by placing lighting equipment in a certain order at equal intervals. Customers will perceive the restaurant as more welcoming if it has decent overall illumination. Accent lighting can be utilized to draw focus to the key or fancy aspects of restaurants, including decor, plants, tables, or merchandise. Decorative lighting refers to the lighting accessories that are employed to complete the design. Both traditional and modern lighting can be used to create decorative lighting. Thus, various lighting techniques used in restaurants, hotels, bars, and cafes are bolstering the adoption of filament LED bulbs, thereby contributing to the market growth.
Product-Based Insights
Based on product, the filament LED bulb market is segmented into 0-25 watt type, 25-40 watt type, 40-60 watt type, and above 60 watt type. The 0-25-watt type segment held the largest market share in 2020. The 0–25-watt bulbs are dimmable lights whose applications range from functional lighting to warm glow lightening. These long-lasting LED bulbs are suitable in difficult-to-reach places.
Application-Based Insights
Based on application, the filament LED bulb market is segmented into residential, restaurants and bars, hotels, café, and others. The residential segment led the filament LED bulb market in 2020. Surging government initiatives to promote residential construction activities, coupled with increasing spending capacity of individuals, are contributing to the growth of the filament LED bulb market for the residential segment.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Filament LED Bulb Market: Strategic Insights
Market Size Value in US$ 1433.19 Million in 2021 Market Size Value by US$ 6621.39 Million by 2028 Growth rate CAGR of 24.4% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Filament LED Bulb Market: Strategic Insights
Market Size Value in | US$ 1433.19 Million in 2021 |
Market Size Value by | US$ 6621.39 Million by 2028 |
Growth rate | CAGR of 24.4% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystPlayers operating in the filament LED bulb market are mainly focused on the development of advanced and efficient products.
- In September 2021, Signify, launched the fourth generation of the Philips Hue app, to further enhance the experience for numerous Philips Hue users all over the world.
The filament LED bulb market has been segmented as follows:
By Product
- 0-25 Watt Type
- 25-40 Watt Type
- 40-60 Watt Type
- Above 60 Watt Type
By Application
- Residential
- Restaurants and Bars
- Hotels
- Café
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Filament LED Bulb Market – Company Profiles
- Crompton Lamps Ltd
- Havells India Ltd.
- Wipro Consumer Lighting
- MEGAMAN
- OSRAM GmbH
- Signify Holding (Philips)
- Feilo Sylvania Europe Limited
- UKLED
- Verbatim Americas LLC
- Seoul Semiconductor Co., Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Many countries are seeing an increase in home renovation and remodeling activities, which can be linked to increased government support, particularly in industrialized countries. In Europe, for example, the National Energy Efficiency Action Plans (NEEAPs) aim to encourage investments in maintenance and refurbishment of residential and commercial spaces. Consumers' desire to spend a significant amount of money on the style of living spaces has drawn their attention to home furnishings such as carpets and rugs and advanced and styled lighting systems, which improve the aesthetic appeal of interiors. Rise in consumer income levels, changes in lifestyles, and embrace of diverse cultures in terms of interior decor are contributing to this transition.
Regular Government initiatives to promote building own houses, especially in the developing countries, are also fueling the demand for filament LED bulbs for residential use. For instance, Housing for all, the government's flagship scheme PMAY, launched in June 2015, aims to build 20 million urban homes and 30 million rural houses by 2022. Smart Cities and other initiatives by the ruling government are fueling the growth of the urban infrastructure and construction development in India.
25-40-watt type LED filament bulbs are available in both white and amber light colors and different designs for offering a vintage look. The bulb has a traditional filament design for an old-fashioned look and feel, like an original old-fashioned-style bulb. Its very warm (2000 K) tint and soft light amber glow makes it ideal for clear shade lamps and exposed-bulb lighting. This light bulb is dimmable, allowing the user to change the brightness to suit the mood of a room, cafe, or restaurant. The average life of these bulbs is estimated to be 13 years (based on usage of 3 hour/day).
- Crompton Lamps Ltd
- Havells India Ltd.
- Wipro Consumer Lighting
- MEGAMAN
- OSRAM GmbH
- Signify Holding (Philips)
- Feilo Sylvania Europe Limited
- UKLED
- Verbatim Americas LLC
- Seoul Semiconductor Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Filament LED Bulb Market
Jun 2021
Robotic Crawler Camera System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Hardware (Cameras, Crawlers, Cable Drums, Control Units, and Others), Software, and Service], Application (Drain Inspection, Pipeline Inspection, and Tank Void Capacity or Conduit Inspection), and End User (Residential, Commercial, Municipal, and Industrial)
Jun 2021
Inertial Sensor for Land Defense Systems Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (FOG, MEMS, and Others) and Application (Stabilization Missile Systems, Stabilization Turret-Cannon Systems, Land Navigation Including Land Survey, Missile GGM-SSM, Stabilization Active Protection System, Stabilization of Optronics System, and Others)
Jun 2021
Drone Lithium Battery Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Battery Type (Li-ion, Li-Po, and Li-S), Battery Capacity (Below 3,000 mAh; 3,000–5,000 mAh; and Above 5,000 mAh), Drone MTOW (Below 100 Kgs, 100–200 Kgs, and Above 200 Kgs), Wing Type (Fixed Wing and Rotary Wing), and End Use (Military and Commercial)
Jun 2021
ASRS for Garments on Hangers Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Type (Garment Rail System, Garment Conveyor, Garment Property Storage, and Others) and Application (Warehousing and Logistics, Retail 3PL, Hotels, Hospitals and Institutes, and Others)
Jun 2021
Analog to Digital Converter Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others)
Jun 2021
Laser Distance Sensor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Distance (Between 2 and 10 Meters, Between 11 and 100 Meters, Between 101 and 200 Meters, and Between 201 and 500 Meters), Accuracy (1 mm at 2 Sigma, 3 mm with 2 Sigma, and 5 mm at 2 Sigma), and End User (Manufacturing, Construction, Automotive and Robotics, Aerospace and Defense, Geospatial Industry, and Others)
Jun 2021
Rugged Tablet Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Fully Rugged Tablet, Semi Rugged Tablet, and Ultra Rugged Tablet); Operating System (Android, Windows, and iOS); and Application (Aerospace & Defense, Automotive, Construction, Energy & Utilities, Manufacturing, Oil & Gas, and Others)
Jun 2021
Rear Door Heat Exchanger Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Active and Passive) and End User (Data Center, IT and Telecommunication, Semiconductor, Education, Government, and Others)