Based on a solid-state technology, LED bulbs emit visible light from a semiconductor chip when an electric current passes through them. These bulbs are up to 80% more efficient and considerably more durable and last up to six times longer than traditional lighting such as fluorescent and incandescent bulbs. Unlike incandescent bulbs, LED bulbs do not cause any heat build-up and help to reduce additional air conditioning costs as 95% of the energy in these bulbs is converted into light and only 5% is wasted as heat. LED bulbs are environment friendly as they do not contain toxic materials and help to reduce carbon dioxide emissions. Furthermore, LED bulbs also have a better quality of light distribution as they focus light in one direction as compared to other types of bulbs.
Figure 1: Comparison Between LED Bulbs Vs. Traditional Lighting Technologies
Need for low energy consumption and green building projects driving the market
The global LEDbulb market has experienced a strong growth over the past several years. Absence of harmful liquid mercury and greater power efficiency have allowed LED bulbs to successfully penetrate the global lighting market. One of the most significant factors that is boosting the demand for LED bulbs is the growing need for low energy consumption across the globe. A rise in green building projects is also contributing towards the growth of the global LED bulb market. Other factors such as increasing population, growing urbanisation rates, infrastructural growth as well as government initiatives to reduce greenhouse gas emissions are further stepping up the growth of this market.
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Key application areas
LED bulbs have been used as power indicators for appliances since the beginning and are now swiftly revolutionising the global lighting market. They are extensively being used in both the commercial as well as the residential spaces which include offices, hotels, restaurants, malls, showrooms and hospitals. LED bulbs are also suitable for use with small portable generators which can be used by homeowners for backup power in emergencies.
Popular shapes and sizes
In recent years, LED dimmers have gained much popularity and are rapidly replacing halogen down lights and indoor spotlights. LED bulbs are currently available in many colour temperatures ranging from warm light (yellow) to cool daylight (white) which give the consumers complete control over the lighting of the area. These bulbs are also available in many shapes and sizes which include LED bulb (spot light), LED bulb (classic globe), LED bulb (mini globe), LED bulb (flame tip), LED bulb (candle light) and LED bulb (deco light). Some of the frame designs used for LED bulb lights include thermoplastic housing, aluminium housing and aluminium housing with plastic coating.
China represented the largest market
On a geographical front, the global LED bulb market has a presence in many countries across the globe. China represented the world’s largest market for LED based lighting products and accounted for the majority of the global market share. Other major markets include Europe, North America, Asia-Pacific, Japan, the Middle East & Africa and Latin America.
Based on competitive landscape analysis, the highly fragmented global market for LED lighting features a number of small and big players operating in this market. Nichia represented the largest player in this market and accounted for nearly one-fifth of the total global sales. Other top players include Osram, Samsung Electronics, Everlight Electronics, LG Innotek, Epistar, Seoul Semiconductor, Cree, Lumileds and Mulinsen.
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