Lamps & Lighting - Spain

Spain

In Spain, the revenue generated in the Lamps & Lighting market amounts to €1.27bn in 2024.
It is projected to experience an annual growth rate of 1.08% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching €29,640m in 2024.
Taking into account the total population figures, per person revenues amount to €26.72 in 2024.
The demand for modern, energy-efficient lighting solutions in Spain is driving the growth of the lamps and lighting market.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Lamps & Lighting market in Spain is experiencing steady growth and development, driven by customer preferences for energy-efficient and aesthetically pleasing lighting solutions.

Customer preferences: In Spain, customers are increasingly seeking energy-efficient lighting options that can help reduce electricity consumption and lower utility bills. LED lighting has gained significant popularity in recent years due to its long lifespan, low energy consumption, and cost-effectiveness. Customers are also looking for lighting solutions that can enhance the ambiance and aesthetics of their homes or commercial spaces. As a result, there is a growing demand for decorative and designer lighting fixtures that can add style and sophistication to any environment.

Trends in the market: The Lamps & Lighting market in Spain is witnessing several key trends. Firstly, there is a shift towards smart lighting systems that can be controlled remotely through mobile apps or voice commands. These systems offer convenience, flexibility, and energy savings, as users can easily adjust the brightness and color temperature of their lights to suit their preferences. Secondly, there is an increasing focus on sustainable lighting solutions, with more companies offering products made from eco-friendly materials and using manufacturing processes that minimize environmental impact. Lastly, there is a growing trend towards personalized lighting solutions, where customers can customize the color, intensity, and direction of light to create unique lighting effects and moods.

Local special circumstances: Spain has a strong tradition of design and craftsmanship, which has contributed to the popularity of decorative lighting fixtures in the market. Spanish consumers value high-quality products that are not only functional but also aesthetically pleasing. This has led to the emergence of local lighting brands and designers who cater to this demand for unique and stylish lighting solutions. Additionally, Spain has a vibrant tourism industry, with millions of visitors each year. This has created a demand for lighting solutions that can enhance the visual appeal of hotels, restaurants, and other tourist attractions.

Underlying macroeconomic factors: The Lamps & Lighting market in Spain is influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to increased consumer spending on home improvement and renovation projects. As a result, there is a higher demand for lighting products that can enhance the overall look and feel of living spaces. Furthermore, the Spanish government has implemented energy efficiency regulations and incentives to promote the use of energy-efficient lighting solutions. This has encouraged consumers and businesses to adopt LED lighting, driving the growth of the market. Overall, the Lamps & Lighting market in Spain is expected to continue its positive trajectory, driven by customer preferences for energy-efficient and aesthetically pleasing lighting solutions, as well as favorable macroeconomic conditions and government initiatives.

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.