North America Filament LED Bulb Market
No. of Pages: 74 | Report Code: TIPRE00024076 | Category: Electronics and Semiconductor
No. of Pages: 74 | Report Code: TIPRE00024076 | Category: Electronics and Semiconductor
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
Strategic insights for the North America 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$ 341.96 Million |
| Market Size by 2028 | US$ 1,473.26 Million |
| Global CAGR (2021 - 2028) | 23.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 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.
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
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
The North America Filament LED Bulb Market is valued at US$ 341.96 Million in 2021, it is projected to reach US$ 1,473.26 Million by 2028.
As per our report North America Filament LED Bulb Market, the market size is valued at US$ 341.96 Million in 2021, projecting it to reach US$ 1,473.26 Million by 2028. This translates to a CAGR of approximately 23.2% during the forecast period.
The North America 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 North America Filament LED Bulb Market report:
The North America Filament LED Bulb Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Filament LED Bulb Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Filament LED Bulb Market value chain can benefit from the information contained in a comprehensive market report.
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