Lamps & Lighting - North Macedonia

North Macedonia

In 2024, the revenue generated in the Lamps & Lighting market in North Macedonia amounts to US$15.15m.
It is projected that the market will experience an annual growth rate of -0.16% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation in this segment, with a total of US$31,960m in 2024.
To put this into perspective, in North Macedonia, the per person revenue in the Lamps & Lighting market is US$7.28 in 2024.
The demand for traditional handcrafted lamps is on the rise in North Macedonia, reflecting the country's rich cultural heritage and appreciation for artisanal craftsmanship.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Lamps & Lighting market in North Macedonia has been experiencing steady growth in recent years. Customer preferences have shifted towards energy-efficient and sustainable lighting solutions, driving the demand for led lamps and fixtures. Additionally, the increasing focus on smart lighting technology has also contributed to the market growth.

Customer preferences: in the Lamps & Lighting market in North Macedonia have been influenced by global trends. There is a growing awareness among customers about the need for energy-efficient lighting solutions to reduce electricity consumption and lower carbon emissions. led lamps and fixtures have emerged as a popular choice due to their long lifespan, low energy consumption, and environmental benefits. Customers are also increasingly adopting smart lighting systems that offer features such as remote control, dimming, and scheduling, providing convenience and flexibility in lighting management. The market has witnessed several trends in recent years. One of the key trends is the increasing adoption of led lamps and fixtures. led technology has become more affordable and offers significant advantages over traditional lighting sources, such as incandescent and fluorescent lamps. led lamps have a longer lifespan, consume less energy, and provide better quality lighting. As a result, the demand for led lamps and fixtures has been growing steadily in North Macedonia. Another trend in the market is the rising popularity of smart lighting systems. These systems allow users to control and customize their lighting settings using smartphone apps or voice commands. The convenience and energy-saving features of smart lighting systems have attracted customers, especially in residential and commercial sectors. The demand for smart lighting solutions is expected to continue growing as more customers become aware of their benefits and technological advancements make them more accessible. Local special circumstances in North Macedonia have also influenced the Lamps & Lighting market. The country has been investing in energy efficiency measures and promoting sustainable development. The government has implemented policies and initiatives to encourage the use of energy-efficient lighting solutions, including led lamps and fixtures. These efforts have created a favorable environment for the growth of the Lamps & Lighting market. Underlying macroeconomic factors have also played a role in the development of the market. North Macedonia has experienced steady economic growth in recent years, which has increased consumer purchasing power. As a result, customers have been more willing to invest in high-quality and energy-efficient lighting solutions. Additionally, the construction sector has been booming, creating a demand for lighting products in new residential and commercial buildings. In conclusion, the Lamps & Lighting market in North Macedonia has been driven by customer preferences for energy-efficient and sustainable lighting solutions, such as led lamps and fixtures. The market has also witnessed the growing popularity of smart lighting systems.

Local special circumstances: such as government initiatives and investments in energy efficiency, have further supported the market growth. The

Underlying macroeconomic factors: including economic growth and the booming construction sector, have also contributed to the development of the market.

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.