The lighting fixture manufacturing industry in Canada witnessed a revenue increase from 2013 to 2023, moving from 939.79 Million CAD to 1668.2 Million CAD. Notably, the span between 2013 and 2017 saw significant growth rates, peaking in 2016 with a 21.4% increase. While the industry faced a slight dip in 2020 with a -2.27% change, it rebounded with considerable year-on-year growth of 10.3% in 2021. Over 2022 and 2023, the revenue growth stabilized at around 0.6% and 2.49% respectively. The Compound Annual Growth Rate (CAGR) over the past five years stood at 2.56%.

Looking forward, from 2024 to 2028, forecasts indicate a steady growth pattern at an average annual rate of 1.87%, culminating in a 9.73% total growth by 2028. By 2028, the projected revenue is 1881.8 Million CAD.

Future trends to watch for include:

Continued investments in energy-efficient and smart lighting solutions.
Potential impacts of regulatory changes related to environmental standards.
Advancements in technology, particularly IoT integration, influencing industry growth.