LED Table Lamps Market Growth & Trends
The global LED table lamps market size is expected to reach USD 35.3 billion by 2030 registering a CAGR of 9.5%. Rising demand for the energy-efficient lighting system owing to increasing awareness about global warming is the key factor driving the product sales. In addition, growing popularity of smart homes, especially in developing economies including China and India, is propelling the product demand.
Major manufacturers are introducing advanced products to gain maximum market share. For instance, in December 2016, General Electric Company launched a table lamp that features Amazon’s ‘Alexa’. The company has collaborated with Amazon to fix lamp over the top of Echo Dot device. The new product can be operated through a voice command. Thus, such product innovations in the market are also expected to fuel the industry growth over the forecast period.
Decorative products was the largest segment in 2023 with a market share of more than 60%. Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 16.1% from 2024 to 2030. Key companies in the region are focusing on product optimization along with technological and product innovation to cater to the increasing demand, which is likely to boost the APAC market. For instance, in June 2019, Xiaomi launched its latest LED table lamp for housing segment under the brand name ‘Mi Table Lamp 1S’ in China.
The new product has four different modes and has its own voice-controlled smart assistant. Some of the prominent companies in the global market are Koninklijke Philips N.V.; OSRAM GmbH; Ningbo Liangliang; General Electric Company; SYSKA LED; Panasonic Corp.; GUANYA; OPPLE Lighting; Donghia, Inc.; and Yingke Lighting Electric Co., Ltd.
LED Table Lamps Market Report Highlights
- Commercial application segment led the global LED table lamps market in 2023 and will retain its dominant position throughout the forecast years due to wide product usage in offices, restaurants, etc.
- Decorative lamps is expected to be the fastest-growing as well as the largest product segment during the forecast years.
- Offline distribution channel is the largest segment; however, online segment will expand at the maximum growth rate from 2024 to 2030.
- APAC will be the largest and fastest-growing market from 2024 to 2030 due to the presence of emerging economies along with a number of initiatives and policies encouraging the usage of energy-efficient lighting system.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. LED Table Lamps Market Variables, Trends, & Scope
Chapter 4. LED Table Lamps Market: Type Estimates & Trend Analysis
Chapter 5. LED Table Lamps Market: Application Estimates & Trend Analysis
Chapter 6. LED Table Lamps Market: Distribution Chanel Estimates & Trend Analysis
Chapter 7. LED Table Lamps Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Koninklijke Philips N.V.
- OSRAM GmbH
- Cree Inc.
- Zumtobel Group AG
- Acuity Brands Lighting Inc.
- General Electric Company
- Hubbell Incorporated
- Eaton Corporation PLC
- Panasonic Corporation
- Flos S.p.A.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 18.74 Billion |
| Forecasted Market Value ( USD | $ 35.3 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
