The global LED table lamps market was valued at USD 2.3 billion in 2021 and is projected to expand at a CAGR of 8.6% from 2022 to 2029. The growing demand for energy-efficient lighting solutions and the increasing usage of LED bulbs and lamps in households and offices are the major factors driving the market. Furthermore, the increasing use of LED lamps, especially in commercial and residential buildings, is likely to fuel the growth of the market in the coming years.

The development of LED lamps with a wide range of features, such as dimmable light, adjustable brightness, and color variations, is also driving the market. For instance, in May 2021, Philips Lighting launched a range of LED table lamps with dimmable light and adjustable brightness, which is expected to fuel market growth. Furthermore, the rise in the trend of smart homes is also helping the market to grow. Increasing demand for connected home solutions is driving the installation of LED table lamps, which can be easily controlled via voice or smartphone, is likely to fuel the market.

Furthermore, the increasing demand for cost-effective solutions is driving the adoption of LED lamps as it is a one-time investment and helps in reducing electricity bills. Moreover, the growing trend of minimalism in the design of lighting fixtures is also driving the growth of the market. In addition, the rising demand for decorative lamps is driving the growth of the market as LED table lamps can be used as a decorative element in the interiors of homes and offices.

Furthermore, the increasing adoption of LED lamps in hotels, restaurants, and other hospitality sectors is contributing to the growth of the market. With the increasing number of hotels, restaurants, and other hospitality sectors, the demand for LED table lamps is increasing. Furthermore, the rising popularity of LED lamps in offices is likely to drive the market in the coming years. The need for energy-efficient and cost-effective solutions is driving the adoption of LED table lamps in the office segment.

The LED table lamps segment is expected to grow at a CAGR of 10.6% over the forecast period due to the rising demand for energy-efficient lighting products. The increasing cost of electricity is one of the major factors driving the demand for LEDs. According to an article published by the U.S. Department of Energy, in 2018, the average cost of electricity across the U.S. was around 13.2 cents per kWh. Furthermore, the increasing use of LEDs in the commercial and residential sector is also expected to fuel the demand for LED table lamps in the upcoming years.

The decorative lamps segment is expected to witness significant growth over the forecast period due to the rising demand for aesthetically appealing lighting products. The increasing use of decorative lighting products in the hospitality industry is one of the major factors driving the growth of the decorative lamps market. According to an article published by the American Lighting Association, in March 2020, the hospitality industry is the largest consumer of decorative lighting products. Furthermore, the increasing demand for decorative lighting products among individuals for their homes is also expected to propel the market growth.

The supermarkets and hypermarkets segment held the largest share of 42.6% in 2022. This segment’s growth is mainly attributed to the rising preference of consumers to purchase LED table lamps from supermarkets and hypermarkets. These establishments provide a wide range of LED table lamps for the customers to choose from. Moreover, customers can also evaluate the product quality and features in stores. Furthermore, the growing prevalence of promotional activities such as discounts, offers, and rewards in supermarkets and hypermarkets is expected to further drive the segment’s growth.

The online segment is expected to register the highest CAGR of 13.2% during the forecast period. The convenience of online shopping and the availability of a wide range of LED table lamps have increased the popularity of online stores. Moreover, attractive discounts and offers on online stores are driving the demand for LED table lamps. Furthermore, the increasing penetration of internet and smartphones is expected to boost the segment’s growth.

The LED table lamps segment accounted for the highest market share of 70.5% in 2022. The development of advanced LED lighting technology and the increasing demand for energy-efficient lighting solutions have propelled the growth of the LED table lamps segment in recent years. The demand for LED table lamps is increasing due to their long life span and low maintenance cost. Furthermore, the rising trend of using LED table lamps in residential, commercial, and industrial applications is driving the growth of the market.

The halogen table lamps segment is projected to witness the highest CAGR of 8.7% during the forecast period. These lamps are cost-effective as compared to other lamps, making them a preferred choice for home and commercial lighting applications. Furthermore, the rising demand for halogen table lamps in the hospitality sector is boosting the market. Additionally, the increasing trend of using halogen table lamps for decorative purposes is also driving the market growth.

Asia Pacific is expected to witness the fastest growth from 2022 to 2027. Rapid urbanization and the growing demand for low-cost lighting solutions in the region are driving the growth of the LED table lamps market. In addition, increasing disposable incomes have also led to a surge in investments in home décor, which is further expected to fuel the market growth. Moreover, technological advancements such as the introduction of smart LED table lamps that can be operated via voice commands and mobile applications is expected to drive the market growth in this region.

Europe is expected to account for the second-largest share and is expected to grow at a significant rate in the coming years. This growth can be attributed to the growing demand for energy-efficient lighting solutions in the region. Moreover, the presence of prominent players, such as Ikea and Philips, in the region is expected to boost the growth of the market. For instance, in August 2021, Ikea launched a range of LED table lamps in the U.K.

In this part of the LED table lamps products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your LED table lamps products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a LED table lamps products business comes from sales of the lamps, fees from installation services, and other services. Here you will find a list with a description of each of them and other possible sources of profit such as bulk orders, corporate orders, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the LED table lamps products business running will be described. The list of operating expenses includes materials and supplies, labor costs, advertising and marketing, rent, utilities, insurance policies, taxes, and others.

Some of the key companies operating in the LED table lamps market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Philips Lighting launched a range of LED table lamps with adjustable lighting levels.

– In August 2022, IKEA launched a range of energy efficient LED table lamps with adjustable brightness levels.

– In October 2022, Toshiba Lighting launched a range of LED table lamps with adjustable dimming levels.

Some of the prominent players in the LED table lamps market include:

– Philips Lighting
– IKEA
– Toshiba Lighting
– Osram
– Cree Inc.
– Havells India Limited
– Koninklijke Philips N.V.
– GE Lighting
– General Electric Company
– Samsung Electronics Co., Ltd.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global LED table lamps products market based on product, distribution channel, color temperature, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Desk Table Lamps
– Floor Table Lamps
– Wall Table Lamps

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Color Temperature Outlook (Revenue, USD Million, 2017 – 2030)

– Warm White
– Cool White

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Drivers of the LED Table Lamps Market?
[A]: The increasing adoption of energy-efficient lighting solutions and growing awareness of the benefits of LED technology are the key drivers driving the LED table lamps market. Additionally, the increasing demand for aesthetic lighting solutions and the rising trend of smart lighting solutions are expected to boost the market.

[Q]: What are the Restraints of the LED Table Lamps Market?
[A]: The high cost of LED lamps compared to traditional lamps is a major restraint for the LED table lamps market. Additionally, the presence of substitutes such as CFLs and halogen lamps, which are cheaper than LED lamps and offer a similar level of performance, is another restraint for the market.

[Q]: Who are the Key Players in the LED Table Lamps Market?
[A]: Major players in the LED table lamps market include Philips Lighting Holding B.V., Osram Licht AG, Panasonic Corporation, Lite-On Technology Corporation, General Electric Company, Zumtobel Group AG, and Cree, Inc.

[Q]: What are the Technology Trends in the LED Table Lamps Market?
[A]: There has been an increasing trend of integrating LED table lamps with smart home automation systems. This integration is enabling users to control and monitor the lighting system through their mobile phones or other smart devices. Additionally, the development of IoT-enabled LED table lamps has opened up new opportunities for the LED table lamps market.

[Q]: What are the Regional Insights of the LED Table Lamps Market?
[A]: Asia-Pacific is expected to be the largest market for LED table lamps, followed by North America and Europe. The region is expected to witness the highest growth due to the increasing demand for aesthetically pleasing lighting solutions and the presence of leading manufacturers in the region.