Lamps & Lighting - Iran

Iran

In 2024, the Lamps & Lighting market in Iran is projected to generate a revenue of US$334.90m.
This market is anticipated to experience an annual growth rate of -0.65% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue with an estimated amount of US$31,960m in 2024.
On a per capita basis, the revenue generated in Iran amounts to US$3.73 per person in 2024.
Iran's market for lamps and lighting is experiencing a surge in demand due to the country's growing urbanization and modernization efforts.

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

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Analyst Opinion

The Lamps & Lighting market in Iran is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Lamps & Lighting market in Iran are shifting towards more energy-efficient and sustainable lighting solutions. Consumers are becoming increasingly aware of the environmental impact of traditional lighting options and are opting for led lights, which consume less energy and have a longer lifespan. Additionally, there is a growing demand for smart lighting solutions that can be controlled remotely and offer personalized lighting experiences. These customer preferences are in line with global trends in the lighting industry, as energy efficiency and sustainability become more important considerations for consumers worldwide. Trends in the Lamps & Lighting market in Iran are also contributing to its development. The market is witnessing an increase in the adoption of smart lighting systems, which offer enhanced functionality and convenience. These systems allow users to control the lighting in their homes or offices through smartphone apps or voice commands. The integration of smart lighting with other smart home devices is also gaining popularity, creating a seamless and interconnected living environment. Furthermore, there is a growing demand for decorative lighting options, as consumers seek to enhance the aesthetics of their living spaces.

Local special circumstances: in Iran are influencing the development of the Lamps & Lighting market. The government has implemented initiatives to promote energy efficiency and reduce electricity consumption, which has led to increased demand for energy-efficient lighting solutions. Additionally, the country's rapid urbanization and infrastructure development have created opportunities for the lighting industry. As more buildings and public spaces are constructed, there is a need for lighting solutions that can meet the growing demand. This has led to a surge in the installation of streetlights, commercial lighting, and outdoor lighting systems.

Underlying macroeconomic factors: are also playing a role in the growth of the Lamps & Lighting market in Iran. The country's economic stability and increasing disposable income have resulted in higher consumer spending on home improvement and renovation projects, including lighting upgrades. Furthermore, the government's focus on developing the manufacturing sector and promoting domestic production has led to the emergence of local lighting manufacturers, offering competitive products at affordable prices. In conclusion, the Lamps & Lighting market in Iran is experiencing growth and development due to customer preferences for energy-efficient and sustainable lighting solutions,

Trends in the market: such as the adoption of smart lighting systems and decorative lighting options, local special circumstances including government initiatives and infrastructure development, and underlying macroeconomic factors such as economic stability and increasing disposable income. These factors are driving the demand for innovative and high-quality lighting products in Iran.

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.