Lamps & Lighting - Gambia

Gambia

In Gambia, the revenue in the Lamps & Lighting market is estimated to be US$1.82m in 2024.
It is projected to experience an annual growth rate of 3.77% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching US$31,960m in 2024.
In terms of per capita figures, the revenue per person in Gambia is US$0.64 in 2024.
Gambian consumers are increasingly opting for energy-efficient LED lamps to combat frequent power outages and high electricity costs.

Key regions: Brazil, China, Denmark, United Kingdom, Worldwide

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Analyst Opinion

The Lamps & Lighting market in Gambia has been experiencing steady growth in recent years. Customer preferences for energy-efficient and eco-friendly lighting solutions have been driving this trend. Additionally, the local special circumstances in Gambia, such as the need for reliable and affordable lighting in rural areas, have also contributed to the development of the market.

Customer preferences: in the Lamps & Lighting market in Gambia have shifted towards energy-efficient and eco-friendly lighting solutions. This is in line with global trends, as consumers are becoming more conscious of their environmental impact and are seeking sustainable options. led lighting, in particular, has gained popularity due to its energy efficiency and long lifespan. Customers in Gambia are also looking for lighting solutions that are affordable and easy to maintain, which further drives the demand for led lighting. The market in Gambia is also influenced by

Local special circumstances:. In many rural areas of the country, access to reliable electricity is limited. This has created a demand for off-grid lighting solutions, such as solar-powered lamps. These lamps provide a reliable and sustainable lighting source for communities that are not connected to the national electricity grid. The government of Gambia has also recognized the importance of providing reliable lighting to rural areas and has implemented initiatives to promote the use of solar-powered lamps. Underlying macroeconomic factors also contribute to the development of the Lamps & Lighting market in Gambia. The country has been experiencing economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has resulted in a higher demand for consumer goods, including lighting products. Additionally, the government of Gambia has been investing in infrastructure development, including the expansion of the electricity grid. This has created opportunities for the Lamps & Lighting market to grow and cater to the increased demand for lighting products. In conclusion, the Lamps & Lighting market in Gambia is developing in response to customer preferences for energy-efficient and eco-friendly lighting solutions. The local special circumstances, such as the need for reliable and affordable lighting in rural areas, also contribute to the growth of the market. The

Underlying macroeconomic factors: including economic growth and infrastructure development, further support the development of the market. Overall, the Lamps & Lighting market in Gambia is expected to continue growing as customers seek sustainable and affordable lighting solutions.

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 segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.