Key Market Indicators
Icelander Lighting Sales are projected to decrease to €3.2 million by 2028, down from €3.7 million in 2023. This represents an average annual decline of approximately 2.3%. Since 2019, the country's market has seen a year-on-year decrease of 4.8%. In 2023, Iceland ranked 27th in lighting sales, with Bosnia and Herzegovina slightly ahead at €3.7 million. The top three spots in the ranking were held by the Netherlands, Italy, and the Czech Republic. Conversely, Icelander Lighting Imports are expected to rise significantly. By 2028, imports are predicted to reach $19.3 million, up from $15.7 million in 2023, marking an average annual growth rate of 3.3%. Historically, since 1993, Iceland's demand for imported lighting has increased by an average of 4.9% per year. On the export front, Icelander Lighting Exports are also set to grow. Projections indicate that exports will hit $716,000 by 2028, up from $568,000 in 2023. This equates to an average annual growth rate of 3.6%. Since 1997, the country's supply has grown by an average of 4.2% annually.
