The import of parts of electric filament or discharge lamps to China is forecasted to decline from 2024 to 2028. Starting at $108.45 million in 2024, it projects a year-on-year decrease of approximately 2.73% by 2025, 2.75% by 2026, 2.76% by 2027, and 2.79% by 2028, reaching $96.97 million.
Notably, the compound annual growth rate (CAGR) from 2024 to 2028 shows a consistent negative trend, indicating a steady decline in imports over this period.
Future trends to watch include:
- Technological advancements in local manufacturing, which may further reduce import reliance.
- Shifts in global trade policies or tariffs, influencing import costs and strategies.
- Escalation in domestic demand for sustainable and energy-efficient lighting solutions, potentially impacting market dynamics.
