In 2023, the electric lighting equipment sector in Austria reached 10.252 million hours worked. The sector has experienced varying growth rates over the years. Between 2013 and 2023, notable year-on-year variations included a peak growth of 14.08% in 2018 and a significant decline of -7.98% in 2020. In the last two years, the sector saw moderate growth with increases of 2.62% in 2022 and 2.53% in 2023. The 5-year CAGR leading up to 2023 averaged 0.78% annually.
The forecast indicates continued growth, with projections for 2024 through 2028 showing a 5-year CAGR of 1.79%, resulting in a cumulative growth rate of 9.29% over this period.
Future trends to watch for include advancements in LED technology, energy efficiency regulations, and increased automation in lighting systems. These factors could drive further growth and potential shifts in hours worked within the sector.
