The filament LED bulb market size is projected to reach US$ 12427.98 million by 2031 from US$ 2163.19 million in 2023. The market is expected to register a CAGR of 22.4% during 2023–2031. The increasing advancement in LED technology is likely to remain a key trend in the market.
Filament LED Bulb Market Analysis
The growth of the market is attributed to the increasing number of commercial and residential construction projects in different regions. Furthermore, the increase in interest in home renovation and remodeling activities, which can be linked to increased government support, particularly in industrialized countries, is also boosting the demand for filament LED bulbs. Rise in consumer income levels, changes in lifestyles, and embrace of diverse cultures in terms of interior decor are contributing to this transition.
Filament LED Bulb Market Overview
LED filament bulbs enhance incandescent bulbs' appearance and light dispersal while using LED technology to provide efficient lighting and reliable performance. LED filament bulbs, commonly referred to as Edison Bulbs, display large glowing filaments through clear glass enclosures and resemble old-fashioned incandescent or vintage lights. LED Filament bulbs provide the look of traditional incandescent bulbs while providing energy-efficient lighting and all the other advantages of traditional LED lighting. LED filament bulbs have a longer lifespan than incandescent bulbs.
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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
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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 |
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Filament LED Bulb Market Drivers and Opportunities
Increase in Adoption of Filament LED Bulbs Across Restaurants, Hotels, Bars, and Cafes
The lighting is an important element in the overall design of restaurants and cafes. In cafes, bars, and restaurants, the light intensity of 150 lux is generally considered appropriate. Other areas require 100 lux, the food storage section requires 150 lux, the washing section requires 300 lux, and the cooking section requires 500 lux. Restaurants employ four types of lighting: general lighting, accent lighting, decorative lighting, and natural lighting. In a cafe or restaurant, general lighting is the most significant aspect. Homogeneous lighting is achieved by placing lighting equipment in a certain order at the same time. Customers will perceive the restaurant as more welcoming if it has a decent overall decoration. Accent lighting can be employed to draw attention to the major or fancy aspects of restaurants, including decor, plants, tables, or merchandise. Decorative lighting refers to the lighting components that are employed to complete the design. 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.
Increasing residential lighting
Lighting is increasing in residential areas. The use of LED bulbs in homes differs from other household characteristics, such as household income and ownership. Among households earning less than $20,000 per year, 39% reported that LED bulbs were their primary indoor lighting choice, while 54% of households earning $100,000 or more per year utilized mostly LED bulbs in 2020. The filament LED bulbs are widely used in residential areas. Thus, the increasing residential lighting is generating more opportunities for the filament LED bulb market.
Filament LED Bulb Market Report Segmentation Analysis
Key segments that contributed to the derivation of the filament LED bulb market analysis are product and application.
- Based on the product, the filament LED bulb market is divided into 0-25-watt type, 25-40-watt type, 40-60-watt type, and above 60-watt type. The 0–25-watt segment held a larger market share in 2023.
- By application, the market is segmented into residential, restaurants and bars, hotels, café, and others.
Filament LED Bulb Market Share Analysis by Geography
The geographic scope of the filament LED bulb market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe led the filament LED bulb market in 2023. In Europe, such as the National Energy Efficiency Action Plans (NEEAPs) and the National Energy Efficiency Action Plans (NEEAPs), the National Energy Efficiency Action Plans (NEEAPs) aim to promote investments in the maintenance and refurbishment of residential and commercial buildings. Further, consumers’ willingness to spend important 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 advance the aesthetic appeal of interiors.
Filament LED Bulb Market Report Scope
Filament LED Bulb Market News and Recent Developments
The filament LED bulb market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the filament LED bulb market are listed below:
- Feit Electric Company, Inc. (“Feit Electric”), a leading global lighting and smart home brand headquartered in California, today announced that a set of patents protects its innovative light bulbs with visible white filaments, the “white filament patents.”
(Source: Trellix, Press Release, October 2023.)
- plus, more LED filament lights were released in January by Life on Products, Inc. (Source: PamTen Inc, Press Release, January 2023)
Filament LED Bulb Market Report Coverage and Deliverables
The “Filament LED Bulb Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Filament LED bulb market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Filament LED bulb market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- filament LED bulb market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the filament LED bulb market
- Detailed company profiles
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
Europe dominates the filament LED bulb market.
The increase in adoption of filament led bulbs across restaurants, hotels, bars, and cafes and the increasing residential lighting are the major factors that propel the global filament LED bulb market.
The increasing advancement in LED technology is anticipated to play a significant role in the global filament LED bulb market in the coming years.
The key players holding majority shares in the global 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, and Seoul Semiconductor Co., Ltd.
The global filament LED bulb market is expected to reach US$ 12427.98 million by 2031.
The expected CAGR of the global filament LED bulb market is 22.4%.
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.
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