Lamps & Lighting - BRICS | Statista Market Forecast

In 2024, the revenue in the Lamps & Lighting market in BRICS amounts to US$10.33bn.
It is projected that the market will experience an annual growth rate of 7.05% (CAGR 2024-2029).
When compared to other countries globally, United States generates the highest revenue in this segment, with US$32bn in 2024.
In terms of per capita figures, the revenue generated per person in BRICS is US$3.13 in 2024.
In Brazil, the market for lamps and lighting is experiencing a surge in demand due to increasing urbanization and a growing focus on energy efficiency.

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 BRICS is experiencing significant growth and development due to various factors. Customer preferences for energy-efficient and eco-friendly lighting solutions are driving the demand for LED lamps and lighting fixtures. Additionally, the increasing urbanization and infrastructure development in BRICS countries are creating a need for modern and sophisticated lighting systems.

Customer preferences: Customers in BRICS countries are increasingly opting for energy-efficient lighting solutions. LED lamps and lighting fixtures are gaining popularity due to their long lifespan, low energy consumption, and cost-effectiveness. Moreover, customers are also concerned about the environmental impact of traditional lighting technologies, such as incandescent bulbs, and are therefore choosing LED lighting as a more sustainable option.

Trends in the market: The Lamps & Lighting market in BRICS is witnessing several trends. Firstly, there is a growing demand for smart lighting systems that can be controlled remotely through smartphones or voice commands. This trend is driven by the increasing adoption of smart home technology and the desire for convenience and energy savings. Secondly, there is a shift towards decorative and designer lighting fixtures. Customers are looking for unique and aesthetically pleasing lighting solutions to enhance the ambiance of their homes or commercial spaces. This trend is particularly prominent in Brazil and India, where interior design and home decor are highly valued.

Local special circumstances: Each BRICS country has its own unique circumstances that influence the Lamps & Lighting market. In China, for example, the government has implemented policies to promote energy-efficient lighting and has set targets for phasing out incandescent bulbs. This has led to a surge in demand for LED lighting in the country. In India, the government's initiatives to promote energy conservation and the adoption of LED lighting have also contributed to market growth. The "UJALA" scheme, which aims to distribute LED bulbs at subsidized rates, has been successful in increasing the penetration of LED lighting in the country. In Brazil, the Lamps & Lighting market is influenced by the country's cultural emphasis on design and aesthetics. Brazilian customers have a preference for decorative lighting fixtures that reflect their unique style and personality.

Underlying macroeconomic factors: The Lamps & Lighting market in BRICS is also influenced by macroeconomic factors. Economic growth and rising disposable incomes in these countries have resulted in increased consumer spending on home improvement and renovation projects. As a result, the demand for lamps and lighting fixtures has grown significantly. Moreover, the rapid urbanization and infrastructure development in BRICS countries have created a need for modern and efficient lighting systems. The construction of residential and commercial buildings, as well as the development of smart cities, has contributed to the growth of the Lamps & Lighting market. In conclusion, the Lamps & Lighting market in BRICS is driven by customer preferences for energy-efficient and eco-friendly lighting solutions, as well as the increasing urbanization and infrastructure development in these countries. The market is characterized by trends such as the demand for smart lighting systems and decorative lighting fixtures. Each BRICS country also has its own unique circumstances, such as government initiatives and cultural preferences, that influence the market. Overall, the Lamps & Lighting market in BRICS is expected to continue growing in the coming years.

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.