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Report Overview
The global LED bulb market was valued at USD 7.80 Billion in 2024. The market is further estimated to grow at a steady CAGR of 9.70% during the forecast period of 2025-2034 to reach USD 19.69 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Compound Annual Growth Rate
Value in USD Billion
9.7%
2025-2034
LED Bulb Market Outlook
*this image is indicative*
| Global LED Bulb Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 7.80 |
| Market Size 2034 | USD Billion | 19.69 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 9.70% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 10.9% |
| CAGR 2025-2034 - Market by Country | India | 12.5% |
| CAGR 2025-2034 - Market by Country | China | 10.5% |
| CAGR 2025-2034 - Market by Application | Architectural | 11.2% |
| Market Share by Country 2024 | Italy | 3.4% |
Based on the application, the retrofit segment dominated the market in 2020, followed by retail and hospitality, as LED bulbs are swiftly replacing the conventional lighting systems. Regionally, India accounted for a significant share of the LED bulb market on account of the increase in the local manufacturing of LED products and several government initiatives.
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Segmentation
Light emitting diodes (LEDs) are one of the latest technological advancements in the lighting industry. LED bulb refers to an electric lamp comprising of numerous clusters of LEDs which are mounted on a base. In comparison to the conventional lighting sources, LED bulbs are associated with many advantages such as compact size, reduced energy consumption, long lifespan, and radiate lesser heat output. Also, LED bulbs are eco-friendly and offer a better colour rendering index (CRI) with zero toxic elements. Additionally, they are available in different shapes, colours, wattages, while some models are also equipped with dimmable controls. On account of this, LED bulbs are widely used in general lighting, healthcare, signal and signage, forensics, and street lighting.
Market Breakup by Application:
- Retrofit
- Retail & Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Industrial
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Analysis
LED bulbs are widely used in various verticals such as automotive, healthcare, general lighting, mobile devices, forensic, signal and signage, street lighting, and academics. Owing to the rapid urbanisation and industrialisation in the emerging economies, the demand for LED bulbs is expected to increase across various end-use industries. Furthermore, escalating global population and increasing sales of consumer electronics is likely to create a surge in electricity consumption. Increasing consumption of electricity, however, has not been supplemented by adequate electricity production, which in turn led to the growing demand for energy-efficient products like LED bulbs.
Further, increasing installations primarily drive the LED bulb market. It includes lights used in streetlights, downlights, high bays, track lights, and suspended pendants for various applications. Also, manufacturers are using unique marketing initiatives through different advertising mediums such as newspapers and television to increase consumer awareness about the advantages of these bulbs and expand their consumer base. Additionally, various awareness campaigns and policies in various countries for environmental protection and energy conservation are expected to augment the demand for LED bulbs over the forecast period. Also, constant encouragement by government and other regulatory bodies, along with rising product awareness amongst the population, is expected to impel the market growth. As a result, LED bulbs have emerged as one of the significant energy-efficient lighting solutions, which are envisaged to drive the LED bulb market forward in the coming years.
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
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USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
| CAGR 2025-2034 - Market by | Country |
| India | 12.5% |
| China | 10.5% |
| USA | 10.3% |
| Germany | 9.6% |
| Mexico | 8.9% |
| Canada | XX% |
| UK | XX% |
| France | XX% |
| Italy | 8.8% |
| Japan | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Australia | 7.4% |
Competitive Landscape
The report gives a detailed analysis of the following key players in the global LED bulb market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- General Electric Company
- Cree Lighting
- Osram
- Signify Holding
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
LED Bulb Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global LED bulb market reached a value of USD 7.80 Billion in 2024.
The market is projected to grow at a CAGR of nearly 9.70% in the forecast period of 2025-2034.
The market is estimated to reach a value of about USD 19.69 Billion by 2034.
The major market drivers include rapid industrialisation, rising disposable incomes, increasing investments in infrastructural development, and surging sales of consumer electronics.
The introduction of favourable government initiatives to promote the use of LED lighting, the surging installations of LED bulbs in downlights and streetlights, and the growing demand for energy-efficient lighting solutions are the key trends guiding the market development.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others, are the significant applications of LED bulb.
The leading players in the market are General Electric Company, Cree Lighting, Osram, and Signify Holding, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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