Export of electric lamps and lighting fittings from Mexico has experienced significant volatility over the past decade, with notable growth periods and periods of decline. The value stood at 693.66 million USD in 2023. Noteworthy year-on-year increases were observed from 2020 to 2021 (24.53%) and from 2021 to 2022 (3.19%). However, there was a substantial decline from 2019 to 2020 (-14.05%). The latest compound annual growth rate (CAGR) for the last five years is indicated at 3.91%
Forecasted values show a consistent upward trend, with a forecasted 5-year CAGR of 2.25% leading to an estimated value of 800.16 million USD by 2028. The projected growth of 11.75% over this period highlights a positive outlook.
Future trends to watch for:
- Global economic conditions and how they affect production costs and export demand.
- Technological advancements and innovations in energy efficiency and smart lighting.
- Trade policies and potential changes in international trade agreements.
- Sustainability practices and their impact on the production and export of eco-friendly lighting solutions.
