Published Date : Jul 23, 2018
ALBANY, New York, July 23, 2018 - The global LED light bulb market is envisaged to improve growth with rising awareness about the impressive properties of products available. For instance, compared to a typical incandescent and compact fluorescent, an LED light bulb could last several times longer. A report put on sale by MarketResearchReports.biz gives a detailed account of market dynamics, segmentation, competitive landscape, and other vital aspects. It bears the title “Global LED Light Bulb Market Research Report 2017-2022 by Players, Regions, Product Types & Applications.” There are different types of products offered in the market which different based on dimmable controls, shapes, bases, colors, and watts.
Each of the products available in the global LED light bulb market has specific uses in a range of applications. This could be evidenced by the use of omnidirectional LED light bulb in applications where lights stay on for longer periods of time. Similar to older incandescent bulb in appearance, it could also be used in hallways and lighting rooms. On the other hand, indoor spotlights and halogen down lights could be ideally replaced by dimmable LED globes. Offering dimmable control ranging between 100% and 10%, dimmable LED globes consume only 10W power and produce light equivalent to an incandescent bulb of 40W.
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The global LED light bulb market is anticipated to create lucrative growth prospects on the back of government initiatives to ban conventional and inefficient light bulbs. Improved penetration of technology in general lighting, reduced prices, and rising consumer demand for advanced and energy-efficient lighting systems could be other factors pushing the growth of the market. LED light bulb could be produced on a large scale as organizations get attracted to its reducing prices. Use of subsidies by governments to promote energy-efficient lighting is a powerful trend augmenting the demand in the market. India’s UJALA initiative promotes affordable LED light bulb for energy saving. Another instance to follow could be China promoting energy-saving and ecofriendly products.
Development of infrastructure considered by a number of countries across the globe is expected to work in the favor of the global LED light bulb market. Projects such as those related to the building of better flyovers, roadways, and smart cities have upped the demand for LED light bulb due to its longer lifespan, low heat, and high efficiency. With their higher population bases, India and China have been involved in such projects among emerging nations. On the basis of key consumer, the market could see a classification into vaginal cancer screening and cervical cancer screening. By light source, there could be segments such as solar energy and power supply. In terms of power, the market could be classified into 30W, 20W, and 10W.
Some of the important players of the global LED light bulb market are Panasonic, Cree, and Eaton.
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