Television (TV) Mount Market Report Overview
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global television (TV) mount market size was USD 1819.5 million in 2020 and market is projected to touch USD 2127.1 million by 2032 at CAGR 1.3% during the forecast period.
As consumers prefer larger TVs, wall mounting has become a popular solution. The market is expected to witness sustained growth to cater to the evolving preferences of modern consumers. Additionally, the surge in demand is fueled by the crucial need for space optimization, as TV mounts play a pivotal role in freeing up valuable floor space, contributing to the efficient use of space in compact living environments.
COVID-19 Impact: Demand Declined Due to Reduced Demand for Non-Essential Home Improvement Products
The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The COVID-19 pandemic exerted notable impacts on the television (TV) mount market. Economic uncertainties stemming from job losses and financial concerns prompted consumers to reprioritize their spending, often favoring essential purchases over non-essential home improvement products like TV mounts. Furthermore, lockdown disruptions, marked by retail closures and supply chain interruptions, temporarily depressed both TV and TV mount sales, indirectly influencing the demand for mounts. The fluctuating economic landscape and altered consumer priorities during the pandemic significantly shaped the market dynamics.
Latest Trends
"Smart Integration and Advanced Features to Revolutionize the Market"
A notable trend in the TV mount market is the integration of smart features and advanced technologies. Manufacturers are incorporating features such as motorized mounts, tilt and swivel functions, and cable management systems. These innovations enhance the user experience, providing convenience and flexibility in adjusting TV positions. Moreover, the integration of smart home technologies has led to the development of TV mounts with remote-controlled functionalities, contributing to the market's growth.
Television (TV) Mount Market Segmentation
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- By Type Analysis
The global TV mount market can be categorized into wall mounts, ceiling mounts, desktop mounts, and others.
Wall mount: Ideal for space-saving and aesthetic purposes, wall mounts are popular for residential use.
Ceiling mount: Suitable for commercial spaces and areas where wall mounting is not feasible.
Desktop mount: Offers flexibility for TV placement on furniture or desks in both residential and commercial settings.
- By Application Analysis
The market is segmented by application into residential use, commercial use, and other applications.
Residential use: Dominated by the increasing demand for home entertainment systems and the desire for aesthetically pleasing setups.
Commercial use: Growing in response to the adoption of digital displays and interactive screens in commercial spaces.
Other applications: Includes specialized installations in areas such as hospitality, healthcare, and education.
Driving Factors
"Surge in Demand for Large TVs to Drive Market Growth"
The television (TV) mount market growth is propelled by the escalating popularity of large-screen TVs. Consumers are increasingly opting for expansive displays, and wall mounting has become the preferred solution to address space constraints and enhance aesthetics. As the demand for larger TVs continues to rise, the market for TV mounts is poised for sustained expansion, catering to the evolving preferences of modern consumers.
"Rising Need for Space Optimization to Fuel Product Demand"
The TV mount market is witnessing a surge in demand driven by the crucial need for space optimization. TV mounts play a pivotal role in freeing up valuable floor space, particularly in compact living environments. This not only contributes to the efficient use of space but also imparts a sense of openness, making rooms appear larger and less cluttered. As consumers increasingly seek solutions to optimize their living spaces, the TV mount market is positioned for continuous growth, meeting the demand for both functionality and aesthetics.
Restraining Factor
"Installation Complexities and Professional Assistance Requirements to Limit Product’s Widespread Adoption"
One notable restraining factor in the television (TV) mount market is the complexity associated with installation, often requiring professional assistance. While TV mounts offer space-saving benefits, the intricacies of installation may pose challenges for certain consumers. The need for professional help can contribute to increased overall costs, potentially deterring a segment of the market. Manufacturers are actively addressing this challenge by providing user-friendly installation guides and services to simplify the process. However, overcoming installation complexities remains a key factor that influences consumer adoption and market growth.
Television (TV) Mount Market Regional Insights
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"Asia Pacific to Lead the Global Market Due to Region’s Rising Disposable Incomes and Increasing Urbanization"
"The market is primarily segregated into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa."
Asia Pacific is the dominant region, holding the maximum television (TV) mount market share. Its massive and rapidly growing population, coupled with rising disposable incomes and increasing urbanization, creates a fertile ground for TV adoption and home improvement upgrades. Additionally, the popularity of large-screen TVs in this region further fuels the demand for sturdy and versatile mounting solutions.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Legrand (Milestone) (France)
- Ergotron (U.S.)
- LG (South Korea)
- LUMI LEGEND (China)
- Cinemount (U.S.)
- AVF (U.K.)
- Shenzhen Xinadda (China)
- Premier Mounts (U.S.)
- OSD Audio (U.S.)
- ZILLA (China)
- Ningbo Tianqi (China)
- Changzhou Yuming (China)
- Crimson (U.S.)
- Vogel's (Netherlands)
- Qidong Vision (China)
- Ruian QM (China)
- Lilong (China)
- Daveco (U.S.)
- KINGSTAR DISPLAYS (China)
- Forshun (China)
- Yuyao Yuda (China)
- MW Products (U.S.)
- Locteck (China)
- Fenghua Yuanfan (China)
- Ningbo Honsunmount (China)
INDUSTRIAL DEVELOPMENT
November 2023: Ergotron, a leading ergonomics provider, announced the launch of the HX Monitor Arm with sit-to-stand functionality. This mount allows users to seamlessly transition between sitting and standing positions while using their TVs, promoting better posture and reducing the health risks associated with prolonged sitting.
Report Coverage
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1819.5 Million in 2020 |
Market Size Value By |
US$ 2127.1 Million by 2032 |
Growth Rate |
CAGR of 1.3% from 2020 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global television (TV) mount market expected to touch by 2032?
The global television (TV) mount market is expected to touch USD 2127.1 million by 2032.
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What CAGR is the television (TV) mount market expected to exhibit by 2032?
The television (TV) mount market is expected to exhibit a CAGR of 1.3% by 2032.
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What are the driving factors of the market?
The driving factors include the surge in demand for large TVs and the rising need for space optimization.
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What are the key TV mount market segments?
The market is segmented by types such as wall mounts, ceiling mounts, desktop mounts, and various applications such as residential and commercial use.
