North America Filament LED Bulb Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (0–25-Watt Type, 25–40-Watt Type, 40–60-Watt Type, and Above 60-Watt Type) and Application (Residential, Restaurants and Bars, Hotels, Café, and Others)
Market Introduction
The US, Canada, and Mexico are the key contributors to the North America filament LED bulb market. According to the United States Department of Energy, LED adoption resulted in energy savings of 1.3 quadrillion Btu (quads) in 2018, equivalent to US$ 14.7 billion in consumer savings and nearly 5% of total electricity use from buildings in 2018. LED product installations increased in all applications across the region from 2016 to 2018, approximately doubling to 2,325 million units, or 30% of total general illumination lights. A-type lamps now account for nearly half of all LED lighting installations, with a 32.9% installed penetration in this application. Decorative lamps now have the lowest installed LED penetration, though this has increased from 7.9% to 16% between 2016 and 2018. Although LEDs have a higher penetration rate in outdoor lighting (51.4%) than indoor lighting (29.8%), total LED installations in indoor applications are significantly higher (2.2 billion vs 100 million). Low/high bay fixtures and A-type bulbs have produced the most energy savings in indoor applications to date across the US. Low/high bay and linear fixtures, which are hallmarks of commercial and industrial buildings that demand high light output and long operation hours, account for most possible savings. Connected capabilities, which are critical for achieving maximum lighting energy and cost savings, help these buildings the most. The outdoor sector, on the other hand, has witnessed more LED adoption in practically every application than the interior sector, accounting for 40% of overall LED lighting energy savings in 2018. Thus, the high adoption of LED bulbs across both commercial and residential places across the region is expected to contribute to the growth of the market over the years.
Because of favorable government policies to encourage innovation, the presence of a large industrial base, and high purchasing power, North America is one of the most important regions for adopting and developing new technologies, particularly in developed countries such as the United States and Canada. As a result, any influence on industry growth is projected to have a negative influence on the region's economic growth. Businesses in the region have been significantly impacted by COVID-19 in four key areas: supply chain/operations, personnel, 2020 investments, and product offering. According to World meter, there were 30,774,033 cases documented in the United States alone as of March 24th, 2021. Due to the extreme measures adopted during the pandemic, overhead expenditures, including expenditure for sales, research and development (R&D), and administration of various providers, declined unfavorably in the first nine months. Despite the impact of the global outbreak, profitability increased, owing to continual cost structure improvement. The adoption of good interiors is more across the region but due to COVID-19 the development of lighting systems got hampered. Furthermore, the maintenance and renovation of indoor infrastructure also got hindered, owing to less presence of labor in this pandemic period. Several small café and restaurants got out of business owing to bankruptcy. The outbreak of the pandemic has also led this business to concentrate more on online deliveries rather than dine in services. Thus, the above-mentioned factors have negatively impacted the filament LED bulb market during the pandemic
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Market Overview and Dynamics
The filament LED bulb market in North America is expected to grow from US$ 341.96 million in 2021 to US$ 1,473.26 million by 2028; it is estimated to grow at a CAGR of 23.2% from 2021-2028. Increase in adoption of filament LED bulbs across restaurants, hotels, bars, and cafes; the lighting at a restaurant is an important aspect of the overall design. Cafes and restaurants should incorporate lighting into their architectural plans as well. Lighting solutions are as important as the food and service is the environment of the café and restaurant. In cafes, bars, and restaurants, light intensity of 150 lux is generally recommended. Among other areas, entrances require 100 lux, food storage section requires 150 lux, washing section needs 300 lux, and cooking section requires 500 lux. Restaurants use four types of lighting: general lighting, accent lighting, decorative lighting, and natural lighting. In a cafe or restaurant, general lighting is the most significant feature. Homogeneous lighting is achieved by placing lighting equipment in a certain order at equal intervals. Customers will perceive the restaurant as more welcoming if it has decent overall illumination. Accent lighting can be utilized to draw focus to the areas of the restaurant that one wishes to draw attention to. This type of lighting can draw attention to the restaurant's decor, plants, tables, or merchandise. Decorative lighting refers to the lighting accessories that are employed to complete the design. Both traditional and modern lighting can be used to create decorative lighting. It can also be achieved by using specific lighting techniques. Thus, the various lighting techniques used in restaurants, hotels, bars, and cafes are influencing the adoption of filament LED bulbs, thereby contributing to the growth of the market.
Key Market Segments
In terms of product, 0-25-Watt type segment held the largest share North America filament LED bulb market in 2020. In terms of application, the residential segment held a larger market share of the filament LED bulb market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the filament LED bulb market in North America 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; MEGAMAN; Feilo Sylvania Europe Limited; UKLED; Verbatim Americas LLC; OSRAM GmbH; Signify Holding (Philips); Seoul Semiconductor Co., Ltd.
Reasons to buy report
- To understand the North America filament LED bulb market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America filament LED bulb market
- Efficiently plan M&A and partnership deals in North America filament LED bulb market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America filament LED bulb market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA FILAMENT LED BULB MARKETSEGMENTATION
- 0-25-Watt Type
- 25-40-Watt Type
- 40-60-Watt Type
- Above 60-Watt Type
By Country
- US
- Canada
- Mexico
Company Profiles
- Feilo Sylvania Europe Limited
- Havells India Ltd
- MEGAMAN
- OSRAM GmbH
- Seoul Semiconductor Co., Ltd.
- Signify Holding (Philips)
- UKLED
- Verbatim Americas LLC
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Filament LED Bulb Market – By Product
1.3.2 North America Filament LED Bulb Market – By Application
1.3.3 North America Filament LED Bulb Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Filament LED Bulb Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Filament LED Bulb Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Commercial and Residential Construction Projects
5.1.2 Rising Awareness About Advantages of Filament LED Bulbs
5.2 Market Restraints
5.2.1 Common Difficulties Faced in Filament LED Bulbs
5.3 Market Opportunities
5.3.1 Surge in Product Innovations and Launches Coupled with High Expansion Strategies
5.4 Future Trends
5.4.1 Increase in Adoption of Filament LED Bulbs Across Restaurants, Hotels, Bars, and Cafes
5.5 Impact Analysis of Drivers and Restraints
6. Filament LED Bulb Market – North America Analysis
6.1 North America Filament LED Bulb Market Overview
6.2 North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Filament LED Bulb Market Analysis – By Product
7.1 Overview
7.2 North America Filament LED Bulb Market, By Product (2020 and 2028)
7.3 0-25-Watt Type
7.3.1 Overview
7.3.2 0-25-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
7.4-40-Watt Type
7.4.1 Overview
7.4.2-40-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
7.5-60-Watt Type
7.5.1 Overview
7.5.2-60-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Above 60-Watt Type
7.6.1 Overview
7.6.2 Above 60-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Filament LED Bulb Market Analysis – By Application
8.1 Overview
8.2 North America Filament LED Bulb Market, By Application (2020 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Restaurants and Bars
8.4.1 Overview
8.4.2 Restaurants and Bars: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Hotels
8.5.1 Overview
8.5.2 Hotels: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Café
8.6.1 Overview
8.6.2 Café: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Filament LED Bulb Market – Country Analysis
9.1 Overview
9.1.1 North America: Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2 North America: Filament LED Bulb Market, by Key Country
9.1.2.1 US: Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.1 US: Filament LED Bulb Market, by Product
9.1.2.1.2 US: Filament LED Bulb Market, by Application
9.1.2.2 Canada: Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.1 Canada: Filament LED Bulb Market, by Product
9.1.2.2.2 Canada: Filament LED Bulb Market, by Application
9.1.2.3 Mexico: Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.1 Mexico: Filament LED Bulb Market, by Product
9.1.2.3.2 Mexico: Filament LED Bulb Market, by Application
10. Impact of COVID-19 Pandemic on North America Filament LED Bulb Market
10.1 North America
11. Industry Landscape
11.1 Market Initiative
11.2 New Development
12. Company Profiles
12.1 Havells India Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 MEGAMAN
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Feilo Sylvania Europe Limited
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 UKLED
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Verbatim Americas LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 OSRAM GmbH
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Signify Holding (Philips)
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Seoul Semiconductor Co., Ltd.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Filament LED Bulb Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Filament LED Bulb Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Filament LED Bulb Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Filament LED Bulb Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: Filament LED Bulb Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Filament LED Bulb Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Filament LED Bulb Market Segmentation
Figure 2. North America Filament LED Bulb Market Segmentation – By Country
Figure 3. North America Filament LED Bulb Market Overview
Figure 4. 0-25-Watt Type Product Segment held the Largest Share of North America Filament LED Bulb Market
Figure 5. Residential Segment held the Largest Share of North America Filament LED Bulb Market
Figure 6. US to Show Great Traction During Forecast Period
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Filament LED Bulb Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Filament LED Bulb Market Revenue Share, by Product (2020 and 2028)
Figure 12. 0-25-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13.-40-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14.-60-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Above 60-Watt Type: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Filament LED Bulb Market Revenue Share, by Application (2020 and 2028)
Figure 17. Residential: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Restaurants and Bars: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Hotels: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Café: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: North America Filament LED Bulb Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America: Filament LED Bulb Market – Revenue by Country To 2028 (US$ Million)
Figure 23. North America: Filament LED Bulb Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. US: Filament LED Bulb Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Canada: Filament LED Bulb Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. Mexico: Filament LED Bulb Market – Revenue and Forecast To 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets
- Feilo Sylvania Europe Limited
- Havells India Ltd
- MEGAMAN
- OSRAM GmbH
- Seoul Semiconductor Co., Ltd.
- Signify Holding (Philips)
- UKLED
- Verbatim Americas LLC
- To understand the North America filament LED bulb market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America filament LED bulb market
- Efficiently plan M&A and partnership deals in North America filament LED bulb market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America filament LED bulb market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region