The residential-type electric lighting fixtures market in the US is expected to see a consistent downturn over the next five years, starting from $805.81 million in 2024 and gradually decreasing to $766.26 million by 2028. Notably, the sales were higher in previous years, with 2023 serving as a significant baseline for actual sales figures. The year-on-year variation from 2024 to 2025 shows a decrease of approximately 1.27%, while from 2025 to 2026, it further declines by around 1.26%. The compound annual growth rate (CAGR) over these five years roughly indicates an annual decline of about 1.25%.
Future trends to watch for:
- Technological advancements in energy-efficient and smart lighting solutions.
- Consumer shift towards sustainable and eco-friendly lighting products.
- Potential regulatory changes impacting the lighting fixture industry.
- Economic factors influencing consumer spending on residential enhancements.
