Lamps & Lighting - Gabon | Statista Market Forecast

In Gabon, the revenue in the Lamps & Lighting market reaches US$3.75m in 2024.
It is projected that the market will experience an annual growth rate of 2.03% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, amounting to US$32bn in 2024.
Taking into account the total population, per person revenues reach US$1.51 in 2024.
Gabon's growing interest in sustainable and eco-friendly lighting solutions is driving the demand for energy-efficient lamps.

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 Gabon is experiencing significant growth due to changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in Gabon have shifted towards energy-efficient and eco-friendly lighting solutions. Consumers are increasingly opting for led lamps and lighting fixtures due to their long lifespan, low energy consumption, and reduced environmental impact. This shift in customer preferences is driven by growing awareness of the need for sustainable lighting solutions and the desire to reduce energy costs. Additionally, consumers in Gabon are also looking for aesthetically pleasing lighting options that enhance the overall ambiance of their homes or workplaces.

Trends in the market: indicate a rising demand for smart lighting solutions in Gabon. Smart lighting systems, which can be controlled remotely through smartphones or voice commands, are gaining popularity among consumers. These systems offer convenience, energy efficiency, and customization options, allowing users to adjust the brightness and color of the lights according to their preferences. The increasing adoption of smart home technology in Gabon is driving the demand for smart lighting solutions.

Local special circumstances: in Gabon, such as the government's focus on infrastructure development and urbanization, are also contributing to the growth of the Lamps & Lighting market. The government's initiatives to improve the country's infrastructure, including the construction of new residential and commercial buildings, create a demand for lighting fixtures. Additionally, the ongoing urbanization trend in Gabon, with more people moving to cities, leads to increased demand for lighting products in both residential and commercial sectors. Underlying macroeconomic factors, such as the overall economic growth and increasing disposable income in Gabon, are further driving the development of the Lamps & Lighting market. As the economy expands and people's purchasing power increases, there is a greater willingness to invest in quality lighting products. Moreover, the growing middle class in Gabon is becoming more conscious about the importance of well-designed and efficient lighting solutions, leading to higher demand for lamps and lighting fixtures. In conclusion, the Lamps & Lighting market in Gabon is witnessing growth due to changing customer preferences towards energy-efficient and aesthetically pleasing lighting solutions, emerging trends in the market such as smart lighting systems, local special circumstances such as infrastructure development and urbanization, and

Underlying macroeconomic factors: including economic growth and increasing disposable income.

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.