The electric lighting equipment sector in Spain showed notable growth from 2013 to 2018, with employment peaking at 11.57 thousand employees in 2018. However, a declining trend emerged post-2018, with employment decreasing consistently year-on-year. In 2023, the sector employed 9.61 thousand individuals, reflecting a significant reduction from its peak. Future forecasts indicate a continued decline in employment, with an estimated 9.09 thousand employees by 2028. The compound annual growth rate (CAGR) over the past five years is -3.63%, while the forecasted 5-year CAGR shows a decline of -0.9%.
Future Trends to Watch:
• Technological advancements and automation may reduce employment further.
• The increasing focus on sustainable and energy-efficient lighting could create new opportunities.
• The economic recovery post-pandemic might influence employment stability or growth in the sector.
