Lamps & Lighting - Americas

Americas

In the year 2024, the revenue generated in the Lamps & Lighting market in the Americas amounts to a staggering US$38.12bn.
This market is projected to experience an annual growth rate of 3.81% from 2024 to 2029, as per the compound annual growth rate (CAGR).
When compared globally, United States stands out as the country generating the highest revenue in this segment, amounting to US$31,960m in 2024.
In terms of per capita revenue, each person in the Americas contributes approximately US$37.49 to the Lamps & Lighting market in 2024.
The demand for energy-efficient LED lamps in the United States is rapidly increasing, driven by government initiatives and growing environmental consciousness.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Lamps & Lighting market in Americas is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Lamps & Lighting market in Americas are shifting towards energy-efficient and sustainable lighting solutions. Consumers are becoming more conscious of their environmental impact and are seeking products that help reduce energy consumption. As a result, there is a growing demand for led lamps and lighting fixtures that offer energy savings and longer lifespan compared to traditional incandescent bulbs. Additionally, customers are also looking for smart lighting solutions that can be controlled remotely and offer advanced features such as dimming and color changing options. Trends in the market indicate a strong focus on innovation and technology. Companies in the Lamps & Lighting industry are investing in research and development to create advanced lighting products that meet the changing needs of customers. This includes the integration of Internet of Things (iot) technology into lighting systems, allowing for greater control and customization. For example, smart lighting systems that can be controlled through mobile apps or voice commands are gaining popularity among consumers.

Local special circumstances: in the Americas region also contribute to the development of the Lamps & Lighting market. The region has a diverse geography and climate, which leads to varying lighting requirements. In countries with extreme weather conditions, such as Canada and parts of the United States, there is a higher demand for outdoor lighting solutions that are durable and weather-resistant. On the other hand, countries with a warmer climate, such as Mexico and Brazil, may prioritize lighting solutions that offer energy efficiency and cooling properties. Underlying macroeconomic factors play a significant role in the growth of the Lamps & Lighting market in Americas. Economic stability and rising disposable incomes in the region have led to increased consumer spending on home improvement and interior design. As a result, there is a growing market for decorative lighting fixtures and designer lamps. Additionally, government initiatives promoting energy efficiency and sustainability also drive the demand for energy-efficient lighting solutions. In conclusion, the Lamps & Lighting market in Americas is witnessing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The focus on energy efficiency, innovation, and technology, along with diverse lighting requirements and economic stability, contribute to the positive trajectory of the market in the region.

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.