Residential Segment to Dominate MEA Filament LED Bulb Market during 2020–2028

According to a new market research study on “MEA Filament LED Bulb Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application,” is expected to reach US$ 490.64 million by 2028 from US$ 103.91 million in 2021. The market is estimated to grow at a CAGR of 24.8% from 2021 to 2028. The report provides trends prevailing in the MEA filament LED bulb market along with the drivers and restraints pertaining to the market growth. Surge in number of commercial and residential construction projects is the major factor driving the growth of the MEA filament LED bulb market. However, common issues faced in filament LED bulbs hinder the growth of MEA filament LED bulb market.

Among the MEA countries, Turkey, Iran, and South Africa have faced the highest number of COVID-19 cases. Other major countries facing the economic impact of COVID-19 include Iraq, Israel, Morocco, Saudi Arabia, and UAE. The region comprises many growing economies such as UAE and Saudi Arabia, which are prospective markets for Indoor Flooring providers due to the huge presence of a residential, and commercial, sector (including malls, café, restaurants, etc.). The region is projected to register a slight decline in raw material supply and products from various manufacturers across North America, Europe, and Asia-Pacific region, as these regions have halted their production activities and subsequently disrupting the exporting of components and products to other regions. This has impacted the production capabilities of the filament LED bulbs across the region. Additionally, the construction industry was also impacted across the region thereby, creating less or no demand for filament LED bulbs from the newly constructed residential and commercial project. Thus, based on the above-mentioned factors we can conclude that the outbreak of the pandemic across the region had a negative impact on the market growth

The market for filament LED bulb market is segmented into product, application and country. Based on product, market is segmented as 0-25-Watt type, 25-40-Watt type. 40-60-Watt type and Above 60-Watt type. In 2020, the 0-25-Watt type segment held the largest share MEA filament LED bulb market. Based on application the market is divided into residential, restaurants, bars, hotels, cafes and homes, others. In 2020, the residential segment held the largest share MEA filament LED bulb market. Based on country, market is segmented as South Africa, Saudi Arabia, UAE, Rest of MEA

Havells India Ltd; MEGAMAN; Feilo Sylvania MEA Limited; UKLED; Verbatim Americas LLC; OSRAM GmbH; Signify Holding (Philips); Seoul Semiconductor Co., Ltd.; Wipro Consumer Lighting are among the leading companies in the MEA filament LED bulb market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Since the company went through various restrictions and limitations since March 2020, Wipro Consumer Care and Lighting’s quickly shifted its attention to where the consumers were i.e., online. It tried to take it easily by understanding the changing consumer demand and shifts in the media landscape. Their learnings from first wave of COVID-19 helped them in managing the situation easily during the second wave.ac.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com