The import of non-electrical lamps and lighting fittings to the US is set to decline gradually over the forecasting years, with a decrease from $346.33 million in 2024 to $339.03 million in 2028. This represents a year-on-year decline, averaging a Compound Annual Growth Rate (CAGR) that signifies a slight negative trend. The 2023 data, crucial for grounding the forecast, indicates the starting point for this downward trend.
Future trends to watch for:
- Potential shifts in consumer preferences toward energy-efficient or smart lighting solutions.
- Impact of global economic factors and supply chain disruptions on import volumes and costs.
- Regulatory changes or incentives that could affect domestic production versus imports.
- Advancements in lighting technology and design preferences influencing demand.