Lamps & Lighting - New Zealand

New Zealand

In 2024, the Lamps & Lighting market in New Zealand generates a revenue of NZD €213.90m.
It is projected to experience an annual growth rate of 2.14% (CAGR 2024-2029).
When compared globally, in the United States has the highest revenue in this segment, amounting to €29,330m in 2024.
Considering the population, the per capita revenue in New Zealand for the year 2024 is NZD €40.59.
New Zealand's growing interest in sustainable living is driving a surge in demand for energy-efficient and eco-friendly lamps and lighting solutions.

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

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Analyst Opinion

The Lamps & Lighting market in New Zealand has been experiencing steady growth in recent years, driven by customer preferences for energy-efficient and eco-friendly lighting solutions.

Customer preferences: Customers in New Zealand are increasingly conscious of the environmental impact of their purchasing decisions, and this has influenced their preferences in the Lamps & Lighting market. Energy-efficient LED lighting has gained popularity due to its long lifespan and lower energy consumption compared to traditional incandescent bulbs. LED lighting also offers a wide range of options in terms of color temperature and brightness, allowing customers to create the desired ambiance in their homes or businesses. Additionally, there is a growing demand for smart lighting solutions that can be controlled remotely through smartphone apps or voice assistants.

Trends in the market: One of the key trends in the Lamps & Lighting market in New Zealand is the shift towards LED lighting. This trend is driven by the government's initiatives to promote energy efficiency and reduce carbon emissions. The government has implemented regulations and incentives to encourage the use of LED lighting in residential and commercial buildings. As a result, there has been a significant increase in the adoption of LED lighting solutions across various sectors. Another trend in the market is the growing popularity of decorative lighting. Customers are increasingly looking for unique and aesthetically pleasing lighting fixtures that can enhance the overall design of their living spaces. This trend has led to an increase in the demand for decorative lamps, pendant lights, and chandeliers.

Local special circumstances: New Zealand has a unique geography and climate, which has an impact on the Lamps & Lighting market. The country experiences long daylight hours during the summer months, which reduces the need for artificial lighting. As a result, the demand for lighting products tends to be higher during the winter months when daylight hours are shorter. Additionally, New Zealand has a high rate of home ownership, which creates opportunities for the residential lighting market.

Underlying macroeconomic factors: The Lamps & Lighting market in New Zealand is influenced by various macroeconomic factors. The country has a stable economy with a growing population and a strong housing market. This has led to an increase in construction activities, both residential and commercial, driving the demand for lighting products. Moreover, the government's focus on sustainable development and energy efficiency has created a favorable environment for the growth of the Lamps & Lighting market. In conclusion, the Lamps & Lighting market in New Zealand is witnessing growth due to customer preferences for energy-efficient and eco-friendly lighting solutions. The shift towards LED lighting, the demand for decorative lighting, and the unique local circumstances in New Zealand are driving the market trends. Additionally, the underlying macroeconomic factors, such as population growth and construction activities, are contributing to the market's development.

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.