Filament LED Bulb Market Size, Trends and Growth Analysis by 2027

The filament LED bulb market is projected to expand significantly, with an anticipated increase from US$ 1,433.19 million in 2021 to US$ 6,621.39 million by 2028. This growth represents a compound annual growth rate (CAGR) of 24.4% over the period from 2021 to 2028.

A key factor driving this market expansion is the growing awareness of the benefits associated with filament LED bulbs. Historically, LED light sources such as COB plug patches and integrated high-power LED lamps were limited to functioning as flat light sources in optical devices that did not utilize lenses. However, the advent of LED filament technology has overcome these limitations, employing advanced porous metal substrate single crystal welding techniques to achieve a true 360-degree solid light source. This innovation eliminates the complications associated with lens effects and optical distortions.

Moreover, filament LED bulbs utilize a blue and red chip packaging method instead of relying on traditional blue and green phosphors to enhance brightness. This approach not only creates a conventional lighting effect but also improves light efficiency and brightness, making filament LED bulbs a more effective lighting solution.

In comparison to other LED lighting options, filament LED lamps predominantly utilize sapphire substrates and wicks, which are more sustainable than non-renewable aluminum and non-biodegradable plastics. Currently, the most common models feature chip packages of 25, 28, or 32, which require fewer LED chips than standard packages. This reduction in chip usage contributes to a lower overall cost compared to conventional LEDs. The increasing awareness of these advantages, bolstered by ongoing marketing efforts and advertisements from manufacturers, is further driving the adoption of filament LED bulbs for various lighting applications, thus propelling market growth.

Consumers in both developed and developing nations are increasingly focused on creating aesthetically pleasing environments in their homes and commercial spaces. However, the COVID-19 pandemic has caused significant disruptions in the development of lighting systems. Additionally, labor shortages have hindered the maintenance and renovation of interior spaces, leading to the closure of numerous small cafes and eateries due to financial difficulties.

The filament LED bulb market is categorized based on product type, application, and geographical region. In terms of product classification, the market is divided into four categories: 0-25 Watt Type, 25-40 Watt Type, 40-60 Watt Type, and Above 60 Watt Type. When considering applications, the market is segmented into residential, restaurants and bars, hotels, cafes, and others. Geographically, the filament LED bulb market is divided into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Notably, North America held a substantial share of the global market in 2020.

Prominent players in the global filament LED bulb market include Crompton Lamps Ltd, Havells India Ltd., Wipro Consumer Lighting, MEGAMAN, OSRAM GmbH, Signify Holding (Philips), Feilo Sylvania Europe Limited, UKLED, Verbatim Americas LLC, and Seoul Semiconductor Co., Ltd., among others.

The overall size of the filament LED bulb market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast of the filament LED bulb market across all segments. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the data and gain deeper analytical insights. Participants in this research included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the filament LED bulb sector.