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Market Size

Global LED Bulb Market Analysis, Share, Trends, Forecast: By Application: Retrofit, Retail & Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global LED Bulb Market Size

The global LED bulb market was valued at USD 7.80 billion in 2023. The market is further estimated to grow at a steady CAGR of 9.7% during the forecast period of 2024-2032 to reach USD 17.99 billion by 2032.

 

Based on the application, the retrofit segment dominated the market in 2020, followed by retail and hospitality, as LED bulbs are swiftly replacing the conventional lighting systems. Regionally, India accounted for a significant share of the LED bulb market on account of the increase in the local manufacturing of LED products and several government initiatives.

 

LED Bulb Market Report Snapshots

LED Bulb Market Size

LED Bulb Market Analysis

LED Bulb Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global LED Lighting Market Overview

    8.1    Key Industry Highlights
    8.2    Global LED Lighting Historical Market (2018-2023) 
    8.3    Global LED Lighting Market Forecast (2024-2032)
    8.4    Global LED Lighting Market by Region
        8.4.1    Market Share
            8.4.1.1    North America
            8.4.1.2    Europe
            8.4.1.3    Asia Pacific
            8.4.1.4    Latin America
            8.4.1.5    Middle East and Africa
9    Global LED Bulb Market Analysis
    9.1    Key Industry Highlights
    9.2    Global LED Bulb Historical Market (2018-2023) 
    9.3    Global LED Bulb Market Forecast (2024-2032)
    9.4    Global LED Bulb Market by Application
        9.4.1    Retrofit
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2018-2023)
            9.4.1.3    Forecast Trend (2024-2032)
        9.4.2    Retail & Hospitality
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2018-2023)
            9.4.2.3    Forecast Trend (2024-2032)
        9.4.3    Outdoor
            9.4.3.1    Market Share
            9.4.3.2    Historical Trend (2018-2023)
            9.4.3.3    Forecast Trend (2024-2032)
        9.4.4    Offices
            9.4.4.1    Market Share
            9.4.4.2    Historical Trend (2018-2023)
            9.4.4.3    Forecast Trend (2024-2032)
        9.4.5    Architectural
            9.4.5.1    Market Share
            9.4.5.2    Historical Trend (2018-2023)
            9.4.5.3    Forecast Trend (2024-2032)
        9.4.6    Residential
            9.4.6.1    Market Share
            9.4.6.2    Historical Trend (2018-2023)
            9.4.6.3    Forecast Trend (2024-2032)
        9.4.7    Industrial
            9.4.7.1    Market Share
            9.4.7.2    Historical Trend (2018-2023)
            9.4.7.3    Forecast Trend (2024-2032)
        9.4.8    Others
    9.5    Global LED Bulb Market by Region
        9.5.1    Market Share
            9.5.1.1    North America
            9.5.1.2    Europe
            9.5.1.3    Asia Pacific
            9.5.1.4    Latin America
            9.5.1.5    Middle East and Africa
10    Regional Analysis
    10.1    North America
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
        10.1.3    Breakup by Country
            10.1.3.1    United States of America 
            10.1.3.2    Canada
    10.2    Europe
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
        10.2.3    Breakup by Country
            10.2.3.1    United Kingdom
            10.2.3.2    Germany
            10.2.3.3    France
            10.2.3.4    Italy
            10.2.3.5    Others
    10.3    Asia Pacific
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
        10.3.3    Breakup by Country
            10.3.3.1    China
            10.3.3.2    Japan
            10.3.3.3    India
            10.3.3.4    ASEAN
            10.3.3.5    Australia
            10.3.3.6    Others
    10.4    Latin America
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
        10.4.3    Breakup by Country
            10.4.3.1    Brazil
            10.4.3.2    Argentina
            10.4.3.3    Mexico
            10.4.3.4    Others
    10.5    Middle East and Africa
        10.5.1    Historical Trend (2018-2023)
        10.5.2    Forecast Trend (2024-2032)
        10.5.3    Breakup by Country
            10.5.3.1    Saudi Arabia
            10.5.3.2    United Arab Emirates
            10.5.3.3    Nigeria
            10.5.3.4    South Africa
            10.5.3.5    Others
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyers Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    Key Indicators for Demand
    11.4    Key Indicators for Price
12    Value Chain Analysis
13    Manufacturing Process

    13.1    Detailed Process Flow
    13.2    Operations Involved
    13.3    Mass Balance
14    Price Analysis
    14.1    Price Structure
    14.2    Price Trends
15    Project Details, Requirements and Costs Involved
    15.1    Land Requirements and Expenditures
    15.2    Construction Requirements and Expenditures
    15.3    Plant Machinery
    15.4    Machinery Pictures
    15.5    Raw Material Requirements and Expenditures
    15.6    Raw Material and Final Product Pictures
    15.7    Packaging Requirements and Expenditures
    15.8    Transportation Requirements and Expenditures
    15.9    Utility Requirements and Expenditures
    15.10    Manpower Requirements and Expenditures
    15.11    Other Capital Investments
16    Loans and Financial Assistance
17    Project Economics

    17.1    Capital Cost of the Project
    17.2    Techno-Economic Parameters
    17.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    17.4    Taxation and Depreciation
    17.5    Income Projections
    17.6    Expenditure Projections
    17.7    Financial Analysis
    17.8    Profit Analysis
18    Competitive Landscape
    18.1    Market Structure
    18.2    Key Players’ Market Share
    18.3    Company Profiles
        18.3.1    General Electric Company
            18.3.1.1    Company Overview
            18.3.1.2    Product Portfolio
            18.3.1.3    Demographic Reach and Achievements
            18.3.1.4    Financial Summary
            18.3.1.5    Certifications
        18.3.2    Cree Lighting
            18.3.2.1    Company Overview
            18.3.2.2    Product Portfolio
            18.3.2.3    Demographic Reach and Achievements
            18.3.2.4    Financial Summary
            18.3.2.5    Certifications
        18.3.3    Osram
            18.3.3.1    Company Overview
            18.3.3.2    Product Portfolio
            18.3.3.3    Demographic Reach and Achievements
            18.3.3.4    Financial Summary
            18.3.3.5    Certifications
        18.3.4    Signify Holding
            18.3.4.1    Company Overview
            18.3.4.2    Product Portfolio
            18.3.4.3    Demographic Reach and Achievements
            18.3.4.4    Financial Summary
            18.3.4.5    Certifications
        18.3.5    Others
19    Industry Events and Developments


List of Key Figures and Tables

1.    Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
2.    Global LED Lighting Historical Market: Breakup by Region (USD Billion), 2018-2023
3.    Global LED Lighting Market Forecast: Breakup by Region (USD Billion), 2024-2032
4.    Global LED Bulb Market: Key Industry Highlights, 2018 and 2032
5.    Global LED Bulb Historical Market: Breakup by Application (USD Billion), 2018-2023
6.    Global LED Bulb Market Forecast: Breakup by Application (USD Billion), 2024-2032
7.    Global LED Bulb Historical Market: Breakup by Region (USD Billion), 2018-2023
8.    Global LED Bulb Market Forecast: Breakup by Region (USD Billion), 2024-2032
9.    North America LED Bulb Historical Market: Breakup by Country (USD Billion), 2018-2023
10.    North America LED Bulb Market Forecast: Breakup by Country (USD Billion), 2024-2032
11.    Europe LED Bulb Historical Market: Breakup by Country (USD Billion), 2018-2023
12.    Europe LED Bulb Market Forecast: Breakup by Country (USD Billion), 2024-2032
13.    Asia Pacific LED Bulb Historical Market: Breakup by Country (USD Billion), 2018-2023
14.    Asia Pacific LED Bulb Market Forecast: Breakup by Country (USD Billion), 2024-2032
15.    Latin America LED Bulb Historical Market: Breakup by Country (USD Billion), 2018-2023
16.    Latin America LED Bulb Market Forecast: Breakup by Country (USD Billion), 2024-2032
17.    Middle East and Africa LED Bulb Historical Market: Breakup by Country (USD Billion), 2018-2023
18.    Middle East and Africa LED Bulb Market Forecast: Breakup by Country (USD Billion), 2024-2032
19.    Global LED Bulb Market Structure

Key Questions Answered in the Report

The global LED bulb market reached a value of USD 7.80 billion in 2023. 

The market is projected to grow at a CAGR of nearly 9.70% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 17.99 billion by 2032.

The major market drivers include rapid industrialisation, rising disposable incomes, increasing investments in infrastructural development, and surging sales of consumer electronics.

The introduction of favourable government initiatives to promote the use of LED lighting, the surging installations of LED bulbs in downlights and streetlights, and the growing demand for energy-efficient lighting solutions are the key trends guiding the market development.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

Retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others, are the significant applications of LED bulb.

The leading players in the market are General Electric Company, Cree Lighting, Osram, and Signify Holding, among others.
 

Analyst Review

The global LED bulb market attained a value of USD 7.80 billion in 2023 driven by the growth in the infrastructure industry. Aided by the various awareness campaigns and policies in various countries for environmental protection and energy conservation, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9.70%. The industry is projected to reach USD 17.99 billion by 2032. 

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of application, the retrofit sector accounts for the largest share in the global industry. The major regional markets for LED bulb are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include General Electric Company, Cree Lighting, Osram, and Signify Holding, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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