The electric lighting equipment production value in Belgium has seen significant fluctuations from 2013 to 2023, achieving a value of 401.7 million Euros in 2023. The most notable variations include a sharp decline of 26.63% in 2016 and a peak increase of 23.2% in 2015. The last two years showed a continued decline with a year-on-year decrease of 7.04% in 2022 and 7.53% in 2023, resulting in a 4.18% average annual decrease (CAGR) over the past five years.
Forecasts from 2024 to 2028 indicate a continued downward trend, with the production value expected to drop to 243.4 million Euros by 2028, reflecting an 8% average annual decrease and an overall reduction of 34.11% over the forecasted period.
Future trends to watch for include technological advancements in energy-efficient lighting, potential policy changes influencing production and consumption, and shifts in global supply chains that could impact production costs and demand. Adapting to smart lighting solutions and sustainable practices could play a crucial role in mitigating the continued decline.
