Based on the forecasted data for the sold production of electric lighting equipment in the UK, we observe a decrease year-on-year from 2024 to 2028. The production value starts at 19.136 million items in 2024 and declines dramatically to 2.8679 million items by 2028.
The year-on-year variation highlights significant declines: a 21.8% drop from 2024 to 2025, a 27.5% decrease from 2025 to 2026, a substantial 37% reduction from 2026 to 2027, and finally a 57.9% drop from 2027 to 2028. This results in an overall Compound Annual Growth Rate (CAGR) of -35.9% over the five-year period.
Considering these trends, future trends to watch for include shifts in market demand possibly driven by technological advancements, regulatory changes, or increased adoption of sustainable alternatives. Companies may need to innovate and adapt to new technologies or diverse product offerings to counteract this declining trend.
