Lamps & Lighting - Georgia | Statista Market Forecast

In the year 2024, the revenue generated in the Lamps & Lighting market in Georgia amounts to US$17.59m.
It is projected that this market will experience an annual growth rate of 0.92% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$32bn in 2024.
In terms of per capita figures, each person in Georgia generates revenues of US$4.73 in 2024.
Georgia's growing tourism industry is driving demand for unique and locally-made lamps and lighting fixtures.

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 Georgia has been experiencing significant growth in recent years. Customer preferences have shifted towards more energy-efficient and sustainable lighting solutions. This trend is driven by global efforts to reduce carbon emissions and promote environmental sustainability. Additionally, the local special circumstances in Georgia, such as government initiatives and regulations, have also contributed to the development of the market.

Customer preferences: in the Lamps & Lighting market in Georgia have been influenced by the growing awareness of the environmental impact of traditional lighting solutions. Consumers are increasingly opting for energy-efficient lighting options such as led lights, which consume less electricity and have a longer lifespan compared to traditional incandescent bulbs. led lights also offer better lighting quality and can be dimmed or adjusted to create different atmospheres, making them a popular choice among customers. Furthermore, the availability of a wide range of led lighting products in the market has also contributed to their popularity. In addition to energy efficiency, customers in Georgia are also looking for lighting solutions that are aesthetically pleasing and can enhance the overall ambience of their homes or workplaces. This has led to an increased demand for decorative lighting fixtures, such as chandeliers, pendant lights, and wall sconces. These lighting fixtures not only provide functional lighting but also serve as decorative elements that add style and elegance to the interior design. As a result, manufacturers and retailers in the Lamps & Lighting market in Georgia are focusing on offering a diverse range of decorative lighting options to cater to the evolving customer preferences. The Lamps & Lighting market in Georgia is also influenced by

Local special circumstances:. The government has implemented various initiatives and regulations to promote energy efficiency and sustainability in the country. For example, there are energy efficiency labeling requirements for lighting products, which encourage manufacturers to produce more energy-efficient lighting solutions. Additionally, the government has also provided incentives and subsidies for the installation of energy-efficient lighting systems in public buildings and residential properties. These initiatives have created a favorable environment for the growth of the Lamps & Lighting market in Georgia. Furthermore, the economic development and increasing disposable income in Georgia have also contributed to the growth of the Lamps & Lighting market. As people's living standards improve, they are willing to spend more on high-quality lighting products that can enhance their living spaces. This has led to an increase in the demand for premium lighting solutions, such as designer lighting fixtures and smart lighting systems. Manufacturers and retailers are capitalizing on this trend by offering innovative and high-end lighting products to cater to the needs of affluent customers. In conclusion, the Lamps & Lighting market in Georgia is developing due to customer preferences for energy-efficient and aesthetically pleasing lighting solutions. The local special circumstances, including government initiatives and regulations, have also played a significant role in driving the market growth. Additionally, the economic development and increasing disposable income in Georgia have contributed to the demand for premium lighting products. Overall, the market is expected to continue growing as customers prioritize sustainability, aesthetics, and technological advancements in the lighting industry.

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.