Lamps & Lighting - Nordics | Statista Market Forecast

In 2024, the revenue in the Lamps & Lighting market in the Nordics amounts to US$2.46bn.
It is projected that the market will experience an annual growth rate of 5.02% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this segment, with a total of US$32bn in 2024.
Considering the population figures, the per person revenue in the Nordics is US$87.72 in 2024.
In the Nordics, the demand for minimalist and sustainable lighting solutions is on the rise.

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 Nordics has been experiencing steady growth in recent years, driven by several key factors. Customer preferences in the region have shifted towards energy-efficient and sustainable lighting solutions, leading to increased demand for led lamps and smart lighting systems. Additionally, the market has been influenced by local special circumstances, such as the region's long winter nights and the emphasis on creating cozy and well-lit indoor spaces. These factors, combined with underlying macroeconomic factors, have contributed to the development of the Lamps & Lighting market in Nordics.

Customer preferences: in the Nordics have been a driving force behind the growth of the Lamps & Lighting market. Consumers in the region prioritize energy efficiency and sustainability, and they are increasingly opting for led lamps over traditional incandescent bulbs. led lamps offer significant energy savings and have a longer lifespan, making them an attractive choice for environmentally-conscious consumers. In addition, there is a growing demand for smart lighting systems that can be controlled remotely and offer customizable lighting options. This trend towards energy-efficient and smart lighting solutions has contributed to the overall growth of the Lamps & Lighting market in Nordics. Trends in the market also reflect the unique

Local special circumstances: in the Nordics. The region experiences long winter nights, with limited daylight hours, which has led to a greater emphasis on creating well-lit indoor spaces. This has resulted in increased demand for lamps and lighting fixtures that provide ample and cozy lighting, creating a warm and inviting atmosphere. Moreover, the Nordic design aesthetic, known for its focus on simplicity, functionality, and natural materials, has influenced the demand for lamps and lighting fixtures that complement this style. scandinavian-inspired designs, characterized by clean lines and minimalist aesthetics, have gained popularity in the region, further driving the growth of the Lamps & Lighting market.

Underlying macroeconomic factors: have also played a role in the development of the Lamps & Lighting market in Nordics. The region has experienced stable economic growth, which has increased consumer purchasing power and led to higher spending on home decor and improvement. As a result, consumers are more willing to invest in high-quality lamps and lighting solutions that enhance their living spaces. Additionally, government initiatives and regulations promoting energy efficiency and sustainability have further incentivized consumers to choose energy-efficient lighting options, driving the demand for led lamps and smart lighting systems. In conclusion, the Lamps & Lighting market in Nordics has experienced growth due to customer preferences for energy-efficient and sustainable lighting solutions, local special circumstances such as long winter nights and the emphasis on creating cozy indoor spaces, and underlying macroeconomic factors such as stable economic growth and government initiatives promoting energy efficiency. These factors have contributed to the development of a thriving and innovative Lamps & Lighting market in the Nordics.

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.