Floor Lamps Market Size, Share, Price, Trends, Growth, Analysis, Report, Forecast 2023-2028
According to a new report by Expert Market Research titled, “Global Floor Lamps Market Share, Size, Report and Forecast 2023-2028″, the global floor lamps market size reached a value of approximately USD 4.06 billion in 2022. Aided by the burgeoning demand for aesthetically appealing home décor products and the versatile applications of floor lamps in numerous sectors, the market is projected to further grow at a CAGR of 4.10% between 2023 and 2028 to reach a value of USD 5.15 billion by 2028.
Floor lamps are free-standing lighting fixtures that provide illumination, often in living rooms, bedrooms, offices, and commercial establishments. These lamps enhance the ambiance of spaces, augment the aesthetic appeal, and aid specific tasks such as reading, sewing, or other intricate work. Besides their core function of lighting, floor lamps also serve as critical design elements in interior decoration, contributing to the room’s aesthetic and thematic coherence.
The escalating consumer preference for aesthetically pleasing home décor items is a principal driver of the global floor lamps market growth. As awareness and appreciation for interior design increase, so does the demand for stylish and functional décor elements like floor lamps. This trend is further fuelled by the rising disposable income levels, enabling consumers to invest in premium home décor products, consequently propelling the demand for floor lamps.
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The extensive applications of floor lamps across various sectors also significantly contribute to floor lamps market expansion. In the residential sector, floor lamps enhance the home ambiance and serve functional lighting needs. In commercial settings, such as hospitality, retail, and office spaces, floor lamps provide both general and task lighting, improving the workspace functionality and customer experience. Moreover, in the event industry, these lamps add a sophisticated touch to event décor, reinforcing the event theme and ambiance.
Technological advancements in lighting solutions, including floor lamps, are another propelling factor for the floor lamps market development. Modern floor lamps come equipped with energy-efficient LED lights, dimmable features, and smart technology, offering users enhanced control and customisation.
Furthermore, the growing consciousness about environmental sustainability has led to an increased focus on energy-efficient lighting solutions, with floor lamps being no exception. The production of eco-friendly floor lamps that use energy-efficient LED bulbs, solar power, or are made from recycled or sustainably sourced materials, aligns with this demand, aiding the floor lamps market expansion.
Lastly, the rise of e-commerce platforms offering a wide range of products, easy comparison options, and home delivery services, has driven consumers to shop for home décor items, including floor lamps, online. This shift towards online shopping has facilitated the market growth by offering a larger customer base to floor lamp manufacturers and vendors, aiding the floor lamps market growth.
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Market Segmentation
The market can be divided based on type, application, distribution channel, and region.
Market Breakup by Type
• Arc Floor Lamps
• Industrial Floor Lamps
• Modern Floor Lamps
• Tree Floor Lamps
• Rustic Floor Lamps
• Torchiere Floor Lamps
• Classic Floor Lamps
• Console Floor Lamps
• Others
Market Breakup by Application
• Commercial
• Household
• Industrial
Market Breakup by Distribution Channel
• Online
• Offline
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global floor lamps companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• IKEA Group
• VENINI S.p.A.
• Lumens (YDesign Group, LLC)
• Koninklijke Philips N.V
• Baulmann Leuchten GmbH
• Panasonic Corporation
• ANTA Leuchten Kristian Kracht
• The White Teak Company (Obgenix Software Pvt. Ltd)
• CB2 (Euromarket Designs, Inc.)
• Adesso Inc.
• Others
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