The latest market report published by Credence Research, “Global LED Desk Lamp Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global LED Desk Lamp Market generated revenue of around USD 4.5 billion in 2020 and is anticipated to grow at a CAGR of over 18.65% during the forecast period from 2021 to 2027 to reach around USD 15.6 billion in 2027.
Browse the full report at (https://www.credenceresearch.com/report/led-desk-lamp-market)
Global LED Desk Lamp market is witnessing rapid growth owing huge demand across the world. Driven by the favorable government policies and other benefits such as energy efficiency, low cost, longer work life, etc. the demand for LED Desk Lamp will consistently increase during the spam of analysis period. LED Desk Lamps are growing in adoption in both reading as well as decorative applications across household and commercial industries.
North America and Europe Together Dominated the Global LED Desk Lamps Market
North America and Europe collectively accounted for just over 50% share of the global LED Desk Lamp market in 2020. Higher income level, willingness to spend more on decorative lighting and availability of large number of products is fueling the demand for LED Desk Lamps in Europe and North America. However, Asia Pacific is the single largest market for LED Desk Lamp with over 35% share in total demand in 2020. Increasing construction activity in both residential as well as commercial sector is driving the demand for LED Desk Lamps market in the region. Secondly, there is huge replacement potential in the region for LED Desk Lamps in Asia Pacific making it more lucrative regional market for the LED Desk Lamp industry.
Low Price Range (Below USD 25) to Rule the Global Market
Based on price range the global LED Desk Lamps market can be segmented into low (Below USD 25), medium (USD 25 to USD 100) and High (Above USD 100). Low price range market dominated the global consumption market with 57% share in terms of revenue. While, low price range LED desk lamps held whopping 80% share in global market in terms of volume. Low price range LED desk lamps are predominantly reading lamps. While large chunk of medium and high price range LED Desk Lamps are decorative lamps. Reading lamps demand is increasing at a rapid pace owing surge in online trading. However, most of decorative lamps which falls under medium and higher price range are sold through offline channels.
Major Payers are Focused on Expansion
Key players operating in the global LED Desk Lamps market are focused on expanding their manufacturing capabilities and geographic reach. Key players operating in the global LED Desk Lamps market include DP, Yingke, Liangliang, SYSKA LED, Donghia, OPPLE, Koninklijke Philips N.V., OSRAM GmbH, Cree, Panasonic and Others. These players together accounted for over 25% share of the global LED Desk Lamps market in 2020. Production activities of LED Desk Lamps market is mainly concentrated in Asia Pacific. Better availability of raw materials, cost effective labors and increasing investment by the large players in the region has been resulted into rapid growth of LED Desk Lamps market in the region. China, Japan, South Korea and Taiwan dominated the global production of LED Desk Lamps.
Global LED Desk Lamp Market by Distribution Channel, 2015 – 2027
Global LED Desk Lamp Market by End-user, 2015 – 2027
Global LED Desk Lamp Market by Application, 2015 – 2027
- Reading Lamp
- Decorative Lamp
Global LED Desk Lamp Market by Price Range, 2015 – 2027
- Low (Below USD 25)
- Medium (Between USD 25 to USD 100)
- Above USD 100
Global LED Desk Lamp Market by Company, 2015 – 2027
- SYSKA LED
- Koninklijke Philips N.V.
- OSRAM GmbH
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