Floor Lamps Market – Global Industry Analysis and Forecast (2023-2029)

Global Floor Lamps Market size was valued at US$ 41.91 Bn. in 2022 and the total revenue is expected to grow at 12% through 2023 to 2029, reaching nearly US$ 92.67 Bn.
Floor Lamps Market Overview:
Floor lamps can be used as a standalone lamp light source to illuminate a specific area in a room. A freestanding lamp upright light fixture, also known as a standard lamp, is a floor standing lamp. It consists of an electric light bulb set on top of a pole or stand with a shade to direct the light downwards. Floor lamps are used in task lighting, which gives additional light for certain work in a room with adequate illumination. Reading lamps are also utilised in living rooms, bedrooms, and other areas.

Furthermore, these lamps are not only inexpensive to install and operate, but they also save electricity because they can be used with energy-efficient LED bulbs. Furthermore, these lights are employed for interior design and house remodelling, which is fuelling the market's expansion.To know about the Research Methodology :- Request Free Sample Report
Floor Lamps Market Dynamics:
Market Drivers

Rise in income and enhanced Lifestyle - People are spending more on luxury, comfort, and leisure products than ever before. Changes in consumer spending habits and increased purchasing power boost demand for floor lamp décor items. The expansion of the floor lamp market is also aided by changes in lifestyle and an increase in modern house renovation. This is one of the main factors driving the growth of Floor Lamps Market.

Awareness about eco-friendly products - The appeal of environmentally friendly home décor items is driving the demand for floor lamps. Consumers have been motivated to buy floor lamps made of wood, bamboo, and other natural textiles as their awareness of utilizing eco-friendly and recyclable products has grown.

Affordable and electricity Saving - The floor lamps are not only inexpensive to install and operate, but they also save electricity because they can be used with energy-efficient LED bulbs. By using LED bulbs in the floor lamp, it may be utilized as a bed light for lengthy periods of time without increasing the electricity bill.
Floor Lamps Market Segment Analysis:
By Type, the Floor Lamps Market is segmented as Modern Lamps, Rustic Lamps. Modern Lamps dominates the Floor Lamps Market with the market share of 56% in 2022 as they are a type of lighting that is used to illuminate interior spaces. They come in a variety of shapes and sizes, including table top, floor, wall, and ceiling mounted. On the basis of their foundation, modern lamps can be divided into two categories: fixed and portable. Modern lamps that are fixed are permanently installed, whereas portable lamps can be moved from one location to another as needed and their applications are also more than Rustic lamps and are mainly used in commercial spaces.

Rustic Lamps have the market share of 44% in 2022 as the rustic lamps help to illuminate the space, which is finished off with a great number of candles or oil lamps. They offer enough light for the necessary area with warm and soft illumination, making them ideal for creating ambiance in homes, restaurants, and hotels, among other places. However, their uses are limited.

By Application, the Floor Lamps Market is segmented as Commercial and Household. Commercial dominates the market with the market share of 60% in 2022 due to increased demand from various end-use industries such as workplaces, hospitality, and healthcare, the category is likely to develop significantly over the forecast period. Increased work pressure has compelled individuals to adopt a flexible working style that allows them to work late into the night or take short breaks during the day;

As a result, companies and organisations across various industry verticals have begun to adopt modern office lighting solutions such as floor lamps that provide a soft yet sufficient light for working late at night or preparing important documents. 40% of the market share is enjoyed by households in 2022 because of a growing awareness of home décor among consumers around the world, who are increasingly focusing on creating a warm and pleasant ambience at home by installing rustic or classic looking floor lamps with various types of light bulbs within.
Regional Insights:
North America and Asia Pacific dominates the Floor Lamps Market with the market share of 30% and 27% in 2022 respectively due to rising interest, increased pay, trend-setting innovation, and apparatus, as well as attention-demanding projects. With such a large population, Asia-Pacific will be growing in the figure year and will eventually dominate the Floor Lamp market share. With recent GDP increases, per capita and infrastructure advancements, the region has become more urbanised. Europe has the market share of 21% in 2022 due to large office spaces and trend of beautiful lights in households. Middle East & Africa has the market share of 14% in 2022 followed by South America with the market share of 8% in 2022.

The objective of the report is to present a comprehensive analysis of the Floor Lamps market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Floor Lamps market dynamics, structure by analyzing the market segments and project the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
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Floor Lamps Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 41.91 Bn.


Forecast Period 2023 to 2029 CAGR:
12%
Market Size in 2029:
US $ 92.67 Bn.


 Segments Covered:
by Product
Modern Lamps
Rustic Lamps


by Application
Household
Commercial


by Distribution Channel
Online
Offline



Floor Lamps Market by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.IKEA
2.Zhongshan Huayi Lighting
3.Venini
4.AOZZO
5.YLighting
6.GUANYA
7.Philips
8.Baulmann Leuchten
9.OPPLE
10.Anta Leuchten
11.Matsushita Electric (China) Co. Ltd.

Frequently Asked Questions:

1] What segments are covered in the Floor Lamps Market report?
Ans. The segments covered in the Floor Lamps Market report are based on Material Type ,Application and Distribution Channel .

2] Which region is expected to hold the highest share in the Floor Lamps Market?
Ans. The Asia Pacific is expected to hold the highest share in the Floor Lamps Market.

3] What is the market size volume of the Floor Lamps Market by 2029?
Ans. The market size of the Floor Lamps Market by 2029 is expected to reach at US$ 92.67 Bn.

4] What is the forecast period for the Floor Lamps Market?
Ans. The forecast period for the Floor Lamps Market is 2023-2029.

5] What was the market size volume of the Floor Lamps Market in 2022?
Ans. The market size of the Floor Lamps Market in 2022 was valued at US$ 41.91 Bn.