Filament LED Bulb Market 2021-2028 Share Analysis, Global Business Trends, Future Demand, Industry Size and Leading Companies with their Growth Strategy

Favorable government policies to encourage innovation, the presence of a large industrial base, and the high purchasing power of people are the major factors that make North America a prominent region supporting developments and adoption of new technologies, particularly in developed countries such as the US and Canada. As a result, any influence on industry growth negatively affects the region's economic growth. The COVID-19 pandemic has severely affected four key areas in the region: supply chain/operations, workforce availability, investments, and product offering.

Several small café and restaurants lost business due to bankruptcy amid the pandemic. Moreover, many of the businesses that survived moved their focus to online deliveries, due to forbidden dine-in services in several countries as well as due to reluctance among people to visit these places for meals. Thus, the above-mentioned factors have negatively impacted the filament LED bulb market during the pandemic.

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.

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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) aim to encourage investments in the 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.

Competitive scenario:

The study assesses factors such as segmentation, description, and applications of Filament LED Bulb industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.

The final report will add the analysis of the Impact of Covid-19 in this report Filament LED Bulb Market.

Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Filament LED Bulb Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Filament LED Bulb Market is analysed and depicted in the report.

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, the light intensity of 150 lux is generally recommended. Among other areas, entrances require 100 lux, the food storage section requires 150 lux, the washing section needs 300 lux, and the 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.

Some of the companies competing in the Filament LED Bulb Market are 

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.

Segmentation

The Filament LED Bulb Market has been segmented on the basis of different aspects. The market is also segmented according to region. The Filament LED Bulb Market has been segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa on the basis of region

Research Methodology

The report has its roots definitely set in thorough strategies provided by proficient data analysts. The research methodology involves the collection of information by analysts only to have them studied and filtered thoroughly in an attempt to provide significant predictions about the market over the review period. The research process further includes interviews with leading market influencers, which makes the primary research relevant and practical. The secondary method gives a direct peek into the demand and supply connection. The market methodologies adopted in the report offer precise data analysis and provides a tour of the entire market. Both primary and secondary approaches to data collection have been used. In addition to these, publicly available sources such as SEC filings, annual reports, and white papers have been used by data analysts for an insightful understanding of the market. The research methodology clearly reflects an intent to extract a comprehensive view of the market by having it analyzed against many parameters. The valued inputs enhance the report and offer an edge over the peers.

Drivers & Constraints

The Filament LED Bulb Market rests united with the incidence of leading players who keep funding to the market’s growth significantly every year. The report studies the value, volume trends, and the pricing structure of the market so that it could predict maximum growth in the future. Besides, various suppressed growth factors, restraints, and opportunities are also estimated for the advanced study and suggestions of the market over the assessment period.

Filament LED Bulb Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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