The time switches market in Portugal reached a size of $9.719 million in 2023. Over the last two years (2022-2023), the market exhibited minimal growth, showing a year-on-year variation of approximately 0.011%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was a modest 1.01%, indicating a relatively stable but slow-growing market.
Future trends to watch for include:
- Technological advancements in energy efficiency and smart home applications that may drive demand for more advanced time switch solutions.
- Regulatory changes promoting energy conservation which could influence the adoption of time switches.
- Potential economic factors and market saturation that could impact future growth trajectories.
| # | 25 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 236,430,000 | 2023 | +3.95% | +4.27% | View data |
| 2 | 2 Germany | 110,400,000 | 2023 | -0.04% | -0.093% | View data |
| 3 | 3 Japan | 96,188,000 | 2023 | -3.77% | -4.11% | View data |
| 4 | 4 Australia | 52,062,000 | 2023 | +2.39% | +1.97% | View data |
| 5 | 5 Italy | 50,925,000 | 2023 | -16.39% | -12.3% | View data |
| 11 | 11 South Africa | 11,705,000 | 2023 | -2.37% | -1.95% | View data |
| 12 | 12 Greece | 10,759,000 | 2023 | -1.02% | -2.12% | View data |
| 13 | 13 Portugal | 9,719,000 | 2023 | +0.011% | +1.01% | |
| 14 | 14 Switzerland | 9,586,200 | 2023 | -2.12% | -1.74% | View data |
| 15 | 15 Belgium | 7,474,800 | 2023 | -8.66% | -8.58% | View data |
