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LED Table Lamps Market Growth, 2019-2025 | Industry Trend Report

LED Table Lamps Market Analysis Report By Product, By Distribution Channel, By Application And Segment Forecasts From 2019 To 2025

Report ID: MN17619772  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Electronics  |  Publisher: Grand View Research

Industry Insights

The global LED table lamps market size was accounted for USD 4.97 billion, in 2018. It is projected to ascend with a CAGR of 15.2% over the forecast period. Factors such as growing preference for energy saving, sustainable, cost-effective and durable lighting systems are predicted to bode well for the market growth over the estimated period. Further, the rising application of enhanced lighting systems to give a classy to home décor is anticipated to drive the product demand from 2019 to 2025.

The increasing popularity of smart homes, particularly in emerging nations such as India and China are anticipated to proliferate the demand for the product in the coming years. From the past many years, climate change has become a key environmental issue across the globe. This has resulted in growing awareness for energy conservation, which, in turn, is predicted to promote the use of LED lamps. LED table lamps consume 80% less electricity over incandescent lamps.

U.S. LED table lamps market

These products are highly durable and can be used for longer durations over incandescent lamps. Several undertakings such as grants for LED equipment, standardizing the energy appliances, and several media campaigns initiated by governments worldwide are expected to fuel the LED table lamp market growth over the forecast years.

For example, the Egyptian Electricity Ministry in 2016, initiated the awareness campaign to promote energy conservation among their citizens. The campaign was also launched in radio advertising and social media. Egypt is the third largest and rapidly-growing nation in Africa and is the largest regional market in the MEA region.

Product Insights

Decorative table lamps occupied over 60% market share in 2018. These are durable, cost-effective, lightweight, and energy-efficient products used for indoor decoration in the commercial and residential segments. The integration of the latest technologies, such as AI support providing direct control via voice commands, is predicted to boost the demand for the product in the upcoming years.

Factors such as continuous product innovation, shadow patterns, new designs, and several color shades are likely to drive the demand from 2019 to 2025. For example, SYSKA LED in 2018, introduced its brand new ‘Smart Table Lamp’, embedded with Amazon Alexa. Furthermore, the product has excellent power conservation and equipped with three light controls such as Warm White, Cool White and Day Light.

Application Insights

The commercial sector occupied the major market share in 2018. LED lamps are extensively preferred in restaurants, offices, and various other commercial places as they have excellent energy saving capability. Rising in commercial infrastructure in the emerging nations such as Bangladesh, China, and India owing to supportive government measures and growing urbanization are anticipated to open new growth avenues over the estimated duration.

Household application segment is projected to exhibit the fastest CAGR of 15.6% over the forecast years. Increasing R&D expenditure and continuous product innovation in this application segment by leading manufacturers are predicted to bolster the product demand over the estimated period. For example, General Electronic Company in 2016 introduced a technologically enhanced table lamp embedded with Amazon Alexa.

Distribution Channel Insights

Online channel is predicted to exhibit a CAGR of 15.9% over the forecast period. These platforms offer quick and unique services and home delivery, which, in turn, is anticipated to bode well for the segment growth from 2019 to 2025. Further, leading players such as Xiaomi and SYSKA LED are introducing products on their company-owned portals where customers can place order for genuine products. This is also projected to augment the visibility of the segment in the upcoming years.

Global LED table lamps market

Offline channel occupied the major share in 2018 and is projected to maintain its lead from 2019 to 2025. Key players such as IKEA and Walmart Stores Inc. are increasing their geographical presence to acquire more market share. For example, IKEA in 2019 opened its first store in India. Moreover, leading retail outlets such as Croma and Reliance Digital are spending on new stores to maintain their dominance. For example, Reliance Industries in 2019, announced to open 100 new stores in India, under the name, Reliance Digital.

Regional Insights

Asia Pacific occupied the largest LED table lamp market share in 2018 and is predicted to ascend with a CAGR of 16.1% over the forecast duration. The market growth is attributed to the increasing preference of the product in the residential application. India is one of the leading market in the region. Introduction of new product in major markets such as India and China are projected to fuel the product demand in the upcoming years.

For example, Xiaomi in 2019, introduced LED lamps using the brand name “Mi Table Lamp 1S”, especially for residential application. North America is expected to emerge as the second fastest regional market over the estimated years owing to increasing awareness related to energy conservation.

LED Table Lamps Market Share Insights

The key players of the market are SYSKA LED, Panasonic Corporation, GUANYA, OSRAM GmbH, General Electric Company, Ningbo Liangliang, Yingke Lighting Electric Co., Ltd., Koninklijke Philips N.V.,Donghia, Inc., and OPPLE Lighting. The new and existing players are emphasizing on performance enhancement, technological advancement, and product optimization. Moreover, these players are adopting various strategies such as M&A, expansion of distribution channels, and continuous product innovation to expand their presence over the estimated period.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 - 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country Scope    

U.S., U.K., Germany, France, China, India, Brazil, and Egypt

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global LED table lamps market report on the basis of product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Reading
    • Decorative

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Household
    • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Egypt

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