Lamps & Lighting - Namibia | Statista Market Forecast

In Namibia, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$14.38m.
It is projected that the market will experience an annual growth rate of -3.68% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads in terms of revenue with US$32bn in 2024.
In terms of per capita revenue, each person in Namibia generates US$5.43 in 2024.
Namibia's demand for eco-friendly and energy-efficient lamps and lighting fixtures is on the rise, reflecting the country's commitment to sustainable development.

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 Namibia has been experiencing steady growth in recent years, driven by customer preferences for energy-efficient and sustainable lighting solutions. Namibian consumers are increasingly conscious of the environmental impact of their choices and are actively seeking out products that are both aesthetically pleasing and eco-friendly. This shift in customer preferences has fueled the demand for LED lighting products, which are known for their energy efficiency and long lifespan.

Customer preferences: Namibian consumers are becoming more environmentally conscious and are actively seeking out energy-efficient lighting solutions. LED lighting products have gained popularity in the market due to their low energy consumption and long lifespan. Customers are also looking for lighting options that are aesthetically pleasing and can enhance the ambiance of their homes or offices. As a result, there is a growing demand for lamps and lighting fixtures that offer both functionality and design.

Trends in the market: The Lamps & Lighting market in Namibia is witnessing a shift towards LED lighting products. LED lights are known for their energy efficiency and long lifespan, making them an attractive choice for consumers. The market is also seeing an increasing demand for smart lighting solutions, which allow users to control their lights remotely through mobile apps or voice commands. This trend is driven by the growing adoption of smart home technology and the desire for convenience and energy savings.

Local special circumstances: Namibia has a sunny climate, which makes it an ideal location for solar-powered lighting solutions. Solar-powered lamps and lighting fixtures are gaining popularity in the market as they provide an environmentally friendly and cost-effective alternative to traditional lighting. This trend is particularly relevant in rural areas where access to electricity may be limited. The government of Namibia has also been promoting the use of solar energy through various initiatives, further driving the demand for solar-powered lighting solutions.

Underlying macroeconomic factors: Namibia has been experiencing steady economic growth in recent years, which has contributed to the growth of the Lamps & Lighting market. The country's growing middle class has higher disposable incomes, allowing them to invest in home improvement and decorative lighting products. In addition, the government's focus on infrastructure development and urbanization has created opportunities for the commercial lighting segment. In conclusion, the Lamps & Lighting market in Namibia is witnessing a shift towards energy-efficient and sustainable lighting solutions. LED lighting products, as well as solar-powered lighting solutions, are gaining popularity among environmentally conscious consumers. The market is also seeing a growing demand for smart lighting solutions, driven by the adoption of smart home technology. The underlying macroeconomic factors, such as steady economic growth and government initiatives, are also contributing to the market's development.

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.