The export of electric lamps and lighting fittings from Vietnam has shown significant fluctuation over the past decade. Starting from 24.197 million USD in 2013, the export value saw substantial growth, reaching 107.73 million USD in 2023. Notable variations include dramatic increases in 2014 and 2021, and notable declines in 2016 and 2020, showing the volatile nature of this market. The CAGR over the last five years (2019-2023) was 5.55%, indicating moderate annual growth.
Looking ahead, forecasts suggest continued growth, with exports expected to reach 133.41 million USD by 2028. The forecast five-year CAGR is estimated at 3.33%, hinting at a slower but steady increase compared to past years.
Future trends to watch for include technological advancements in lighting, increasing global demand for energy-efficient products, and Vietnam's evolving trade agreements. Monitoring these factors will be crucial in understanding the market's trajectory.
