The dataset for electric lighting equipment wages and salaries in Belgium shows an overall declining trend from 2013 to 2028. Actual values decreased significantly from €134.9 million in 2013 to €72 million in 2023. The period from 2013 to 2023 shows considerable volatility, with annual variations ranging from a high of +20.06% in 2015 to a steep decline of -28.05% in 2016. Over these ten years, there is a notable decrease with a compound annual growth rate (CAGR) mainly around the mid-single-digit negative range.
For the last two years, the values dropped from €85.2 million in 2020 to €72.0 million in 2023, marking a -8.51% year-on-year variation in 2023, and the last five years average CAGR is -6.06%. Forecasted data show a continuing decline, reaching €39.1 million by 2028, a further -40.21% reduction from 2023, with a forecasted five-year CAGR of -9.78%.
Future trends to watch for include potential industry transformations driven by technological advancements, increased automation, and possible shifts in industry regulations. Additionally, any changes in energy efficiency directives or government incentives might impact the financial landscape of the electric lighting equipment sector.
