Global Light Bulb Market by Type (LED Light Bulbs, Incandescent Bulbs, Other), By Application (Residential, Office, Shop, Hospitality, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

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 Light Bulbs:

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:

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.

Others:

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 Scope

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.

Global Light Bulb Market Report Segments:

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:

1. Osram
2. Philips
3. GE Lighting
4. Acuity Brands
5. Eaton
6. Cree
7. Panasonic
8. Toshiba
9. Sharp
10. Yankon Lighting
11. Opple
12. Hubbell
13. Zumtobel Group
14. NVC (ETI)
15. Nichia
16. FSL
17. TCP
18. Havells
19. Mitsubishi
20. MLS

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.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Light Bulb Market

Overview of the regional outlook of the Light Bulb Market:

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.

Highlights of The Light Bulb Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Light Bulb Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. LED Light Bulbs

                2. Incandescent Bulbs

                3. Other

                1. Residential

                2. Office

                3. Shop

                4. Hospitality

                5. Others

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

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.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Light Bulb Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.