In 2023, the import value of non-electrical lamps and lighting fittings to Canada stood at approximately 30 million USD. From 2024 to 2028, projections show a consistent decline, with a compound annual growth rate (CAGR) of approximately -4.5%. Year-on-year, the expected percentage decreases are as follows: -4.6% from 2024 to 2025, -4.7% from 2025 to 2026, -4.8% from 2026 to 2027, and -5% from 2027 to 2028. This steady decline suggests a shrinking market or a shift to alternative solutions.
Future trends to watch for include:
- Potential increase in domestic production to replace imports.
- Growth in smart lighting solutions impacting non-electrical alternatives.
- Changes in consumer preferences towards energy-efficient or eco-friendly options.