Lamps & Lighting - Iraq | Statista Market Forecast

In Iraq, the revenue generated in the Lamps & Lighting market is projected to reach US$219.80m by 2024.
It is expected that the market will experience an annual growth rate of 3.06% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, amounting to US$32bn in 2024.
In terms of per person revenues, in Iraq generates US$4.72 in 2024.
The demand for energy-efficient lamps in Iraq is on the rise due to the country's efforts to reduce electricity consumption and promote sustainability.

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 Iraq has been experiencing significant growth in recent years. Customer preferences have shifted towards more energy-efficient and environmentally friendly lighting solutions, driving the demand for LED lamps and lighting fixtures. Additionally, the rapid urbanization and infrastructural development in the country have contributed to the increased demand for lighting products.

Customer preferences: In line with global trends, customers in Iraq are increasingly opting for energy-efficient lighting solutions. This shift in preferences can be attributed to growing awareness about the environmental impact of traditional lighting technologies and the potential cost savings associated with energy-efficient alternatives. LED lamps and lighting fixtures have gained popularity due to their long lifespan, low energy consumption, and reduced maintenance requirements. Customers are also showing a preference for smart lighting solutions that offer convenience and customization options.

Trends in the market: One of the key trends in the Lamps & Lighting market in Iraq is the growing demand for LED lighting products. LED lamps and lighting fixtures are gradually replacing traditional incandescent and fluorescent lights due to their energy efficiency and longer lifespan. The government's initiatives to promote energy conservation and reduce carbon emissions have further accelerated the adoption of LED lighting solutions. The market is also witnessing a rise in demand for decorative lighting products, driven by the increasing focus on interior design and aesthetics.

Local special circumstances: Iraq's rapid urbanization and infrastructural development have created a favorable environment for the growth of the Lamps & Lighting market. The construction of residential, commercial, and industrial buildings has increased the demand for lighting products. Additionally, the government's efforts to improve public infrastructure, such as roads, airports, and public spaces, have further contributed to the market growth. The ongoing reconstruction and rehabilitation projects in war-affected areas have also created opportunities for the lighting industry.

Underlying macroeconomic factors: Several macroeconomic factors have played a role in the development of the Lamps & Lighting market in Iraq. The country's population growth, coupled with rising disposable incomes, has led to an increase in consumer spending on home improvement and interior design. The stable economic conditions and government investments in infrastructure have also boosted the construction sector, driving the demand for lighting products. Furthermore, the favorable government policies and incentives for energy conservation have encouraged the adoption of energy-efficient lighting solutions. In conclusion, the Lamps & Lighting market in Iraq is witnessing significant growth due to the shift in customer preferences towards energy-efficient lighting solutions, the rapid urbanization and infrastructural development in the country, and the favorable macroeconomic factors. LED lighting products have emerged as the preferred choice among customers, driven by their energy efficiency and long lifespan. The market is also experiencing a demand for decorative lighting products, reflecting the increasing focus on interior design. The ongoing construction projects and government initiatives to promote energy conservation further contribute to the market growth.

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.