Lamps & Lighting - Togo | Statista Market Forecast

In Togo, the revenue in the Lamps & Lighting market in 2024 is estimated to be US$230.30k.
This market is projected to experience an annual growth rate of 0.89% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads in revenue generation with US$32bn in 2024.
In terms of per capita revenue, in Togo generates US$0.02 per person in 2024.
Togo's growing demand for eco-friendly lighting solutions is driving the market for energy-efficient lamps and lighting fixtures.

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 Togo has been experiencing steady growth in recent years. Customer preferences for energy-efficient and sustainable lighting solutions have been driving this trend. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: in Togo have shifted towards energy-efficient lighting solutions. This can be attributed to growing awareness about the environmental impact of traditional lighting technologies and the benefits of energy conservation. Customers are increasingly opting for led lamps and other energy-efficient lighting options that offer long lifespans and lower energy consumption. The demand for sustainable lighting solutions has also been driven by government initiatives promoting energy efficiency and environmental sustainability. Trends in the Lamps & Lighting market in Togo are aligned with global and regional market trends. led lamps have gained popularity due to their energy efficiency, long lifespan, and cost-effectiveness. The market has also witnessed a rise in the demand for smart lighting solutions, which offer advanced features such as remote control, automation, and integration with other smart devices. The increasing adoption of smart home technology and the growing popularity of Internet of Things (iot) devices have contributed to the growth of the smart lighting segment in Togo.

Local special circumstances: in Togo have played a role in shaping the Lamps & Lighting market. The country's rapid urbanization and infrastructure development have created a demand for lighting solutions in residential, commercial, and public spaces. The government's focus on improving access to electricity in rural areas has also contributed to the growth of the market. As more areas in Togo are electrified, there is a need for affordable and reliable lighting solutions.

Underlying macroeconomic factors: have also influenced the development of the Lamps & Lighting market in Togo. Economic growth and rising disposable incomes have increased consumer purchasing power, leading to higher demand for lighting products. Additionally, government initiatives to attract foreign direct investment and promote industrialization have boosted the manufacturing sector, resulting in increased production and availability of lighting products in the market. In conclusion, the Lamps & Lighting market in Togo is developing in response to customer preferences for energy-efficient and sustainable lighting solutions. The market is witnessing a shift towards led lamps and smart lighting solutions, in line with global and regional trends. Local special circumstances such as urbanization and infrastructure development, as well as underlying macroeconomic factors like economic growth and government initiatives, have also contributed to the growth of the market.

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.