Market Insights Consumer Furniture Lamps & Lighting

Ceiling Lights & Chandeliers - Vietnam

Vietnam

In Vietnam, the revenue in the Ceiling Lights & Chandeliers market is projected to reach US$49.08m in 2024.
It is anticipated that this market will experience a steady annual growth rate of 2.66% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads the pack with the highest revenue of US$17,510m in 2024.
Taking into account the total population, the per person revenue in Vietnam is estimated to be US$0.49 in 2024.
Vietnam's growing middle class is driving demand for stylish and affordable ceiling lights and chandeliers.

Key regions: India, Germany, Canada, United Kingdom, Denmark

Market

Region

Region comparison

Currency

Methodology

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.