Floor Lamps Market

Floor Lamps Market Overview

The floor lamps market is likely to record a promising CAGR 12% during the forecast period. The floor lamps market is currently valued at US$ 33.42 Bn and is likely to reach US$ 92.68 Bn by 2032.

The floor lamps market experiences a surge in the sales of floor lamps as the industries like hotel and residential construction and wiring also rises. The consumer’s interest in modern lighting solutions like LEDs and CFLs that consume less energy and produce more light.

Bulbs like Halogen and fluorescent bulbs consume more heat and energy. While floor lamps LEDs consume less energy and utilize 90% less energy to produce more light. Mostly floor lamps are used in order to add some extra light to the room. This increases the sales of floor lamps in new markets.

What are the Key Drivers and Restraints to the Floor Lamps Market?

The global demand for home décor products is growing due to the improvement in the living standards of consumers. The floor lamp is trending these days as it gives a classy look in the living room as well as they are coming with the new technology of LED lighting edition with different LED colors which suits and matches the room décor, increasing the demand for floor lamps.

 There has been a continuous adoption of the latest bulbs and lightings in the commercial and Industrial Arena on account of technological advancements and improvements in lamps, bulbs, and other lighting products. Higher adoption of these technologies is increasing the sales of floor lamps.

One of the most desirable features in lighting products is durability or a longer life span. Therefore, market players are investing extensively in research and development and trying to develop products with a higher lifespan, increasing the demand for floor lamps.

Sneha Verghese

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What Opportunities and Trends do Floor Lamps Market Offers?

Technology is making life more efficient, high-efficiency products are being produced for the same goal. Manufacturers are trying to maximize the energy savings and make products more energy efficient for Floor Lamps. With new technological advances, highly efficient products are obtaining these standards in a wide variety of wattages. The result of these advanced floor lamps will benefit installers and consumers with their ease and affordability, increasing the sales of floor lamps.

Manufacturers are working to achieve a warm light with this new advancement in LED lighting technology by finding the right color temperature and Color Rendering Index balance for better lighting for Floor Lamps. Manufacturers are keeping in mind factors like height, price, shades, and materials used for floor lamps in order to increase the sales of floor lamps.

The materials used in constructing traditional floor stand lamps vary widely and include metal, wood, and rattan. Most contemporary floor lamps are made from nickel, silver, bronze, steel, and metal alloys as they are moving in the market.

Arc lamps are gaining an edge over other floor lamps. The prevalence of arc lamps in living rooms is due to the popularity of sectional sofas and partly for the mid-century modern look. The greater push towards green in consumers’ lives has led to more energy-conscious lighting choices such as LED floor lamps. Antique finishes along with polished nickel and copper are gaining popularity. Metal, glass, and crystal are liked by consumers for the bases of floor Lamps, increasing the sales of floor lamps.

How’s the Competitive Landscape in Floor Lamps Market?

The key players of the floor lamps market are focusing on enhancing and adopting strategies like mergers, approvals, upgrades, and innovative advancements to drive the demand for the Floor lamps business. This is driving the sales of Floor lamps.

Key players in the floor lamps market include GUANYA TLighting, Philips, AOZZO, Matsushita Electric (China) Co Ltd, OPPLE, IKEA, Zhongshan Huayi Lighting, and Guangdong PAK Corporation.

Recent Market Development:

• The growing use of energy-efficient light bulbs is synonymous with going green, and high-tech LED bulbs are at the forefront of this quiet revolution in Floor lamps as GUANYA is extending its floor lamp series. 
• Philips is coming up with floor lamps with LED lighting along with a wide range of LED color which is enhancing the sales of floor lamps as consumers are interested in buying these which matches the room décor.

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