Lamps Industry

The global lamps market size is projected to reach USD 19.69 billion by the year 2030, expanding at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030, as stated in a recent report by Grand View Research, Inc. This market growth is significantly driven by the increasing consumer interest in floor and desk lamps, largely attributed to the growing focus on interior design and aesthetics. Consumers are increasingly prioritizing lighting solutions that serve a dual purpose—providing practical and efficient illumination while simultaneously enhancing the visual appeal of interior environments. Such lamps contribute to creating inviting and visually engaging atmospheres in both residential and commercial settings, thus fueling demand.

Among product segments, desk lamps emerged as the dominant category in 2022, capturing the largest share of the market. This segment has witnessed a notable transformation in recent years, shaped by evolving consumer needs and technological advancements. A key trend propelling the growth of this segment is the rising preference for LED desk lamps. These lamps have become highly favored due to their energy efficiency, long operational life, and versatility in delivering different lighting effects. They often feature customizable options such as adjustable brightness levels, variable color temperatures, and ergonomic or flexible designs, which enhance user experience and accommodate a wide range of tasks in homes, offices, and other workspaces.

In terms of end-use applications, the commercial and hospitality segment accounted for the largest market share in 2022. The demand in this category is largely influenced by the desire to combine functionality with aesthetic sophistication. Businesses and commercial establishments are prioritizing lighting fixtures that complement architectural elements and contribute to the overall ambiance of the space. Lighting systems such as recessed lighting and track lamps are increasingly popular in commercial settings because of their ability to create impactful visual impressions. Additionally, the integration of smart technology into commercial lighting systems—allowing for remote control, scheduling, and automation—supports the adoption of lamps that are part of intelligent, connected building infrastructures. This technological shift is proving to be a major driver for market growth in this segment.

Geographically, Europe held a substantial share of the global market in 2022. The region is demonstrating a strong inclination toward sustainable and energy-efficient lighting solutions, driven by growing environmental concerns and increased awareness about reducing energy consumption. Consumers and businesses across Europe are actively adopting LED lamps due to their eco-friendly attributes, including lower energy usage, reduced maintenance requirements, and recyclability. These sustainable preferences are contributing to the market’s expansion across the region, as stakeholders seek to align their lighting choices with broader environmental goals.

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Lamps Market Segments Highlights:

• North America is expected to grow at a considerable CAGR over the forecast period. In North America, the demand for energy-efficient lighting products has been propelled by technological advancements and a growing emphasis on environmental preservation
• The floor lamp segment is estimated to grow at the highest CAGR over the forecast period. The popularity of floor lamps is on the rise due to their sleek, clean lines and simple silhouettes that effortlessly blend with contemporary interiors. The segment is experiencing significant growth, driven by the increasing preference for minimalist and modern floor lamp designs
• The decorative segment is anticipated to grow at the fastest CAGR over the forecast period. The segment has witnessed notable growth as it adapts to the evolving tastes and design preferences of consumers, resulting in various trends emerging in recent times
• The commercial segment is expected to grow at the highest CAGR during the forecast period. The growth is driven by the integration of commercial lamps into smart building systems

Lamps Market Report Segmentation

Grand View Research has segmented the global lamps market based on product, type, application, and region:

Lamps Product Outlook (Revenue, USD Billion, 2017 - 2030)

• Desk Lamp
• Floor Lamp

Lamps Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Reading Lamp
• Decorative Lamp

Lamps Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Residential/Retail
• Commercial/Hospitality

Lamps Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia & New Zealand
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

Key Lamps Company Insights

• Signify (Philips Lighting)
• OSRAM GmbH
• Herman Miller Inc.
• Inter IKEA B.V.
• Artemide S.p.A.
• Pablo Design
• Lutron Electronics
• Koncept Inc.
• OttLite Technologies
• Flos S.p.A.

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