The Electric Lighting Equipment Market in Sweden stood at 1,203.8 million Euros in 2023. From 2013 to 2019, the market showed fluctuations with significant growth in 2015 (33.76%) and 2017 (19.54%). However, the market faced declines in 2014, 2019, and 2020. The recent years from 2021 to 2023 saw a steady recovery starting from 2021, marking a 6.51% increase, followed by consistent growth in 2022 (6%) and 2023 (5.61%).
Considering the forecast from 2024 onwards, the market is expected to grow steadily with an estimated annual average growth rate (CAGR) of 3.62% through 2028, reaching approximately 1,513.8 million Euros by 2028, implying a total growth rate of 19.47% over these five years.
Future trends to watch for include:
- Adoption of smart lighting systems due to technological advancements.
- Increasing emphasis on energy efficiency and sustainability.
- Rising investments in infrastructure and urban development in Sweden.
