Global LED Table Lamp Market to out shine and reach at USD 14.5 BN by 2026
Posted On January 22, 2020
As per this study the Global LED Table Lamp Market was valued close to USD 5.5 BN in 2019 and is anticipated to reach USD 14.5 BN MN by 2026 with a CAGR of 15.6% between 2020 and 2026. The growth in the demand for lightweight, cost-effective and durable lighting fixtures to provide brighter light is responsible for driving the demand for LED lamps for household and office purposes. The rise in the adoption of modernizing the lighting system to enhance home décor is further responsible for fuelling the LED table lamp market. Also, the rise in the R&D activities by manufacturers to provide sleeker and low power consuming lamps with additional features is likely to raise the market demand. Besides, unlike fluorescent light fixtures, LED start instantly and can be easily installed in fast retrofitting situations. Apart from this, these lights are rapidly gaining preference in highly controlled environments owing to their advanced features, remote plug and play drivers, compatibility with building controls, motion sensors and timers. They are also being considered as a green alternative to traditional light fixtures as they are constructed with non-hazardous materials such as high-grade extruded aluminum and steel which have no disposal issues. However, the high cost of LED lamps over traditional lamps may hamper the growth of the global LED table lamp market.
LED stands for light-emitting diode. LED lighting products produce light approximately 90% more efficiently than incandescent light bulbs, such as fluorescent and incandescent lights. About 95% of the energy in LEDs is converted into light and only 5% is wasted as heat, which is leading consumers to opt for a more efficient form of lighting. An LED table lamp is a small lamp that is installed with LED lighting fixtures and is usually placed on the table to provide sufficient light for reading, studying and other such chores. The LED lighting technology provides an ultra white light that consumes less power supply. A wide range of LED table lamp is available depending upon the shape, size, power consumption, style, color and finishes that readily blends and enhances the décor of the room.
The "Global LED Table Lamp Market Report By Type (Reading Lamp, Decorative Lamp And Others), By Application (Home, Commercial And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" on the global LED table lamp covers the market growth, trends, forecast and key players of the market along with an outlook on the competitive landscape. The regional study of the report assists in understanding the growth opportunities of the market along with helping identifying the saturated markets globally.
By type, reading lamp and decorative lamp are the segments of the global LED table lamp. Reading lamps contribute to higher revenue for this market as it reduces eye strain along with minimizing shadow while reading. By application, home and commercial are the segments of the global LED table lamp. As per the report home LED table lamps dominate the market.
The study covers the geographical segmentation and mainly focuses on the forecast demand for LED table lamps in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia – Pacific is the leading market owing to increasing disposable income and high constructions in this region. The report also focuses on the demand for individual application segments in all the given regions.
The Report Segments Global LED Table Lamp Market –
- Reading Lamp
- Decorative Lamp
Players Profiled In the Report:
Donghia, DP, Guanya, Liangliang, OPPLE, Osram, Panasonic, Philips, VAVA and Yingke among others.
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