Lamps & Lighting - Papua New Guinea

In Papua New Guinea, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$629.10k.
It is projected that this market will experience an annual growth rate of 2.68% (CAGR 2024-2029).
When compared globally, United States leads the way in terms of revenue generation, with a staggering US$32bn in 2024.
On a per capita basis, the revenue generated amounts to US$0.06 in 2024.
In Papua New Guinea, there is a rising demand for traditional handcrafted lamps, reflecting the country's rich cultural heritage.

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 Papua New Guinea is experiencing steady growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Papua New Guinea are shifting towards more energy-efficient and environmentally-friendly lighting options. As consumers become more conscious of their carbon footprint and the need to reduce energy consumption, there is a growing demand for led lamps and lighting solutions. led lighting offers significant energy savings compared to traditional incandescent bulbs, making it an attractive option for both residential and commercial customers.

Trends in the market: also play a role in the development of the Lamps & Lighting market in Papua New Guinea. The increasing urbanization and infrastructural development in the country have created a demand for lighting solutions in residential, commercial, and public spaces. As Papua New Guinea continues to develop, there is a need for efficient and reliable lighting systems to support the growing population and economy.

Local special circumstances: in Papua New Guinea also contribute to the growth of the Lamps & Lighting market. The country's geographical location and topography present unique challenges in terms of access to electricity and lighting. Many rural areas in Papua New Guinea still lack access to electricity, and as a result, there is a demand for off-grid lighting solutions such as solar-powered lamps. These lamps provide a reliable source of light in areas without electricity infrastructure and contribute to improving the quality of life for rural communities.

Underlying macroeconomic factors: also play a role in the development of the Lamps & Lighting market in Papua New Guinea. The country's economic growth and rising disposable incomes have increased the purchasing power of consumers, leading to an increased demand for lighting products. Additionally, government initiatives and incentives to promote energy efficiency and sustainability have further fueled the growth of the market. In conclusion, the Lamps & Lighting market in Papua New Guinea is experiencing growth and development driven by customer preferences for energy-efficient lighting options, trends in the market, local special circumstances, and underlying macroeconomic factors. As the country continues to develop and urbanize, there is a growing demand for efficient and reliable lighting solutions to meet the needs of the population and support economic 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.