Lamps & Lighting - Equatorial Guinea

In Equatorial Guinea, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$6.74m.
It is projected that the market will experience an annual growth rate of -5.84% (CAGR 2024-2029).
When compared to the global market, United States generates the highest revenue in this sector, with a total of US$32bn in 2024.
In terms of per capita revenues, each person in Equatorial Guinea generates US$3.84 in 2024.
Equatorial Guinea's market for lamps and lighting is experiencing a surge in demand for energy-efficient LED products.

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 Equatorial Guinea has been experiencing steady growth in recent years. Customer preferences in the market are shifting towards energy-efficient and eco-friendly lighting solutions. This trend is driven by increasing awareness about the impact of traditional lighting technologies on the environment and the desire to reduce energy consumption.

Customer preferences: Equatorial Guinea is witnessing a shift in customer preferences towards energy-efficient lighting solutions. Consumers are becoming more conscious of the environmental impact of traditional lighting technologies and are opting for LED and CFL lamps. These lighting options offer significant energy savings and have a longer lifespan compared to incandescent bulbs. Additionally, LED lamps provide better quality lighting and are available in a variety of colors and designs, allowing customers to personalize their lighting choices.

Trends in the market: One of the key trends in the Lamps & Lighting market in Equatorial Guinea is the increasing adoption of smart lighting solutions. Smart lighting systems allow users to control the intensity, color, and timing of their lights through smartphone apps or voice commands. These systems offer convenience and energy efficiency, as users can easily adjust their lighting settings to suit their needs. The growing popularity of smart homes and the Internet of Things (IoT) is driving the demand for smart lighting solutions in the market. Another trend in the market is the emphasis on decorative lighting. Consumers are increasingly using lighting fixtures as a way to enhance the aesthetics of their homes and commercial spaces. This trend is driving the demand for decorative lamps, chandeliers, and pendant lights. Manufacturers are responding to this trend by offering a wide range of stylish and innovative lighting options to cater to the diverse preferences of customers.

Local special circumstances: Equatorial Guinea has a rapidly growing urban population, which is driving the demand for residential and commercial lighting solutions. The government's focus on infrastructure development and urbanization is creating opportunities for the Lamps & Lighting market. As more buildings and residential complexes are constructed, there is a need for lighting fixtures and systems to illuminate these spaces.

Underlying macroeconomic factors: The economic growth in Equatorial Guinea is contributing to the development of the Lamps & Lighting market. As the country's GDP continues to rise, consumers have more disposable income to spend on home improvement and renovation projects. This is driving the demand for new lighting fixtures and systems. Additionally, the government's focus on sustainable development and energy efficiency is creating a favorable environment for the adoption of energy-efficient lighting solutions. In conclusion, the Lamps & Lighting market in Equatorial Guinea is experiencing growth due to shifting customer preferences towards energy-efficient and eco-friendly lighting solutions. The market is also witnessing trends such as the adoption of smart lighting systems and the emphasis on decorative lighting. The country's urbanization and economic growth are creating opportunities for the market, while the government's focus on sustainable development is driving the demand for energy-efficient 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.