Lamps & Lighting - Western Asia

Western Asia

In Western Asia, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$2.75bn.
It is projected to experience an annual growth rate of 1.55% (CAGR 2024-2029).
When compared to other markets worldwide, in the United States generates the highest revenue in this segment, with US$31,960m in 2024.
Looking at the population figures, the per person revenue in Western Asia is US$12.36 in 2024.
The demand for energy-efficient LED lamps is rapidly increasing in Western Asia as the region focuses on sustainability and reducing energy consumption.

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

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Analyst Opinion

The Lamps & Lighting market in Western Asia has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: in Western Asia have shifted towards more energy-efficient and sustainable lighting options. With increasing awareness about the environmental impact of traditional lighting solutions, consumers are actively seeking out led and smart lighting products. These products not only offer energy savings but also provide additional features such as remote control and customization options.

Trends in the market: reflect the increasing demand for smart lighting solutions in Western Asia. The rise of smart homes and the Internet of Things (iot) has led to the integration of lighting systems with other smart devices. Consumers are now able to control their lighting through voice commands or smartphone apps, creating a more convenient and personalized lighting experience. This trend is expected to continue as more households adopt smart home technology.

Local special circumstances: in Western Asia have also contributed to the growth of the Lamps & Lighting market. The region has a high demand for lighting products due to its rapid urbanization and infrastructure development. As cities expand and new buildings are constructed, there is a need for lighting solutions in residential, commercial, and public spaces. Additionally, the region experiences long periods of daylight during certain seasons, leading to a higher demand for lighting products to compensate for the lack of natural light.

Underlying macroeconomic factors: have also played a role in the development of the Lamps & Lighting market in Western Asia. The region has experienced strong economic growth in recent years, leading to increased consumer purchasing power. This has allowed individuals and businesses to invest in higher quality lighting products. Additionally, government initiatives promoting energy efficiency and sustainability have further incentivized the adoption of energy-efficient lighting solutions. In conclusion, the Lamps & Lighting market in Western Asia is developing due to customer preferences for energy-efficient and sustainable lighting options, the trend towards smart lighting solutions, local special circumstances such as rapid urbanization, and underlying macroeconomic factors such as strong economic growth and government initiatives. As these factors continue to drive the market, the Lamps & Lighting industry in Western Asia is expected to experience further growth in the coming years.

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.