Lamps & Lighting - Egypt

Egypt

In Egypt, the revenue generated in the Lamps & Lighting market is projected to reach €150.10m in 2024.
This market is anticipated to grow at an annual rate of 4.72% (CAGR 2024-2029).
In comparison to other countries worldwide, in the United States leads the market with a revenue of €29,330m in 2024.
Considering the total population, the per person revenue in Egypt is estimated to be €1.31 in 2024.
Egypt's market for lamps and lighting is experiencing a surge in demand due to the country's rapid urbanization and growing consumer preference for energy-efficient and aesthetically pleasing lighting solutions.

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

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Analyst Opinion

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

Customer preferences: in Egypt have been shifting towards more energy-efficient and sustainable lighting solutions. With increasing awareness about the environmental impact of traditional lighting options, consumers are opting for led lights, which consume less energy and have a longer lifespan. Additionally, there is a growing demand for smart lighting systems that can be controlled remotely through mobile apps or voice commands. These customer preferences align with global trends in the lighting market, where energy efficiency and smart technology are gaining prominence. The market trends in egypt's Lamps & Lighting industry are also contributing to its development. The government has implemented various initiatives to promote energy-efficient lighting solutions, such as the phase-out of incandescent bulbs and the introduction of subsidies for led lights. These measures have not only encouraged consumers to adopt energy-efficient lighting but have also attracted investments in the manufacturing and distribution of led lights in the country. Furthermore, the increasing urbanization and infrastructure development in Egypt have created a demand for lighting solutions in residential, commercial, and industrial sectors, further driving the growth of the market.

Local special circumstances: in Egypt, such as the high electricity costs and frequent power cuts, have also played a role in the development of the Lamps & Lighting market. led lights, with their lower energy consumption, help consumers reduce their electricity bills. Additionally, the longer lifespan of led lights reduces the need for frequent replacements, leading to cost savings in the long run. Moreover, the power cuts in Egypt have made consumers more conscious of the need for reliable lighting solutions, further driving the demand for led lights and backup power systems.

Underlying macroeconomic factors: have also contributed to the growth of the Lamps & Lighting market in Egypt. The country's stable economic growth and increasing disposable income have enabled consumers to invest in energy-efficient lighting solutions. Furthermore, the favorable government policies and incentives have attracted both domestic and foreign investments in the lighting industry, leading to the expansion of manufacturing facilities and distribution networks. In conclusion, the Lamps & Lighting market in Egypt is developing due to customer preferences for energy-efficient and sustainable lighting solutions, market trends promoting led lights and smart lighting systems, local special circumstances such as high electricity costs and power cuts, and underlying macroeconomic factors including stable economic growth and government incentives. These factors have created a favorable environment for the growth of the market, with increasing adoption of led lights and investments in the lighting industry.

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.