Lamps & Lighting - Africa

Africa

In 2024, the revenue generated in the Lamps & Lighting market in Africa amounts to €1.30bn.
It is projected that the market will experience an annual growth rate of 1.20% (CAGR 2024-2029).
When compared to other countries globally, in the United States leads in terms of revenue generation, reaching €29,330m in 2024.
Considering the total population, per person revenues of €1.00 are generated in 2024 in Africa.
In South Africa, there is a rising demand for solar-powered lamps and lighting solutions due to the country's abundant sunlight and efforts towards sustainable energy.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Lamps & Lighting market in Africa has been experiencing significant growth in recent years.

Customer preferences: Customers in Africa have shown a strong preference for energy-efficient lighting solutions. This is primarily driven by the need to reduce energy consumption and lower electricity bills. LED lamps and lighting fixtures have gained popularity in the region due to their long lifespan and low power consumption. Additionally, customers are increasingly looking for aesthetically pleasing lighting options that enhance the overall ambiance of their homes or commercial spaces.

Trends in the market: One of the key trends in the Lamps & Lighting market in Africa is the increasing adoption of solar-powered lighting solutions. This trend is driven by the region's abundant solar resources and the need for off-grid lighting solutions in rural areas with limited access to electricity. Solar lamps and lighting systems are not only environmentally friendly but also offer a cost-effective and sustainable lighting solution for households and businesses. Another trend in the market is the growing demand for smart lighting solutions. With the increasing use of smartphones and other smart devices in Africa, customers are looking for lighting options that can be controlled remotely and offer advanced features such as dimming, color changing, and scheduling. Smart lighting systems provide convenience, energy efficiency, and customization options, making them highly sought after in the market.

Local special circumstances: One of the unique circumstances in the African market is the presence of a large informal sector. Many households and small businesses operate in the informal economy, which often means limited access to formal banking services and financing options. This can pose a challenge for customers looking to invest in higher-priced lighting solutions. However, innovative business models such as pay-as-you-go and leasing options have emerged to cater to this segment, allowing customers to access quality lighting products through affordable installment plans.

Underlying macroeconomic factors: The Lamps & Lighting market in Africa is influenced by various macroeconomic factors. Economic growth, urbanization, and increasing disposable incomes are driving the demand for lighting products in the region. As more people move to cities and improve their living standards, the demand for quality lighting solutions for residential, commercial, and public spaces is expected to grow. Government initiatives and policies also play a significant role in shaping the market. Many African countries have implemented energy efficiency programs and regulations to promote the use of energy-efficient lighting solutions. These initiatives aim to reduce energy consumption, lower carbon emissions, and improve access to affordable and reliable lighting for all. In conclusion, the Lamps & Lighting market in Africa is witnessing growth due to customer preferences for energy-efficient and aesthetically pleasing lighting solutions. The adoption of solar-powered and smart lighting systems is on the rise, driven by the region's solar resources and increasing use of smart devices. The presence of a large informal sector and government initiatives further shape the market dynamics. With economic growth, urbanization, and improving living standards, the demand for lighting products is expected to continue growing in the African market.

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 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.