The forecasted import value of lamps and lighting fittings to Singapore from 2024 to 2028 shows a consistent upward trend, starting at $295.24 million in 2024 and reaching $301.2 million by 2028. Compared to 2023, when the import value stood at $293 million, the year-on-year growth is modest yet steady.
The year-on-year variations indicate incremental growth: 0.52% from 2024 to 2025, followed by 0.51% from 2025 to 2026, 0.49% from 2026 to 2027, and 0.48% from 2027 to 2028. Over the last two years, the CAGR (Compound Annual Growth Rate) shows an average annual increase of around 0.5%.
Future trends to watch for include technological advancements in energy-efficient lighting, shifts in government regulations or incentives for green energy, and fluctuations in global trade policies. Additionally, rising consumer demand for smart lighting solutions may impact import values, as Singapore continues to embrace smart city initiatives.
