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Floor Lamps Market Trends

  • Report ID: GMI8097
  • Published Date: Feb 2024
  • Report Format: PDF

Floor Lamps Market Trends

With an increase in disposable income levels worldwide, consumers are more inclined to invest in home decor and interior design. Floor lamps, being both functional and aesthetically pleasing, are popular choices for individuals looking to enhance the visual appeal of their living spaces which is expected to expand the market. Floor lamps offer flexibility and portability, allowing users to easily move and reposition them as needed. This adaptability makes floor lamps an attractive choice for consumers who seek versatile lighting solutions that can be customized to suit various settings and preferences. Customizable floor lamps, allowing consumers to choose different elements such as lampshade styles, materials, and finishes, were becoming more prevalent, catering to individual tastes and preferences.
 

Thus, ongoing innovations in design and technology have resulted in modern floor lamps that integrate energy-efficient lighting solutions, smart home capabilities, and contemporary aesthetics. Consumers are drawn to these features, contributing to the overall growth of the market. Additionally, cultural trends and lifestyle preferences play a role in shaping consumer choices in home decor. The adoption of floor lamps is influenced by evolving design trends, preferences for ambient lighting, and a desire for personalized living spaces.
 

With the rise of smart home technology, floor lamps incorporating smart features, such as adjustable brightness, color-changing options, and compatibility with virtual assistants, were gaining popularity. Manufacturers were experimenting with unconventional materials, such as recycled or upcycled components, to create unique and eye-catching floor lamp designs.
 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The floor lamps market was valued at USD 3 billion in 2023 and is anticipated to register a CAGR of over 4.7% between 2024 & 2032, driven by increasing urbanization and population growth, along with demand for lamps with features such as adjustable color temperatures and brightness levels.

Modern lamps segment held the dominant market share worth 1.5 USD billion in 2023 and will continue to gain traction, as they incorporate advanced lighting technology, such as energy-efficient LED bulbs.

North America dominated the global floor lamps market with a revenue share of USD 0.8 billion in 2023, attributed to the increasing interest in floor lamps for electrification and rapid urbanization.

GUANYA, YLighting, Philips, AOZZO, Matsushita Electric (China) Co. Ltd, OPPLE, IKEA, Zhongshan Huayi Lighting, Guangdong PAK Corporation, VENINI S.p.A., Lumens (YDesign Group, LLC), Koninklijke Philips N.V., and Baulmann Leuchten GmbH.

Floor Lamps Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 232
  • Countries covered: 24
  • Pages: 161
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