Lamps & Lighting - Asia | Statista Market Forecast

In 2024, the revenue in the Lamps & Lighting market in Asia amounts to US$14.85bn.
It is projected that the market in this segment will experience an annual growth rate of 5.92% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$32bn in 2024.
Taking into account the total population figures, per person revenues of US$3.27 are generated in Asia in 2024.
In China, the market for smart lighting is rapidly growing, with consumers increasingly adopting voice-controlled and app-controlled lighting systems.

Definition:

The Lamps & Lighting segment covers different types of lamps and lights found inside buildings to provide light to carry out activities. This segment includes table and floor lamps, chandeliers, ceiling lights as well as other lamps and light fittings commonly found indoors. Candles, consumer electronics, and household appliances are not included in this segment.

Structure:

The Lamps & Lighting segment is divided into three subsegments:

The Table & Floor Lamps subsegment covers lighting fixtures designed to provide task or ambient lighting to indoor spaces. These lamps typically consist of a base, a stem, and a lampshade and contribute to the overall decor of a room while providing functional lighting.
The Ceiling Lights & Chandeliers subsegment refers to lighting fixtures that are mounted on ceilings to provide ambient lighting. These fixtures range from simple to elaborate lighting fixtures and are available in a variety of styles, sizes, and materials to suit different interior design tastes.
The Light Bulbs and Fittings subsegment includes products such as light bulbs, sockets, and other accessories used to provide and control lighting in indoor spaces.

Additional Information:

The Lamps & Lighting segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Chandeliers, wall, and ceiling lights
Standing lamps
Decoration lighting such as Christmas tree lighting
Light bulbs and fittings

Candles
Consumer electronics
Household appliances

The Lamps & Lighting market in Asia has been experiencing significant growth in recent years, driven by various factors such as increasing urbanization, rising disposable income, and growing awareness about energy-efficient lighting solutions.

Customer preferences: Customers in Asia are increasingly looking for lighting solutions that not only provide illumination but also enhance the aesthetics of their living spaces. As a result, there is a growing demand for innovative and stylish lamps and lighting fixtures. Additionally, with the increasing focus on sustainability, there is a rising preference for energy-efficient LED lighting solutions over traditional incandescent bulbs.

Trends in the market: One of the key trends in the Lamps & Lighting market in Asia is the adoption of smart lighting solutions. With the rapid advancement of technology, customers are now seeking lighting solutions that can be controlled and customized through smartphone apps or voice commands. This trend is particularly prominent in developed countries such as Japan and South Korea, where smart home automation systems are gaining popularity. Another trend in the market is the increasing demand for outdoor lighting solutions. As urbanization continues to accelerate in Asia, there is a growing need for well-lit public spaces, streets, and buildings. This has led to a surge in the demand for outdoor lighting fixtures, including streetlights, floodlights, and garden lights.

Local special circumstances: Asia is a diverse region with varying market conditions and consumer preferences. For example, in countries like China and India, where population density is high, there is a greater demand for affordable lighting solutions that cater to the needs of the mass market. On the other hand, in countries like Japan and South Korea, where the population is relatively affluent, there is a higher demand for premium and design-oriented lighting products. Moreover, the Lamps & Lighting market in Asia is also influenced by cultural factors. In countries like China and India, where festivals and celebrations play a significant role in the culture, there is a seasonal surge in the demand for decorative lighting products. This creates opportunities for manufacturers to introduce festive-themed lighting solutions.

Underlying macroeconomic factors: The Lamps & Lighting market in Asia is supported by favorable macroeconomic factors such as economic growth, urbanization, and increasing disposable income. As economies in the region continue to develop, more people are moving to urban areas, resulting in a higher demand for residential and commercial lighting solutions. Additionally, rising disposable income levels have enabled consumers to spend more on home decor and lighting products. Furthermore, government initiatives and regulations promoting energy efficiency and sustainability are also driving the growth of the Lamps & Lighting market in Asia. Many countries in the region have implemented policies to phase out inefficient lighting technologies and promote the use of energy-efficient alternatives such as LED lighting. This has created a favorable market environment for manufacturers and suppliers of energy-efficient lighting solutions. In conclusion, the Lamps & Lighting market in Asia is experiencing robust growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the region continues to develop and urbanize, the demand for innovative and energy-efficient lighting solutions is expected to further increase. Manufacturers and suppliers in the market need to adapt to these trends and cater to the diverse needs of customers in different countries within Asia.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.