The electric lighting equipment sector in Spain showcased significant fluctuations from 2013 to 2023. After steady growth from 2013 to 2018, with a Compound Annual Growth Rate (CAGR) of up to 15.09% in 2017, the market faced a downturn in 2019 and 2020. However, it rebounded in 2021 with a notable 29.4% year-on-year increase. By 2023, production stood at 2.93 billion euros, reflecting an 8.22% increase compared to the previous year. The latest 5-year CAGR until 2023 was 0.55%, indicating moderate growth.
Looking forward, forecasted data suggest a steady rise, with production expected to reach 3.48 billion euros by 2028. The anticipated 5-year CAGR is 2.75%, translating to an overall growth rate of 14.52% over the forecast period. Future trends to watch for include technological advancements in energy-efficient lighting, potential regulatory changes, and shifts in market demand driven by sustainability goals.
