Comfort & Lighting - Romania

Romania

Highlights

Revenue in the Comfort & Lighting market is projected to reach US$36.6m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.32%, resulting in a projected market volume of US$71.6m by 2029.
In the Comfort & Lighting market, the number of active households is expected to amount to 2.0m users by 2029.
Household penetration will be 7.9% in 2024 and is expected to hit 26.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$59.81.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Comfort & Lighting market in Romania is experiencing steady growth due to increasing customer preferences for energy-efficient and sustainable lighting solutions. Customers in Romania are increasingly looking for lighting solutions that not only provide comfort but also help reduce energy consumption and lower electricity bills. This trend is driving the demand for LED lighting products, which are known for their energy efficiency and long lifespan.

Customer preferences: In Romania, customers are increasingly prioritizing energy efficiency and sustainability when it comes to comfort and lighting solutions. This is largely driven by rising electricity prices and a growing awareness of the environmental impact of traditional lighting solutions. LED lighting products are gaining popularity among customers due to their energy-saving capabilities and longer lifespan compared to traditional incandescent bulbs. Additionally, customers are also looking for lighting solutions that offer adjustable brightness and color temperature to create a comfortable and personalized ambiance in their homes or workplaces.

Trends in the market: One of the key trends in the Comfort & Lighting market in Romania is the increasing adoption of smart lighting solutions. Smart lighting systems allow customers to control the brightness, color, and timing of their lights through mobile apps or voice assistants. This not only enhances convenience but also enables customers to further optimize energy consumption by scheduling lights to turn on or off automatically. The integration of smart lighting with other smart home devices, such as motion sensors and smart thermostats, is also gaining traction in Romania. Another trend in the market is the growing demand for human-centric lighting. This refers to lighting solutions that mimic natural daylight and have a positive impact on human well-being and productivity. Human-centric lighting is especially relevant in office spaces and healthcare facilities, where the quality of lighting can significantly affect the mood, focus, and overall comfort of individuals. As more companies and institutions in Romania recognize the importance of creating a comfortable and productive environment for their employees or patients, the demand for human-centric lighting solutions is expected to increase.

Local special circumstances: Romania has been focusing on improving its energy efficiency and reducing its carbon footprint, which has led to various initiatives and regulations promoting the use of energy-efficient lighting solutions. The government has implemented energy-saving programs and incentives to encourage the adoption of LED lighting products in both residential and commercial sectors. Additionally, Romania is also investing in the development of smart cities, which includes the implementation of smart lighting systems to enhance energy efficiency and improve the quality of life for its citizens.

Underlying macroeconomic factors: The Comfort & Lighting market in Romania is influenced by several macroeconomic factors. The country's economic growth and increasing disposable income levels have contributed to the rising demand for comfort and lighting products. As the standard of living improves, customers are willing to invest in higher-quality lighting solutions that offer energy efficiency and enhanced comfort. Additionally, the government's focus on energy efficiency and sustainability aligns with the growing customer preferences, further driving the market growth. In conclusion, the Comfort & Lighting market in Romania is experiencing growth driven by increasing customer preferences for energy-efficient and sustainable lighting solutions. LED lighting products, smart lighting systems, and human-centric lighting are the key trends in the market. The government's initiatives and regulations promoting energy efficiency, along with the country's economic growth, are contributing to the market development.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us 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 relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.