The import of Fluorescent Hot Cathode Lamps to Chile is projected to decrease over the next five years from $5.59 million in 2024 to $1.14 million in 2028. This represents a consistent year-on-year decline. In 2023, the import value stood at $6.98 million, indicating a substantive decrease from the previous years.
Year-on-year variations:
- 2024: -19.94%
- 2025: -20.51%
- 2026: -25.29%
- 2027: -33.19%
- 2028: -48.67%
Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is -34.67%, showing a significant average annual decline in imports. The trend suggests a sharp decrease, likely influenced by the market's transition to more energy-efficient lighting technologies such as LED lamps.
Future trends to watch for: The market is evidently shifting towards more sustainable and cost-effective lighting solutions. Monitoring advancements in LED technology, regulatory changes promoting energy efficiency, and potential shifts in consumer preferences will be crucial for understanding the dynamic landscape of the lighting industry in Chile.
