Lamps & Lighting - Estonia

Estonia

In Estonia, the revenue generated in the Lamps & Lighting market in 2024 amounts to €14.83m.
It is projected that this market will experience an annual growth rate of 0.64% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with a total of €29,330m in 2024.
In relation to the total population, per person revenues of €11.25 are generated in Estonia in 2024.
The lighting market in Estonia is experiencing a surge in demand for energy-efficient LED lamps.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Lamps & Lighting market in Estonia has been experiencing steady growth in recent years, driven by customer preferences for energy-efficient and aesthetically pleasing lighting solutions.

Customer preferences: In line with global trends, customers in Estonia are increasingly looking for energy-efficient lighting options. This is driven by growing environmental awareness and the desire to reduce energy consumption and lower electricity bills. LED lighting has gained popularity in the market due to its energy efficiency and long lifespan. Customers also prefer lighting solutions that offer flexibility and control, such as smart lighting systems that can be controlled through mobile apps or voice assistants.

Trends in the market: One of the key trends in the Lamps & Lighting market in Estonia is the shift towards LED lighting. LED technology has become more affordable in recent years, making it an attractive option for both residential and commercial customers. LED lamps offer significant energy savings compared to traditional incandescent bulbs, as well as a longer lifespan. This trend is expected to continue as customers become more aware of the benefits of LED lighting. Another trend in the market is the increasing demand for smart lighting solutions. Smart lighting allows customers to control the brightness, color, and timing of their lights, providing a personalized lighting experience. This trend is driven by the growing popularity of smart homes and the desire for convenience and customization. Customers are willing to invest in smart lighting systems that offer energy savings and enhanced functionality.

Local special circumstances: Estonia has a relatively small market size compared to larger countries, which can limit the availability of certain lighting products and technologies. However, this also presents opportunities for local manufacturers and retailers to cater to the specific needs of the Estonian market. Local companies can focus on offering energy-efficient lighting solutions that comply with the country's regulations and standards.

Underlying macroeconomic factors: The growth of the Lamps & Lighting market in Estonia is supported by the country's overall economic development. Estonia has experienced steady economic growth in recent years, which has increased consumer purchasing power and disposable income. This allows customers to invest in higher-quality lighting products and innovative solutions. Additionally, the government's focus on sustainability and energy efficiency has created a favorable environment for the adoption of energy-efficient lighting technologies. In conclusion, the Lamps & Lighting market in Estonia is driven by customer preferences for energy-efficient and customizable lighting solutions. The shift towards LED lighting and the increasing demand for smart lighting systems are key trends in the market. Local manufacturers and retailers have the opportunity to cater to the specific needs of the Estonian market, while the country's overall economic development and focus on sustainability support the growth of 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 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.