Lamps & Lighting - Suriname | Statista Market Forecast

In Suriname, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$2.67m.
The market is projected to experience an annual growth rate of 4.23% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue, reaching US$32bn in 2024.
In terms of per capita income, each person in Suriname generates US$4.24 in revenue in 2024.
Surinamese consumers are increasingly opting for energy-efficient LED lamps to reduce their electricity consumption.

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 Suriname has been experiencing steady growth in recent years, driven by increasing customer preferences for energy-efficient and aesthetically pleasing lighting solutions. Suriname, a small country in South America, has witnessed a surge in construction activities and infrastructure development, which has created a demand for innovative lighting products. Additionally, the government's focus on promoting sustainable and eco-friendly practices has further propelled the growth of the Lamps & Lighting market in Suriname.

Customer preferences: in Suriname have shifted towards energy-efficient lighting solutions, such as led lamps and fixtures. This can be attributed to the rising awareness about the environmental impact of traditional lighting technologies and the need for reducing energy consumption. led lighting not only offers significant energy savings but also has a longer lifespan compared to conventional lighting options. Customers in Suriname are also increasingly inclined towards aesthetically pleasing lighting designs that enhance the ambiance of their living spaces. Trends in the Lamps & Lighting market in Suriname reflect global market trends, with a growing demand for smart lighting solutions. Smart lighting systems, which can be controlled remotely through smartphones or voice assistants, are gaining popularity among consumers in Suriname. These systems offer convenience, energy efficiency, and customization options, allowing users to adjust lighting levels and colors according to their preferences. The integration of smart lighting with home automation systems is also driving the market growth in Suriname. Local special circumstances in Suriname contribute to the development of the Lamps & Lighting market. Suriname has a tropical climate, with long hours of daylight throughout the year. This creates a need for lighting solutions that can effectively illuminate indoor spaces during the daytime. As a result, there is a demand for lighting products that provide natural daylight simulation and minimize the reliance on artificial lighting. Underlying macroeconomic factors also play a significant role in the growth of the Lamps & Lighting market in Suriname. The country's steady economic growth and increasing disposable income levels have led to a rise in consumer spending on home improvement and interior decoration. As a result, there is a growing demand for high-quality lighting products that enhance the overall aesthetics of residential and commercial spaces. In conclusion, the Lamps & Lighting market in Suriname is witnessing growth due to customer preferences for energy-efficient and aesthetically pleasing lighting solutions. The demand for led lamps, smart lighting systems, and lighting products that provide natural daylight simulation is on the rise. The government's focus on promoting sustainability and eco-friendly practices further drives the market growth. The

Underlying macroeconomic factors: such as steady economic growth and increasing disposable income levels, also contribute to the development of the market in Suriname.

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.