Lamps & Lighting - Bahrain

Bahrain

The Lamps & Lighting market in Bahrain is projected to generate a revenue of €33.27m in 2024.
It is expected to experience an annual growth rate of -0.22% (CAGR 2024-2029).
In comparison to other countries worldwide, in the United States is the leading market, generating a revenue of €29,330m in 2024.
When considering the population, the per person revenue in Bahrain is estimated to be €22.20 in 2024.
Bahrain's growing demand for energy-efficient lighting solutions is driving the adoption of LED lamps in the country's lamps & lighting market.

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

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Analyst Opinion

The Lamps & Lighting market in Bahrain has been experiencing significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Bahrain have been shifting towards more energy-efficient and sustainable lighting solutions. With increasing awareness about the environmental impact of traditional lighting technologies, consumers are opting for led lamps and lighting fixtures. led lighting offers numerous benefits such as energy efficiency, longer lifespan, and lower maintenance costs. Additionally, the growing focus on smart homes and automation has also contributed to the demand for smart lighting solutions.

Trends in the market: indicate a strong growth trajectory for the Lamps & Lighting industry in Bahrain. The government has been actively promoting energy efficiency initiatives and encouraging the adoption of led lighting in both residential and commercial sectors. This has led to a surge in demand for led lamps and fixtures. Furthermore, the increasing urbanization and infrastructure development in Bahrain have also contributed to the growth of the market. As new residential and commercial buildings are constructed, there is a need for lighting solutions, further driving the market.

Local special circumstances: in Bahrain also play a role in the development of the Lamps & Lighting market. The country's small size and high population density create a favorable environment for the market. With limited space available, there is a need for efficient and compact lighting solutions. led lamps and fixtures provide a perfect fit for this requirement, as they are compact and can be easily integrated into different spaces. Additionally, bahrain's strategic location as a regional business hub has attracted international lighting manufacturers to establish their presence in the country, further boosting the market.

Underlying macroeconomic factors: have also contributed to the growth of the Lamps & Lighting market in Bahrain. The country's stable economic environment, favorable investment policies, and supportive government initiatives have attracted foreign direct investment in the lighting industry. This has led to the establishment of manufacturing facilities and distribution networks, ensuring a steady supply of lamps and lighting products in the market. Furthermore, the growing population and increasing disposable income levels have also contributed to the demand for lighting products. In conclusion, the Lamps & Lighting market in Bahrain is experiencing significant growth due to customer preferences for energy-efficient lighting solutions, trends in the market such as government initiatives and infrastructure development, local special circumstances such as limited space and strategic location, and underlying macroeconomic factors such as stable economic environment and increasing population. The market is expected to continue its growth trajectory in the coming years as the demand for energy-efficient and sustainable lighting solutions continues to rise.

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.