The forecasted sold production of electric lighting equipment in the UK shows a declining trend from 2024 to 2028. Starting at €1.0971 billion in 2024, the value decreases steadily to €0.96762 billion by 2028. When considering year-on-year variation, the decrease is gradual yet consistent, signaling an average annual decline of approximately 3% throughout this period.
Compared to 2023, where the actual value stood at €1.150 billion, the landscape suggests that 2024 marked the beginning of this downward trend. The Compound Annual Growth Rate (CAGR) over the five years from 2023 to 2028 is negative, reflected by a consistent annual reduction in market value.
Future trends to watch for include shifts in technological advancements in smart lighting, fluctuations in raw material prices, and potential regulatory impacts on energy efficiency standards. These factors may either exacerbate or mitigate the anticipated decline.
