Long-life, lower power usage, and vibration and shock resistance are making miniature bulbs ideal for various industries such as aerospace, healthcare, automotive, and railways. Also, for optimal brightness and saturation, the demand for smart miniature bulbs is increasing rapidly across the world. Moreover, the increasing use of miniature bulbs for outdoor applications such as roadways, traffic lights, tunnels, and parking lots is expected to create significant growth opportunities for the miniature bulbs market. In addition to this, the increasing demand for miniature bulbs for operations on low-voltage power sources such as battery-generator systems and dry cell or storage batteries is also one of the major factors which is fuelling the growth of the market.
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Technology advances such as smart lights and LED innovations are making the global miniature bulbs market more competitive than ever. Within the lighting industry, LED technology has become one of the driving forces behind new miniature bulb concepts and applications. Such advances are generating the demand for miniature bulbs in indoor as well as in outdoor applications. In parallel, continued developments in the lighting industry and rapid modernization are the major factors which are fuelling the demand for miniature bulbs. The governments in several countries such as India, China, Germany, Japan, U.S., etc., are taking initiatives to develop smart city projects and developing smart transportation infrastructure. These government initiatives are anticipated to fuel the growth of the global miniature bulbs market.
The increased competition from alternative technologies such as LED, and their complex structure, may limit the growth of the miniature bulbs market.
Miniature Bulbs Market: Segmentation
The global miniature bulbs market can be segmented as:
Segmentation of the miniature bulbs market on the basis of voltage range:
10V – 19V
20V – 99V
100V – 150V
Segmentation of the miniature bulbs market on the basis of base:
Segmentation of the miniature bulbs market on the basis of application:
Segmentation of the miniature bulbs market on the basis of vertical:
Miniature Bulbs Market: Competition Landscape
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Some of the major players in the global miniature bulbs market are Norman Lamps, Grainger, Sunray Lighting, Inc., GE Lighting, Standard Products, Inc., Semmer Lighting Company, Inc., EmeryAllen, LLC, OSRAM Sylvania Inc., Bulbrite, and MaxLite, Inc.
Miniature Bulbs Market: Regional Overview
On the basis of geography, Asia Pacific is the large market for miniature bulbs, due to the increasing demand for miniature bulbs and rapid increase in the number of automobiles in various countries of the region. North America and Europe are also expected to create potential growth opportunities for the miniature bulbs market, owing to developments in the lighting infrastructure and demand for energy-efficient miniature bulbs in these regions. In addition to this, the unorganized market of miniature bulbs in China, Japan, and India is creating a competitive environment for global miniature bulb manufacturers. Latin America and Middle East & Africa are also expected to create growth opportunities for miniature bulbs market, owing to the development in the lighting infrastructure and ongoing smart cities projects.