Lamps & Lighting - Romania

Romania

In Romania, the revenue generated in the Lamps & Lighting market is estimated to reach US$81.78m in 2024.
It is projected to experience an annual growth rate of 2.38% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching US$31,960m in 2024.
In terms of per capita figures, in Romania generates revenues of US$4.17 per person in 2024.
The demand for energy-efficient LED lamps in Romania is steadily increasing due to government initiatives and rising awareness about sustainable lighting solutions.

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

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Analyst Opinion

The Lamps & Lighting market in Romania has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Romania have been shifting towards more energy-efficient and environmentally-friendly lighting options. This has led to an increased demand for led lamps and lighting fixtures, which offer significant energy savings and longer lifespans compared to traditional incandescent bulbs. Customers are also increasingly interested in smart lighting solutions that can be controlled remotely and offer customizable lighting options. These customer preferences align with global trends in the lighting market, where energy efficiency and smart technology are becoming increasingly important. Trends in the market also contribute to the development of the Lamps & Lighting market in Romania. The growing popularity of online shopping has made it easier for customers to access a wider range of lighting products and compare prices. This has increased competition among retailers and manufacturers, leading to lower prices and a greater variety of products available to customers. Additionally, the increasing focus on sustainability and energy efficiency has prompted manufacturers to develop innovative lighting solutions that meet these demands. This has resulted in the introduction of new products and technologies in the market, further driving its growth.

Local special circumstances: in Romania also play a role in the development of the Lamps & Lighting market. The government has implemented various initiatives and regulations to promote energy efficiency and reduce carbon emissions, including subsidies for energy-efficient lighting products. These measures have incentivized customers to invest in energy-efficient lighting solutions, further driving the growth of the market. Additionally, the increasing urbanization and development of infrastructure in Romania have created a greater demand for lighting products in residential, commercial, and industrial sectors.

Underlying macroeconomic factors: also contribute to the development of the Lamps & Lighting market in Romania. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed customers to invest in higher-quality lighting products and upgrade their existing lighting systems. Furthermore, the construction industry in Romania has been growing, leading to an increased demand for lighting products in new residential and commercial buildings. In conclusion, the Lamps & Lighting market in Romania is developing due to customer preferences for energy-efficient and smart lighting solutions, market trends such as online shopping and sustainability, local special circumstances including government initiatives and urbanization, and underlying macroeconomic factors such as economic growth and the construction industry. These factors have contributed to the steady growth of the market and are expected to continue driving its development in the future.

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.