USD 82.21 billion
LED Table Lamps Market Size, Share, Growth Analysis, By Product(Reading and Decorative), By Application(Household and Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25H2014 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
59
|Figures:
75
LED Table Lamps Market Insights
LED Table Lamps Market size was valued at USD 82.21 billion in 2019 and is poised to grow from USD 93.97 billion in 2023 to USD 272.67 billion by 2031, growing at a CAGR of 14.25% in the forecast period (2024-2031).
The key growth driving factors for the market are Increasing demand for energy-efficiency and sustainable lighting systems. The growing popularity for smart homes, especially in developing economies including China and India, is propelling the demand of products. Over the past few years’ climate change has become a major issue in the World. Due to this issue people are becoming aware about energy conservation, which will have a positive impact on the product demand.
LED table lamps are energy efficient as they consume about 80% less power than incandescent lamps. An estimated savings of USD 18 billion in electricity costs can be achieved by transitioning to energy-efficiency LEDs. More than 160 million metric tons of carbon dioxide emission can be avoided every year. As lighting accounts for nearly 10% of electricity usage in households and 18-40% of commercial premises.
There is a growing need for energy saving across the world, which is creating scope for the market. It is expected that the transition to energy-efficient lighting would reduce the global electricity demand for lighting by 30-40% in 2019.
US LED Table Lamps Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Reading
Fastest Growth
Reading
Growth Rate
14.25% CAGR
Global LED Table Lamps Market ($ Bn)
Country Share for Aisa Pacific Region (%)
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LED Table Lamps Market Segmental Analysis
Led table lamps market is segmented based on product, application, and region. Based on product, it is segmented into reading and decorative. Based on application, it is segmented as household, commercial. Based on the region it is segmented as North America (USA), Europe (UK, Germany, France), Asia Pacific (China, India), Middle East and Africa (South Africa, Egypt), Latin America (Brazil).
LED Table Lamps Market Analysis by Product
Based on Product, the decorative market lamps held the largest market share of more than 60%. These are energy-efficient, lightweight, and durable products used as the decorative indoor lighting system in residential as well as commercial application. The segment growth will be boosted by constant product innovation, in terms of technology, various colour shades, design, and shadow patterns. Household application is expected to be the fastest-growing segment at a CAGR of 15.6%.
LED Table Lamps Market Analysis by Application
Based on Application, it is segmented as Household, Commercial. Commercial segment held the largest market share. LED table lamps are used as an energy-efficient lighting solution and widely used in offices, restaurants, and several other commercial spaces.
Global LED Table Lamps Market By Product
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LED Table Lamps Market Regional Insights
Asia pacific was the largest regional LED table market and will expand further at maximum growth rate of 16.1% owing to increased product usage in residential applications. The East Asia and South Asia regional segments have enjoyed the largest share in LED desk market on account of East Asia’s consolidation economics and growing economics of India, China, Bangladesh, and Southeast Asia region. India is a lucrative market in this region. New product launches in key markets including China and India are expected to boost product demand. Due to industrialization and urbanization the people in Asia Pacific are aware about the sustainable energy which led to the growth of the market in Asia Pacific.
The European regional segment is the other fast-growing segment, mainly on account of several favourable government policies in countries like Sweden, Germany and France that promote use of energy-efficient products like LED desk lamps. For the LED desk lamp, Europe will continue to be the key end-user owing to high R&D and manufacturing investment. Followed by Europe, North America is another large regional segment for LED. North America is expected to dominate the global market in terms of revenue generated, owing to the high demand for LED desk lamps. During the forecast period, Latin America is expected to witness the fastest CAGR.
Global LED Table Lamps Market By Region
- Largest
- Fastest
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LED Table Lamps Market Dynamics
LED Table Lamps Market Drivers
Rise of Sustainable Energy Options will Bolster Market Growth
- Due to the increase in urbanization and industrialization in the country the awareness has increased about sustainable energy. Concern over climate change and global warming have created a need for energy-efficient electronic products, both at public and government levels. This has resulted in an increasing number of people opting for LED desk lamps. It increases the market growth. The LED desk lamp market has also benefited tremendously from market friendly government policies and subsidies in several countries, including developing in Asia, Africa and Latin America. The leading trends of smart homes has created a pathway for development of automatic devices which are functional as well as embellishing for Morden home and workplace.
LED Table Lamps Market Restraints
High Setup Cost to Hinder Market Growth
- The current pricing of these drives depends on volume of the product, maturity of the market, and penetration of the product into the market, due to this high initial setup cost is a major restraint of the market. Also, in emerging markets, such as Asia Pacific, the cost of installation of LED lightning drives is high. This is a time bound restraint, as the market in the region is currently undergoing a development phase. This is because, currently, the cost of LED drivers is on a higher side and it is expected to decline with advancements in the technology of LED drivers.
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LED Table Lamps Market Competitive Landscape
The LED lighting market is fragmented due to many regional and international players across the world like Heliospectra AB, Dialight PLC, Eaton Corporation, General Electric Company (Savant Systems Inc.), and OSRAM GmbH. These businesses, who have a significant market share, are using smart joint ventures to grow their market share and boost their profitability. Nonetheless, thanks to product breakthroughs and technical advancements, mid-sized and smaller businesses are expanding their market presence by winning new business and entering untapped sectors.
LED Table Lamps Market Top Player's Company Profiles
- 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.
- Artemide S.p.A.
- Targetti Sankey S.p.A.
- Luceplan S.p.A.
- Delta Light NV
- TAL International Group Co., Ltd.
- Signify Holding B.V.
- Hinkley Lighting Inc.
- Kichler Lighting LLC
- Eglo Group
- Jasco Products Company LLC
LED Table Lamps Market Recent Developments
- In January 2021, Opple Lighting announced the launch of its new product line in India. The EcoMax COB Spotlight comprises an innovative lens for a clean beam, the V7 LED bulb has a wide beam angle greater than 180 degrees, the US Spot Utility is a flicker-free clean beam, and the 'HPB E-1' has a high lumen output of 100lm/w and is flicker-free.
- In February 2021, Orient Electric announced the launch of its emergency LED lights solutions which provide backup lighting for up to 4 hours during a power outage. The range includes LED Bulbs, LED Batten, LED Recess Panel, and Bulkhead.
LED Table Lamps Key Market Trends
- With enormous potential for growth, recent advancement in light-emitting diode technology has allowed LED lighting products to penetrate the commercial lighting market. Commercial buildings, including offices, stores, restaurants, hospitals, and schools account for almost 20% of US total energy consumption, 38% of this energy consumption is attributed to lighting. In the commercial sector of different countries as the urbanization and construction activities are increasing rapidly it is expected to fuel the studied market demand in the foreseen period.
LED Table Lamps Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global LED table lamps market analysis , they are incorporated with various lighting options such as LED, fluorescent, halogen, hue light, and others which have expanded the choice of table lamp according to the requirement of the customer. Earlier the table lamps were limited to be used as study lamps but development of elegant handmade and advanced designer table lamps has presented the use of table lamps for household decorations.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 82.21 billion |
| Market size value in 2031 | USD 272.67 billion |
| Growth Rate | 14.25% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on LED Table Lamps Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on LED Table Lamps Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the LED Table Lamps Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the LED Table Lamps Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the LED Table Lamps Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the LED Table Lamps Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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