Key Market Indicators
Korean lighting imports are projected to decline to approximately $108 million by 2028, down from around $113 million in 2023. This represents an annual decrease of 0.6%. Despite this downturn, the demand for lighting products in Korea has grown steadily at an annual rate of 1.9% since 1993. On the export front, Korean lighting products are forecasted to reach about $285 million by 2028, a slight drop from nearly $287 million in 2023. The export market is anticipated to shrink by 0.1% annually. However, the supply of Korean lighting products has seen a consistent annual growth of 1.3% since 1993.
