LED Table Lamps Market– Statistics And Analysis & Forecast To 2025

Posted by Mrudula Anil Karmarkar on June 9th, 2021

The global LED table lamps market size is expected to reach USD 13.37 billion by 2025 registering a CAGR of 15.2%, according to a new report by Grand View Research, Inc. 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 2018 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 2019 to 2025. 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.

Also, the growing popularity of smart homes, especially in developing economies including China and India, is propelling the product demand. Over the past few years, climate change has become one of the major issues in the world. This has increased the awareness of energy conservation, which will have a positive impact on product demand. LED table lamps are very energy-efficient as they consume 80% less power than incandescent lamps.

Further key findings from the study suggest:

• Commercial application segment led the global LED table lamps market in 2018 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 2019 to 2025
• APAC will be the largest and fastest-growing market from 2019 to 2025 due to the presence of emerging economies along with a number of initiatives and policies encouraging the usage of energy-efficient lighting system

Furthermore, these products have greater durability and can last up to 40 times longer than incandescent lamps. These factors are also likely to boost product demand over the forecast period. Also, several initiatives, such as media campaigns, subsidies for LED lighting, and regularizing the energy appliances, undertaken by various governments across the globe will spur the market growth.

For instance, in June 2016, the Egyptian Electricity Ministry started the awareness campaign to encourage the citizens to rationalize their energy consumption. This campaign was also released on social media and radio advertisements. Don’t be too lazy to turn off an appliance”. Egypt is one of the third-largest and fastest-growing economies of Africa and is the largest consumer market in the Middle East and Africa region.

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The market is slightly consolidated on account of the presence of key companies including Koninklijke Philips N.V., OSRAM GmbH, Ningbo Liangliang, General Electric Company, and SYSKA LED. This industry has been witnessing a trend, where established as well as new entrants are capturing a strong share of the market and focusing on technological developments, and product optimization and performance enhancement. Furthermore, these companies have undertaken several marketing strategies including product innovation, distribution channel expansion, and merger & acquisition, to gain a larger customer base.

Grand View Research has segmented the global LED table lamps market on the basis of product, application, distribution channel:

LED Table Lamps Product Outlook (Revenue, USD Million, 2015 - 2025)

• Reading
• Decorative

LED Table Lamps Application Outlook (Revenue, USD Million, 2015 - 2025)

• Household
• Commercial

LED Table Lamps Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

• Offline
• Online

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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