The import of Non-Electrical Lamps and Lighting Fittings to Turkey is forecasted to decline over the next five years starting from 2024. The value of imports in 2023 stood at 10 million US Dollars. In 2024, it is expected to be 9.889 million US Dollars, showing a slight decrease. This downward trend continues with values of 9.6388 million US Dollars in 2025, 9.3937 million US Dollars in 2026, 9.1535 million US Dollars in 2027, and 8.9181 million US Dollars in 2028.
Year-on-Year (YoY) variation percentages for the forecasted period are as follows:
- 2024: -1.11%
- 2025: -2.53%
- 2026: -2.54%
- 2027: -2.56%
- 2028: -2.57%
The Compound Annual Growth Rate (CAGR) over the next five years shows an average annual decrease of approximately 2.26%.
Future trends to watch for:
Given the downward trend in imports, factors such as local manufacturing advancements, changes in consumer preferences towards modern or multifunctional lighting solutions, and potential policy changes on imports should be closely monitored. Additionally, advancements in sustainable and energy-efficient lighting technology may impact future import volumes and values.
