The report on the Light Bulb Market is segmented By Type (LED Light Bulbs, Incandescent Bulbs, Other), Application (Residential, Office, Shop, Hospitality, Others), and Region – COVID-19 Impact Analysis and Forecast to 2026. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2021-2026.

Market Insights

The growth of the light bulb market is driven by the widespread use of light bulbs in numerous applications including buildings, offices, and commercial plazas among others. Increasing residential and commercial construction activities across geographies is likely to drive the growth of the global light bulb market at a significant rate during the review period. In addition to this, rising demand for advanced light bulbs is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Key players

Some of the major players operating in the global Light Bulb Market are-

  • Osram Licht AG (Germany)
  • Koninklijke Philips N.V. (Netherlands)
  • GE Lighting (US)
  • Acuity Brands, Inc. (US)
  • Eaton Corporation plc (Ireland)
  • Cree, Inc. (US)a
  • Panasonic Corporation (Japan)
  • Toshiba Corporation (Japan)
  • Sharp Corporation (Japan)
  • Zhejiang Yankon Group Co., Ltd. (China)
  • OPPLE Lighting (China)
  • Hubbell Incorporated (US)
  • The Zumtobel Group (Austria)
  • Nichia Corporation (Japan)
  • Havells India Limited (Noida)
  • Mitsubishi Motors Corporation (Japan)

Report Features

The report provides critical insights into the market dynamics that enables strategic decision making that is critical to the growth of the existing players as well as those planning to enter the market. This report offers an improvised approach to consolidate the growth decisions by covering the following features –

  • Market structure – as it reflects the value chain of different commodities in the market.
  • Drivers and Constraints – as both can affect any element of the marketing mix — product, budget, and place, etc.
  • Market Forecast – a part of the decision-making process. This helps users with facts regarding projected sales dimensions, costs, market shares, and other areas of planning.
  • Competitive landscape and dynamics: The user can determine the strengths and gaps. The information mentioned here will work towards enhancing the brand’s strategy.
  • Growth strategies – allowing a small business to survive unexpected changes, and to grow into a bigger entity, and gain a greater competitive advantage.

Market Dynamics

The report covers maximum factors that affect the Light Bulb Market. According to this report,

The growth of the light bulb market is driven by the widespread use of light bulbs in numerous applications including buildings, offices, and commercial plazas among others. Increasing residential and commercial construction activities across geographies is likely to drive the growth of the global light bulb market at a significant rate during the review period. In addition to this, rising demand for advanced light bulbs is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segments’ Analysis

Application Trends

By application, the light bulb market has been bifurcated into residential, office, shop, hospitality, and others. Under these, the residential segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to increasing residential construction activities across the globe.

Regional Trends

By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the rapidly expanding building and construction industry in developing countries particularly India and China. The market growth in the North American region is expected to be driven by the growing building and construction industry with rising spending on renovation and remodeling of buildings.

Critical Questions Answered in the Report

  • What are the key trends in the global Light Bulb Market?
  • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
  • What is the impact of COVID-19 on global Light Bulb Market?
  • What are the key strategies adopted by the major vendors to lead in the global Light Bulb Market?
  • What is the market share of the top vendors?

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