Lamps & Lighting - Morocco

Morocco

In Morocco, the revenue generated in the Lamps & Lighting market in 2024 amounts to €35.60m.
It is projected that the market will experience an annual growth rate of -0.10% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching €29,330m in 2024.
In terms of per person revenues, in Morocco generates €0.93 in 2024.
Moroccan consumers are increasingly embracing traditional Moroccan lamps and lighting fixtures to add a touch of authenticity to their homes.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Lamps & Lighting market in Morocco has been experiencing steady growth in recent years. Customer preferences for energy-efficient and sustainable lighting solutions have been driving the demand for lamps and lighting products in the country.

Customer preferences: Moroccan customers are increasingly opting for energy-efficient lighting solutions due to rising awareness about environmental sustainability and the need to reduce energy consumption. LED lamps and lighting fixtures have gained popularity in the market due to their long lifespan, low energy consumption, and cost-effectiveness. Customers are also showing a preference for smart lighting solutions that can be controlled remotely through mobile applications. This trend is driven by the growing adoption of smart home technology and the convenience it offers in terms of controlling lighting settings and energy usage.

Trends in the market: One of the key trends in the Lamps & Lighting market in Morocco is the shift towards LED lighting solutions. LED lamps are more energy-efficient compared to traditional incandescent bulbs and fluorescent lights, making them an attractive choice for both residential and commercial customers. The government of Morocco has also implemented energy efficiency programs and regulations to promote the use of LED lighting, further driving the demand for these products. Another trend in the market is the increasing demand for decorative and designer lighting fixtures. Moroccan customers have a rich cultural heritage and a strong appreciation for aesthetics. As a result, there is a growing demand for decorative lighting fixtures that add a touch of elegance and style to homes and commercial spaces. This trend is particularly evident in the hospitality sector, where hotels and resorts are investing in high-quality lighting fixtures to create a unique ambiance for their guests.

Local special circumstances: Morocco has been focusing on developing its renewable energy sector in recent years. The country has set ambitious targets to increase the share of renewable energy in its overall energy mix. This has created opportunities for companies operating in the Lamps & Lighting market to provide sustainable and energy-efficient lighting solutions. The government's support for renewable energy projects and the growing awareness among customers about the importance of sustainable living have contributed to the growth of the market.

Underlying macroeconomic factors: Morocco's economy has been growing steadily, driven by sectors such as tourism, construction, and manufacturing. The growth in these sectors has led to an increase in the demand for lamps and lighting products for residential, commercial, and industrial purposes. Additionally, the government's focus on infrastructure development and urbanization has created opportunities for the Lamps & Lighting market. As cities expand and new buildings are constructed, the demand for lighting fixtures and solutions is expected to continue to grow. In conclusion, the Lamps & Lighting market in Morocco is witnessing growth due to customer preferences for energy-efficient and sustainable lighting solutions, the shift towards LED lighting, the demand for decorative lighting fixtures, the focus on renewable energy, and the overall economic growth of the country.

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.