Report : South 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)
Residential Segment to Dominate SAM Filament LED Bulb Market during 2020–2028
According to a new market research study on “SAM Filament LED Bulb Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application,” is expected to reach US$ 433.13 million by 2028 from US$ 90.88 million in 2021. The market is estimated to grow at a CAGR of 25.0% from 2021 to 2028. The report provides trends prevailing in the SAM filament LED bulb market along with the drivers and restraints pertaining to the market growth. Rising awareness about advantages of filament LED bulbs is the major factor driving the growth of the SAM filament LED bulb market. However, common difficulties faced in filament LED bulbs hinder the growth of SAM filament LED bulb market.
In the SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The sharp decline in the sales of the lighting solutions in the region due to lockdown measures is expected to directly impact the growth of the filament LED bulb market. Moreover, decline in business activities by café, restaurants, hotels, and bars are also imposing a negative impact on the growth of the market
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 SAM 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 SAM filament LED bulb market. Based on country, market is segmented as Brazil, Argentina, Rest of SAM
Feilo Sylvania Europe Limited Y; MEGAMAN; Seoul Semiconductor Co., Ltd.; Signify Holding (Philips); UKLED; Verbatim Americas LLC; are among the leading companies in the SAM 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 2018, Since the company went through various restrictions and limitations since March 2020, manufactured as energy efficient and cost-effective replacements for traditional incandescent lamps, Verbatim LED S14 Lamps are ideal for use in signage applications. Wet rated and enclosed rated, these LED lamps are ideal for outdoor use as well.
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