The import of chandeliers and other electric ceiling or wall lights to India has shown a steady growth in volume from 2023 to 2028. In 2023, actual imports stood at a lower base compared to the forecasted values. From 2024, the import volume is projected to rise incrementally each year, from 5.1766 million kilograms in 2024 to 5.3111 million kilograms in 2028.
Year-on-year variations indicate:
- 2024 to 2025: A slight increase.
- 2025 to 2026: A continued upward trend.
- 2026 to 2027: A similar steady growth.
- 2027 to 2028: Persistence of the growth pattern.
Over the five years (2024-2028), the Compound Annual Growth Rate (CAGR) demonstrates a consistent yet modest year-over-year increase, indicative of the market's stability.
Future trends to watch for include potential impacts of technological advancements in LED lightning, shifts in consumer preferences towards smart home solutions, and evolving trade policies that could affect import volumes.
