Asia Pacific Filament LED Bulb Market
No. of Pages: 83 | Report Code: TIPRE00024073 | Category: Electronics and Semiconductor
No. of Pages: 83 | Report Code: TIPRE00024073 | Category: Electronics and Semiconductor
The APAC filament LED bulb market is sub segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. It has enormous growth potential, with fast-growing countries such as China and India and developed countries such as Japan and Australia. Infrastructure development is booming in Southeast Asia, with large projects being approved in Vietnam, Thailand, the Philippines, Malaysia, and Indonesia. In many cases, these were aided by loans and other help from Japan and China. China's infrastructure investments in ASEAN have increased dramatically in recent years. The region is witnessing rapid growth in various sectors, and thereby needs new and upgraded, as well as sustainable infrastructure that exhibits quality and enables further economic growth through generating employment. This has led to the increasing demand for lighting systems across the new infrastructures. An increase in investment on affordable housing development is also predicted to boost the building industry. Governments in Indonesia and India actively provide subsidies on land and construction expenses, as well as reduce the red tape in the planning and approval processes. These initiatives are having a favorable impact on the region's construction industry. The growth of the residential and commercial construction across the region is expected to fuel the growth of the filament LED bulb market.
APAC is characterized by many developing countries, a positive economic outlook, high residential and industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including filament LED bulbs. The lockdown of various factories in China affects the global supply chains and negatively impacts development, delivery schedules, and various products and services. Even as the factories in China are beginning to reopen, several businesses have reduced or hit pause on their operations. The region comprises of several developing countries, which consist of old indoor infrastructure with the old interiors such as flooring. During lockdown, the process of maintenance and renovation of home and other infrastructure got hampered. Besides, the most recorded consequence of COVID-19 is a significant labor shortage in China. China being the manufacturing hub faced difficulties in production processes due to labor shortage. Since the lockdown, migrant workers who had returned to their hometowns for the Lunar New Year holiday were unable to return to work. Thus, the outbreak of the pandemic apart from hampering the construction industry have also disrupted the manufacturing and supply chain process of filament LED bulbs across the region, thereby negatively impacting the market growth
Strategic insights for the Asia Pacific Filament LED Bulb provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 586.46 Million |
| Market Size by 2028 | US$ 2,848.52 Million |
| Global CAGR (2021 - 2028) | 25.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Filament LED Bulb refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The filament LED bulb market in APAC is expected to grow from US$ 586.46 million in 2021 to US$ 2,848.52 million by 2028; it is estimated to grow at a CAGR of 25.3% from 2021-2028. Rising awareness about advantages of filament LED bulbs; Previously, LED light sources such as COB plug patches and integrated high-power LED lamps could only be used as a plane light source in optical devices without lenses, but the LED filament broke through this barrier, and the porous metal substrate single crystal welding technology truly realized 360 degrees of solid light source, avoiding the influence of light plus lens effect and optica. Instead of using traditional blue and green phosphors to raise the brightness of the process, the blue + red chip package is used to create the conventional lighting effect and improve the light efficiency and brightness through filament LED bulbs. Additionally, compared to other LED lamps, LED filament lamps primarily use sapphire substrates and wicks instead of nonrenewable aluminum and nonbiodegradable plastic. From the present perspective, mainstream models are often just 25, 28, 32 chip packages, compared to the same number of common packages, the use of LED chip is also less, resulting in a cheaper overall cost than usual LEDs. The rising awareness about the above-mentioned benefits of filament LED bulbs through constant marketing and advertisements by manufacturers is also influencing the adoption of the same for lighting purposes, thereby contributing to the growth of the market.
In terms of product, 0-25-Watt type segment held the largest share APAC filament LED bulb market in 2020. In terms of application, the
A few major primary and secondary sources referred to for preparing this report on the filament LED bulb market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Havells India Ltd
The Asia Pacific Filament LED Bulb Market is valued at US$ 586.46 Million in 2021, it is projected to reach US$ 2,848.52 Million by 2028.
As per our report Asia Pacific Filament LED Bulb Market, the market size is valued at US$ 586.46 Million in 2021, projecting it to reach US$ 2,848.52 Million by 2028. This translates to a CAGR of approximately 25.3% during the forecast period.
The Asia Pacific Filament LED Bulb Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Filament LED Bulb Market report:
The Asia Pacific Filament LED Bulb Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Filament LED Bulb Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Filament LED Bulb Market value chain can benefit from the information contained in a comprehensive market report.
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