The UK electric lighting equipment market saw notable fluctuations from 2013 to 2023. Starting from a value of 4.6725 billion euros in 2013, it peaked in 2014 before experiencing declines and varying growth rates. The market experienced a steep drop in 2020 amidst the pandemic, followed by a significant recovery in 2021. By 2023, it reached 4.6833 billion euros, showing a marginal year-on-year increase of 0.16% and an overall CAGR of -0.76% over the last five years.
Future trends to watch for include:
- Technological advancements in energy-efficient lighting
- Government regulations and incentives promoting sustainable solutions
- Increasing adoption of smart lighting systems
The forecasted figures from 2024 to 2028 suggest a very modest growth rate, with a 5-year forecasted CAGR of 0.13%, indicating a stable but slow market evolution.
