The Finnish market for ballasts for discharge lamps or tubes, excluding inductors, decreased significantly from 2013 to 2023, with the market value dropping by 35% over this period. The market size in 2023 stood at 14.753 million Euros. The year-on-year decrease in 2022 and 2023 was 6.73% and 7.14%, respectively. Over the past five years, the compound annual growth rate (CAGR) was negative, at -5.54%, indicating a consistent downward trend.
Future trends to watch for include advances in LED technology continuing to push traditional ballast systems out of the market, regulatory changes influencing energy-efficient lighting solutions, and potential increases in demand for sustainable and eco-friendly lighting technologies.
