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Report
LED Bulb Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-07-05 I 143 Pages I IMARC Group
Market Overview:
The global LED bulb market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.3% during 2023-2028. The increasing demand for energy efficient lighting solutions, rising number of commercial spaces, and the growing demand for luxury vehicles represent some of the key factors driving the market.
The light emitting diode (LED) bulb is a lighting fixture that uses one or more LEDs to produce light. It is energy efficient and has a longer lifespan as compared to incandescent and fluorescent bulbs. It is also durable and resistant to shock and vibration and emits less heat, which makes them safer to use and reduces the risks of fire hazards. Nowadays, it is available in a variety of colors and brightness levels, which enables them to be used for different lighting applications. It also offers dimming options that allow one to adjust the brightness for catering to the requirements of individuals.
LED Bulb Market Trends:
There is an increase in the demand for energy efficient lighting solutions in homes. This, coupled with the rising awareness about the benefits of LED lighting solutions, such as LED bulbs, among the masses represents one of the major factors strengthening the market growth around the world. Moreover, the growing number of commercial spaces, such as offices, restaurants, cafes, hotels, movie theaters, shopping malls, metro stations, and airports, is driving the adoption of LED bulbs. In addition, the increasing utilization of LED bulbs in various lighting applications of the aviation and aerospace industry, which include cabin, cockpit, and exterior lighting solutions, to create different moods or lighting effects and improve visibility or color accuracy is propelling the growth of the market. Apart from this, there is a rise in the installation of LED bulbs in vehicles, including headlights, taillights, and interior lighting. This, along with the growing demand for luxury vehicles and significant growth in the automotive industry, is influencing the market positively. Furthermore, the increasing usage of LED bulbs in examination rooms, dental offices, hospital rooms, phototherapy, patient monitoring, and surgical lighting to provide precise control of light intensity and color temperature is favoring the growth of the market. Besides this, due to rising environmental concerns, governing agencies of numerous countries are undertaking measures to promote the adoption of LED lighting solutions like LED bulbs and minimize carbon emissions. They are also investing in the development of smart cities, which in turn, is catalyzing the demand for LED bulbs across the globe.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on application.
Application Insights:
Retrofit
Retail & Hospitality
Outdoor
Offices
Architectural
Residential
Industrial
The report has provided a detailed breakup and analysis of the LED bulb market based on the application. This includes retrofit, retail & hospitality, outdoor, offices, architectural, residential, and industrial. According to the report, retrofit represented the largest segment.
Regional Insights:
India
China
Europe
United States
Japan
Brazil
Russia
Others
The report has also provided a comprehensive analysis of all the major regional markets, which include India, China, Europe, United States, Japan, Brazil, Russia, and others. According to the report, India was the largest market for LED bulb. Some of the factors driving the India LED bulb market included product innovations, government initiatives, easy availability, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global LED bulb market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Nichia Corporation, Osram GmbH, Samsung Electronics, Everlight Electronics, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global LED bulb market in 2022?
2. What is the expected growth rate of the global LED bulb market during 2023-2028?
3. What are the key factors driving the global LED bulb market?
4. What has been the impact of COVID-19 on the global LED bulb market?
5. What is the breakup of the global LED bulb market based on the application?
6. What are the key regions in the global LED bulb market?
7. Who are the key players/companies in the global LED bulb market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global LED Lighting Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 LED Bulb Market
5.5 Market Breakup by Region
5.6 Market Breakup by Application
5.7 Market by LED Products: LED Lamps, Modules and Fixtures
5.7.1 Current and Historical Market Trends
5.7.2 Market Forecast
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.10.1 Primary Raw Materials Suppliers
5.10.2 LED Chip Manufacturers
5.10.3 LED Package and Module Manufacturers
5.10.4 Lighting Products, Electronic Products and Automotive Part Manufacturers
5.10.5 Product Distribution
5.10.6 End Users
5.11 Porter's Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
5.12 Key Success and Risk Factors for LED Bulb Manufacturers
5.13 Comparative Analysis of CFL and LED
5.14 Price Analysis
5.14.1 Key Price Indicators
5.14.2 Price Structure
6 Performance of Key Regions
6.1 India
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 China
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Europe
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 United States
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Japan
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Brazil
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Russia
6.7.1 Market Trends
6.7.2 Market Forecast
6.8 Others
6.8.1 Market Trends
6.8.2 Market Forecast
7 Market Breakup by Application
7.1 Retrofit
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Retail & Hospitality
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Outdoor
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Offices
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Architectural
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Residential
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Industrial
7.7.1 Market Trends
7.7.2 Market Forecast
8 Competitive Landscape
8.1 Market Structure
8.2 Market Breakup by Key Players
9 LED Bulb Manufacturing Process
9.1 Product Overview and Specifications
9.2 Key Features and Advantages
9.3 Key Application Areas
9.3.1 Home
9.3.2 Offices
9.3.3 Hotel and Restaurants
9.3.4 Showrooms and Malls
9.3.5 Hospitals
9.4 Popular Shapes and Sizes
9.4.1 LED Bulb (Classic Globe)
9.4.2 LED Bulb (Mini Globe)
9.4.3 LED Bulb (Spot Light)
9.4.4 LED Bulb (Flame Tip)
9.4.5 LED Bulb (Deco Light)
9.4.6 LED Bulb (Candle Light)
9.5 Design Material Alternatives
9.5.1 Thermoplastic Housing
9.5.2 Aluminium Housing
9.5.3 Aluminium Housing with Plastic Coating
9.6 Manufacturing Process
9.7 Raw Material Requirements
9.8 Raw Material Pictures
10 Project Details, Requirements and Costs Involved
10.1 Land Requirements and Expenditures
10.2 Construction Requirements and Expenditures
10.3 Plant Machinery
10.4 Machinery Pictures
10.5 Raw Material Requirements and Expenditures
10.6 Raw Material and Final Product Pictures
10.7 Packaging Requirements and Expenditures
10.8 Transportation Requirements and Expenditures
10.9 Utility Requirements and Expenditures
10.10 Manpower Requirements and Expenditures
10.11 Other Capital Investments
11 Loans and Financial Assistance
12 Project Economics
12.1 Capital Cost of the Project
12.2 Techno-Economic Parameters
12.3 Product Pricing and Margins Across Various Levels of the Supply Chain
12.4 Taxation and Depreciation
12.5 Income Projections
12.6 Expenditure Projections
12.7 Financial Analysis
12.8 Profit Analysis
13 Key Player Profiles
13.1 Nichia Corporation
13.2 Osram GmbH
13.3 Samsung Electronics
13.4 Everlight Electronics
Figure 1: Global: LED Bulb Light Market: Major Drivers and Challenges
Figure 2: Global: LED Lighting Market: Volume Trends (in Billion Units), 2017-2022
Figure 3: Global: LED Lighting Market: Value Trends (in Billion US$), 2017-2022
Figure 4: Global: LED Bulb Light Market: Value Trends (in Billion US$), 2017-2022
Figure 5: Global: LED Lamps and Modules Market: Volume Trends (in Million Units), 2017-2022
Figure 6: Global: LED Fixtures Market: Volume Trends (in Million Units), 2017-2022
Figure 7: Global: LED Lamps and Modules Market Forecast: Volume Trends (in Million Units), 2023-2028
Figure 8: Global: LED Fixtures Market Forecast: Volume Trends (in Million Units), 2023-2028
Figure 9: Global: LED Lighting Market Forecast: Volume Trends (in Billion Units), 2023-2028
Figure 10: Global: LED Lighting Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 11: Global: LED Bulb Light Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 12: Global: LED Lighting Market: Breakup by Region (in %), 2022
Figure 13: Global: LED Lighting Market: Breakup by Application (in %), 2022
Figure 14: LED Bulb Light Market: Price Structure
Figure 15: Global: LED Lighting Industry: SWOT Analysis
Figure 16: Global: LED Lighting Industry: Value Chain Analysis
Figure 17: Global: LED Lighting Industry: Porter's Five Forces Analysis
Figure 18: India: LED Lighting Market (in Million US$), 2017-2022
Figure 19: India: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 20: China: LED Lighting Market (in Million US$), 2017-2022
Figure 21: China: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 22: Europe: LED Lighting Market (in Million US$), 2017-2022
Figure 23: Europe: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 24: United States: LED Lighting Market (in Million US$), 2017-2022
Figure 25: United States: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 26: Japan: LED Lighting Market (in Million US$), 2017-2022
Figure 27: Japan: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 28: Brazil: LED Lighting Market (in Million US$), 2017-2022
Figure 29: Brazil: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 30: Russia: LED Lighting Market (in Million US$), 2017-2022
Figure 31: Russia: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 32: Other Regions: LED Lighting Market (in Million US$), 2017-2022
Figure 33: Other Regions: LED Lighting Market Forecast (in Million US$), 2023-2028
Figure 34: Global: LED Lighting Market: Retrofit Applications (in Million US$), 2017 & 2022
Figure 35: Global: LED Lighting Market Forecast: Retrofit Applications (in Million US$), 2023-2028
Figure 36: Global: LED Lighting Market: Retail & Hospitality Applications (in Million US$), 2017 & 2022
Figure 37: Global: LED Lighting Market Forecast: Retail & Hospitality Applications (in Million US$), 2023-2028
Figure 38: Global: LED Lighting Market: Outdoor Applications (in Million US$), 2017 & 2022
Figure 39: Global: LED Lighting Market Forecast: Outdoor Applications (in Million US$), 2023-2028
Figure 40: Global: LED Lighting Market: Office Applications (in Million US$), 2017 & 2022
Figure 41: Global: LED Lighting Market Forecast: Office Applications (in Million US$), 2023-2028
Figure 42: Global: LED Lighting Market: Architectural Applications (in Million US$), 2017 & 2022
Figure 43: Global: LED Lighting Market Forecast: Architectural Applications (in Million US$), 2023-2028
Figure 44: Global: LED Lighting Market: Residential Applications (in Million US$), 2017 & 2022
Figure 45: Global: LED Lighting Market Forecast: Residential Applications (in Million US$), 2023-2028
Figure 46: Global: LED Lighting Market: Industrial Applications (in Million US$), 2017 & 2022
Figure 47: Global: LED Lighting Market Forecast: Industrial Applications (in Million US$), 2023-2028
Figure 48: Global: LED Lighting Market: Key Players Market Share (in %), 2022
Figure 49: LED Bulb Manufacturing Plant: Various Types of Operation Involved
Figure 50: LED Bulb Manufacturing Plant: Conversion Rate of Products
Figure 51: LED Bulb Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 52: LED Bulb Manufacturing Industry: Profit Margins at Various Levels of the Supply Chain
Figure 53: LED Bulb Manufacturing Plant: Manufacturing Cost Breakup (in %)?
Table 1: Global: LED Lighting Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: LED Lighting Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 3: Global: LED Lighting Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: LED Lighting Market: Competitive Structure
Table 5: Global: LED Lighting Market: Key Players
Table 6: Comparison of LEDs with Compact Fluorescent Lamps (Based on Energy Efficiency and Environmental Impact)
Table 7: Comparison of LEDs and Compact Fluorescent Lamps (Based on Luminous Flux)
Table 8: LED Bulb Manufacturing: Suppliers of Raw Materials and Delivery Timeline
Table 9: LED Bulb Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 10: LED Bulb Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 11: LED Bulb Manufacturing Plant: Costs Related to Machinery (in US$)
Table 12: LED Bulb Manufacturing Plant: Raw Material Requirements (in Units/Day) and Expenditures (in US$/Unit)
Table 13: LED Bulb Manufacturing Plant: Outer Packaging Requirements and Expenditure (in US$/Unit)
Table 14: LED Bulb Manufacturing Plant: Inner Packaging Requirements and Expenditure (in US$/Unit)
Table 15: LED Bulb Manufacturing Plant: Transportation Expenditure (in US$/Unit)
Table 16: LED Bulb Manufacturing Plant: Costs Related to Utilities (in US$)
Table 17: LED Bulb Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 18: LED Bulb Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 19: Details of Financial Assistance Offered by Financial Institutions
Table 20: LED Bulb Manufacturing Plant: Capital Costs (in US$)
Table 21: LED Bulb Manufacturing Plant: Taxation and Depreciation (in US$)
Table 22: LED Bulb Manufacturing Plant: Income Projections
Table 23: LED Bulb Manufacturing Plant: Expenditure Projections (in US$)
Table 24: LED Bulb Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 25: LED Bulb Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 26: LED Bulb Manufacturing Plant: Profit and Loss Account (in US$)
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