Lamps & Lighting - China

China

In the year 2024, the revenue in the Lamps & Lighting market in China amounts to US$6.75bn.
It is projected that this market will experience an annual growth rate of 9.36% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, with a total of US$31,960m in 2024.
In terms of per capita revenue, each person in China generates approximately US$4.71 in 2024.
China's growing middle class is driving demand for high-quality, energy-efficient lamps and lighting solutions.

Key regions: Brazil, Canada, Germany, Denmark, United Kingdom

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Analyst Opinion

The Lamps & Lighting market in China has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the Lamps & Lighting market in China have shifted towards more energy-efficient and eco-friendly products. With increasing environmental awareness and a focus on sustainability, consumers are seeking lighting solutions that are both stylish and energy-saving. led lighting has gained popularity due to its long lifespan, low energy consumption, and versatility in design. Additionally, there is a growing demand for smart lighting systems that can be controlled remotely through mobile applications, allowing users to adjust the brightness and color of the lights according to their preferences.

Trends in the market: also contribute to the development of the Lamps & Lighting industry in China. The rapid urbanization and infrastructure development in the country have led to an increased demand for lighting products in residential, commercial, and industrial sectors. The government's emphasis on energy conservation and efficiency has further stimulated the market, with various initiatives and policies promoting the use of energy-saving lighting solutions. Furthermore, the rise of e-commerce platforms has made it easier for consumers to access a wide range of lighting products, driving market growth.

Local special circumstances: in China have played a significant role in shaping the Lamps & Lighting market. The country's large population and rising disposable incomes have created a strong consumer base for lighting products. Moreover, the Chinese government's support for domestic manufacturers through subsidies and preferential policies has encouraged the growth of local lighting companies. As a result, China has become a major player in the global lighting market, exporting its products to various countries worldwide. Underlying macroeconomic factors have also influenced the development of the Lamps & Lighting market in China. The country's robust economic growth and increasing urbanization have led to higher living standards and a greater demand for quality lighting products. Additionally, the government's focus on infrastructure development and urban beautification projects has created opportunities for the lighting industry. Moreover, china's position as a manufacturing hub has allowed for cost-effective production and export of lighting products, contributing to the market's growth. In conclusion, the Lamps & Lighting market in China is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards energy-efficient and eco-friendly lighting solutions, along with the increasing demand for smart lighting systems, has driven market growth. The government's support for domestic manufacturers and the country's economic development have also played a crucial role in shaping the 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 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.