Lamps & Lighting - Benin | Statista Market Forecast

In Benin, the revenue in the Lamps & Lighting market is recorded at US$3.96m in 2024.
It is projected that this market will experience an annual growth rate of 2.09% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the pack with a revenue of US$32bn in 2024.
Taking into account the total population figures, the per person revenue in Benin for 2024 amounts to US$0.28.
The demand for traditional handcrafted lamps in Benin is on the rise, reflecting the country's rich cultural heritage.

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 Benin has been experiencing steady growth in recent years. Customer preferences have shifted towards more energy-efficient and sustainable lighting options, driving the demand for LED lamps and solar-powered lighting solutions. Additionally, the government's initiatives to improve access to electricity in rural areas have also contributed to the growth of the market.

Customer preferences: In Benin, customers are increasingly opting for energy-efficient lighting solutions. This can be attributed to growing awareness about the environmental impact of traditional lighting options and the rising cost of electricity. LED lamps are gaining popularity due to their long lifespan, low energy consumption, and cost-effectiveness. Customers are also showing interest in solar-powered lighting solutions, especially in rural areas where access to electricity is limited. These preferences are in line with global trends towards sustainable and eco-friendly lighting options.

Trends in the market: One of the key trends in the Lamps & Lighting market in Benin is the increasing adoption of LED lamps. LED technology offers significant energy savings compared to traditional incandescent bulbs, making it an attractive option for both residential and commercial customers. The market is witnessing a shift from incandescent and fluorescent lighting to LED lighting solutions. This trend is expected to continue in the coming years as LED technology becomes more affordable and widely available. Another trend in the market is the growing demand for solar-powered lighting solutions. Benin has a large rural population with limited access to electricity. Solar-powered lighting offers a viable and sustainable solution for lighting up homes, schools, and healthcare facilities in these areas. The government, along with international organizations, has been implementing various initiatives to promote the use of solar energy in rural communities. This has led to an increased demand for solar-powered lamps and lighting systems.

Local special circumstances: Benin faces several challenges in the Lamps & Lighting market due to its limited infrastructure and high poverty rates. Many rural areas lack access to electricity, making it difficult for the population to meet their lighting needs. The government has recognized this issue and has been working towards improving access to electricity in rural areas. This has created opportunities for the Lamps & Lighting market, particularly for solar-powered lighting solutions.

Underlying macroeconomic factors: The growth of the Lamps & Lighting market in Benin is also influenced by macroeconomic factors such as population growth, urbanization, and income levels. As the population continues to grow, there is a higher demand for lighting solutions. Urbanization also plays a role in driving the market, as more people move to cities and require lighting for their homes and businesses. Additionally, as income levels rise, consumers have more purchasing power and are willing to invest in better quality lighting products. In conclusion, the Lamps & Lighting market in Benin is experiencing growth due to customer preferences for energy-efficient and sustainable lighting solutions, such as LED lamps and solar-powered lighting. The government's efforts to improve access to electricity in rural areas have also contributed to the market's development. The market is expected to continue growing in the coming years, driven by the increasing adoption of LED lamps and the demand for solar-powered lighting solutions.

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.