Lamps & Lighting - Nigeria | Statista Market Forecast

In Nigeria, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$397.10m.
It is projected that the market will experience an annual growth rate of 1.69% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with US$32bn in 2024.
In terms of per person revenues, in Nigeria generates US$1.73 in 2024.
Nigeria's growing middle class is driving demand for stylish and energy-efficient lamps and lighting, fueling market growth.

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 Nigeria has been experiencing significant growth in recent years.

Customer preferences: Customers in Nigeria are increasingly looking for energy-efficient and cost-effective lighting solutions. LED lamps and lighting fixtures have gained popularity in the market due to their long lifespan and low energy consumption. Additionally, customers are also showing a preference for aesthetically pleasing and innovative lighting designs that can enhance the overall ambiance of their homes or commercial spaces.

Trends in the market: One of the key trends in the Lamps & Lighting market in Nigeria is the increasing adoption of smart lighting solutions. With the advancement in technology, customers are now able to control and customize their lighting settings through smartphone apps or voice commands. This trend is particularly popular among urban consumers who value convenience and automation in their daily lives. Another trend in the market is the growing demand for solar-powered lighting solutions. Nigeria, like many other African countries, faces challenges in terms of reliable electricity supply. As a result, customers are turning to solar-powered lamps and lighting fixtures as a reliable alternative. This trend is especially prevalent in rural areas where access to electricity is limited.

Local special circumstances: Nigeria has a large population and a rapidly growing urban middle class. This demographic shift has led to an increase in construction activities, both residential and commercial. As a result, there is a growing demand for lamps and lighting fixtures to illuminate these new structures. This presents a significant opportunity for manufacturers and suppliers in the market.

Underlying macroeconomic factors: The Nigerian economy has been recovering from a period of recession, and this has had a positive impact on the Lamps & Lighting market. As disposable incomes rise and consumer confidence improves, customers are more willing to invest in home improvement projects, including upgrading their lighting systems. Additionally, government initiatives promoting energy efficiency and sustainability have also contributed to the growth of the market. In conclusion, the Lamps & Lighting market in Nigeria is witnessing growth due to customer preferences for energy-efficient and aesthetically pleasing lighting solutions. The adoption of smart lighting and solar-powered lighting is also on the rise. The growing population, urbanization, and recovering economy are key factors driving 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.