Lamps & Lighting - Finland | Statista Market Forecast

In Finland, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$283.30m.
It is projected that the market will experience an annual growth rate of 0.14% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with a total of US$32bn in 2024.
Taking into account the population figures, per person revenues of US$51.04 are generated in Finland in 2024.
Despite its high demand for energy-efficient lighting solutions, Finland still holds a strong preference for traditional and minimalist lamp designs.

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 Finland has been experiencing steady growth in recent years. Customer preferences have shifted towards more energy-efficient and sustainable lighting solutions, driving the demand for led lamps and smart lighting systems. The market is also influenced by local special circumstances, such as the long winter months in Finland, which create a greater need for efficient and effective lighting solutions. Additionally, underlying macroeconomic factors, such as the country's strong focus on environmental sustainability and technological innovation, contribute to the development of the Lamps & Lighting market in Finland.

Customer preferences: in the Lamps & Lighting market in Finland have been shifting towards more energy-efficient and sustainable lighting solutions. led lamps have gained popularity due to their long lifespan, low energy consumption, and cost-effectiveness. Customers are increasingly conscious of their environmental impact and are willing to invest in lighting solutions that help reduce energy consumption and carbon emissions. Smart lighting systems, which allow for remote control and automation of lighting, are also in high demand as they offer convenience and energy savings. These customer preferences align with global trends towards energy efficiency and sustainability in the lighting industry. The Lamps & Lighting market in Finland is characterized by

Local special circumstances: such as the long winter months with limited daylight. This creates a greater need for efficient and effective lighting solutions to ensure adequate lighting in homes, offices, and public spaces. Finnish customers prioritize lighting solutions that provide bright and natural-looking light, mimicking daylight as closely as possible. This preference for high-quality lighting is reflected in the demand for led lamps and smart lighting systems that offer adjustable color temperatures and dimming capabilities. The need for reliable and efficient lighting solutions is further emphasized by the country's high standards for safety and well-being.

Underlying macroeconomic factors: also contribute to the development of the Lamps & Lighting market in Finland. The country has a strong focus on environmental sustainability and has set ambitious targets for reducing carbon emissions. The government has implemented various policies and initiatives to promote energy-efficient lighting solutions, such as offering subsidies and incentives for led lamp installations. This creates a favorable business environment for companies operating in the Lamps & Lighting market. Additionally, Finland is known for its technological innovation and has a thriving startup ecosystem. This fosters the development of cutting-edge lighting technologies and encourages the adoption of smart lighting systems. In conclusion, the Lamps & Lighting market in Finland is developing in response to customer preferences for energy-efficient and sustainable lighting solutions. led lamps and smart lighting systems are in high demand, driven by the country's focus on environmental sustainability and technological innovation. The long winter months and the need for reliable and efficient lighting further contribute to the growth of the market. Overall, the Lamps & Lighting market in Finland presents opportunities for companies that offer high-quality, energy-efficient, and technologically advanced 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.