The sold production of semiconductor light emitting diodes (LEDs) in the UK is projected to decline over the next five years. In 2023, the value stood at 20.283 million Euros. The data for 2024 shows a forecast value of 19.435 million Euros, representing a decrease of approximately 4.2% from the previous year. By 2025, the value is expected to drop further to 18.6 million Euros, marking a year-on-year decrease of 4.3%. For 2026, the value is forecasted at 17.783 million Euros, a 4.4% decrease from 2025. A similar trend continues through 2027 and 2028 with forecasted values of 16.982 million Euros and 16.196 million Euros, respectively, translating to year-on-year declines of 4.5% and 4.6%. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) stands at approximately -4.3%, indicating an average annual decrease.
Future Trends to Watch For:
- Increasing adoption of energy-efficient lighting solutions and potential regulatory changes promoting sustainable technologies may impact the market.- Technological advancements and innovations in LED manufacturing could potentially counterbalance the declining trend.- Market dynamics such as international trade policies and competitive pressures from global manufacturers will continue to play a crucial role.
