Lamps & Lighting - Portugal

Portugal

In Portugal, the revenue generated in the Lamps & Lighting market reaches US$211.70m in 2024.
It is projected to experience an annual growth rate of 0.49% (CAGR 2024-2029).
When compared globally, in the United States stands out as the leader in terms of revenue, generating US$31,960m in 2024.
Taking into account the total population figures, per person revenues amount to US$20.70 in 2024.
"Portugal, known for its rich heritage in craftsmanship, is witnessing a resurgence in traditional handcrafted lamps & lighting, reflecting the country's commitment to preserving its cultural identity."

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

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Analyst Opinion

The Lamps & Lighting market in Portugal has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in the Lamps & Lighting market have shifted towards more energy-efficient and sustainable products. Consumers are increasingly concerned about the environmental impact of their purchases and are seeking out lighting solutions that are both aesthetically pleasing and eco-friendly. led lighting has gained popularity due to its energy efficiency and long lifespan, and is now the preferred choice for many consumers in Portugal. Additionally, smart lighting systems that can be controlled remotely through mobile devices have also gained traction, as they offer convenience and energy savings. Trends in the market also reflect global and regional developments. The growing emphasis on smart homes and automation has led to increased demand for smart lighting solutions that can be integrated into these systems. This trend is expected to continue as more consumers adopt smart home technologies. Furthermore, the rise of e-commerce has made it easier for consumers to access a wide range of lighting products, including niche and specialty items. Online retailers offer a convenient shopping experience and often provide detailed product information, making it easier for consumers to compare and choose the right lighting solutions for their needs. portugal's

Local special circumstances: have also contributed to the growth of the Lamps & Lighting market. The country has made significant progress in terms of energy efficiency and sustainability in recent years. Government initiatives and regulations have encouraged the use of energy-efficient lighting solutions, such as led bulbs, in both residential and commercial buildings. In addition, Portugal has a strong tourism industry, attracting millions of visitors each year. This has created a demand for high-quality lighting solutions in hotels, restaurants, and other hospitality establishments. Underlying macroeconomic factors have also played a role in the development of the Lamps & Lighting market in Portugal. The country's economy has been growing steadily, leading to increased consumer spending power. As disposable incomes rise, consumers are more willing to invest in high-quality lighting products that offer long-term cost savings. Furthermore, the construction industry in Portugal has been booming, with new residential and commercial projects driving demand for lighting solutions. In conclusion, the Lamps & Lighting market in Portugal is experiencing growth due to changing customer preferences, global and regional trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards energy-efficient and sustainable products, the rise of smart home technologies, and the convenience of online shopping are driving the market forward. Government initiatives, the strong tourism industry, and the country's economic growth are also contributing to the market's development.

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.