Key Market Indicators
Singapore's lighting import market is projected to climb to approximately $185 million by 2028, up from roughly $175 million in 2023. This marks an annual compound growth rate (CAGR) of 0.8%. The demand for lighting products in Singapore has consistently risen by 0.8% each year since 1994. On the export front, Singapore's lighting industry is expected to see a decline. Exports are forecasted to drop to around $65 million by 2028, down from about $68 million in 2023. This represents an annual CAGR decrease of 1%. Despite this projected decline, Singapore's lighting supply has seen a historical increase of 1.1% annually since 1994.
