The forecast for the import of electric lamps and lighting fittings to South Korea indicates a declining trend over the next five years. Starting at 4.2692 million kilograms in 2024, imports are expected to decrease progressively to 3.5523 million kilograms by 2028. Compared to the actual import volume in 2023, the import volume in 2024 shows minimal variation, but from 2025 onwards, the year-on-year decrease becomes more pronounced.
Year-on-year variations show a consistent decline:
- 2024-2025: -4.33%
- 2025-2026: -4.43%
- 2026-2027: -4.55%
- 2027-2028: -4.66%
The average compound annual growth rate (CAGR) indicates a -4.49% decline per year over the five-year period.
Future trends to watch for include potential shifts in South Korea's domestic production of electric lamps and lighting fittings, which could be driving the reduction in imports. Additionally, advancements in energy-efficient lighting technologies and changes in regulatory policies may further influence import volumes. Monitoring these factors will be crucial for anticipating changes in this market.
