Bulb Market Expected to Reach $107.5 Billion by 2034

According to a new report published by Allied Market Research, titled, “Bulb Market," The bulb market size was valued at $66.9 billion in 2024, and is estimated to reach $107.5 billion by 2034, growing at a CAGR of 4.8% from 2025 to 2034.

A bulb is a device that produces light by converting electrical energy into visible light. It typically consists of a base, a light-emitting element, and an outer enclosure made of glass or plastic. Manufacturing involves assembling the base with electrical contacts, attaching the light-emitting component, and sealing the enclosure in a controlled environment to protect internal parts. Bulbs serve as essential sources of artificial lighting for various settings, including homes, offices, streets, vehicles, and industrial spaces. They provide illumination for general visibility, task performance, safety, and decorative purposes across residential, commercial, and public areas.

The rise in demand for energy-efficient lighting solutions has significantly boosted the global bulb market growth. Consumers, industries, and governments are shifting away from traditional incandescent bulbs in favor of LEDs and other low-energy alternatives owing to their longer lifespan, lower electricity consumption, and reduced environmental impact. Regulatory initiatives banning inefficient lighting products have further boosted the adoption of energy-saving technologies, thus driving energy efficient bulb market trends. The EU and countries such as Switzerland have implemented transition with strict regulatory timelines beginning with a 2023 import ban and culminating in a full sales ban from September 2025 on T8 fluorescent lamps, G9 high-voltage halogens, and G4/GY6.35 low-voltage halogen lamps, thus prompting a switch to LED alternatives. As a result, LED bulbs dominate new installations in residential, commercial, and industrial applications, directly contributing to market expansion.

In addition, growth in environmental awareness and the focus on sustainable practices have prompted both private and public sectors to invest in efficient lighting infrastructure. Energy-efficient bulbs reduce operational costs over time, which appeals to cost-conscious users. Technological advancements in LED and smart lighting systems also support greater functionality, such as dimming, automation, and connectivity with building management systems. All such factors collectively create favorable conditions for consistent growth in the bulb segment, especially in regions actively investing in energy reforms and infrastructure upgrades.

However, environmental hazards associated with mercury content in fluorescent and compact fluorescent lamp (CFL) bulbs have restrained the growth of the global bulb market share by discouraging adoption across residential, commercial, and institutional sectors. Fluorescent and CFL bulbs contain small amounts of mercury, which poses risks during breakage, disposal, and recycling. Improper handling can lead to environmental contamination and health concerns, prompting stricter regulatory controls and disposal guidelines in several countries. Growing awareness regarding mercury-related hazards has influenced purchasing decisions, with many consumers and businesses opting for mercury-free lighting alternatives such as LED bulbs. As environmental regulations become more stringent, retailers and distributors are reducing inventory and availability of fluorescent and CFL products, contributing to declining demand.

Moreover, recycling infrastructure for fluorescent and CFL bulbs remains underdeveloped in many regions, especially in developing economies, leading to improper disposal and increased risk of environmental damage. Industries and municipalities face rising costs associated with safe disposal and compliance with hazardous waste regulations. Government policies and public health campaigns highlighting the risks of mercury exposure have further boosted the transition toward safer lighting solutions. Thus, reduced consumer confidence and regulatory pressure related to mercury content in fluorescent and CFL bulbs have restrained growth in the global market for bulbs.

Furthermore, expansion in low-power solar lighting for off-grid areas is anticipated to create significant opportunities in the global bulb market forecast. Many remote and rural regions lack reliable access to electricity, thus increasing demand for alternative lighting solutions. Low-power solar bulbs offer an efficient and sustainable option by harnessing solar energy, reducing dependence on traditional power sources. Affordable and easy to install, low-power solar lighting systems address energy access challenges while lowering operational costs for users. Rising awareness about environmental sustainability and government initiatives promoting renewable energy solutions further support market growth in the solar lighting segment. Solar lighting also improves quality of life by enabling extended hours of activity and enhanced safety in areas without grid connectivity.

Consequently, manufacturers are increasingly focusing on developing advanced low-power solar bulbs with improved battery life, brightness, and durability to meet the unique needs of off-grid consumers. Partnerships between governments, NGOs, and private companies help expand distribution networks and accessibility in underserved markets. As solar technology becomes more cost-effective and efficient, adoption rates for low-power solar bulbs are expected to rise steadily. The growing shift toward renewable energy and off-grid lighting solutions presents a strong growth opportunity for the global bulb market expansion, thereby driving innovation and expanding reach to previously unserved populations.

The bulb market analysis is done on the basis of product type, technology, application, distribution channel, and region. By product type, the market is categorized into incandescent bulbs, LED bulbs, halogen bulbs, fluorescent bulbs, compact fluorescent lamps, and others. By technology, the market is divided into smart bulbs and non-smart bulbs. By application, the market includes residential, commercial, and industrial segments. The commercial segment comprises retail, hospitality, office and corporate spaces, educational institutions, and others, whereas the industrial segment includes manufacturing facilities, warehouses and logistics, roadway and infrastructure lighting, and utilities and energy. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, departmental stores, online sales channels, and others. By region, the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

By region, Asia-Pacific is anticipated to dominate the bulb market with the largest share during the forecast period. The dominance of the Asia-Pacific region is driven by rapid urbanization and industrialization in countries such as China, India, Japan, and Southeast Asian nations. Expanding infrastructure projects and growing construction activities create substantial demand for lighting solutions across residential, commercial, and public sectors. Rising population and increasing disposable incomes in this region encourage the adoption of modern and energy-efficient lighting products. In addition, government policies promoting energy conservation and phasing out inefficient lighting technologies have boosted market growth. The presence of numerous manufacturers and suppliers in the Asia-Pacific region has led to support competitive pricing along with availability of various bulb categories, and is expected to drive steady market growth in coming years.

The key players operating in the global bulb industry include Acuity Brands Inc., ams-OSRAM AG., Cree LED, Inc., Current (HLI Solutions, Inc.), Eaton, Everlight Electronics Co., Ltd., GE Lighting (Savant Technologies LLC), Nichia Corporation, Philips Lighting, Seoul Semiconductor Co., Ltd., and Zumtobel Group.

Key Findings of the Study 

• By product type, the LED bulbs segment was the highest revenue contributor in 2024.

• By technology, the non-smart bulbs segment dominated the global bulb market in 2024.

• By application, the residential segment contributed to major market share in 2024.

• By distribution channel, the B2B segment dominated the global bulb market in 2024.

• Region-wise, North America was the highest revenue contributor in 2024.