Over the past decade, the Electric Lamp Bulb and Parts Manufacturing expenses in Canada have shown significant fluctuations. Between 2013 and 2016, there were marked variations with the expenses peaking in 2015 at 94.06 million CAD, followed by a decline in the subsequent year. From 2018 onwards, the values stabilized, demonstrating a modest increase, with the value standing at 70.39 million CAD in 2023 after consistent year-on-year slight increments since 2019. Specifically, the analysis reveals minor annual increases of around 0.25% over the last two years and a 0.78% CAGR over the last five years. Looking forward, forecasted data up to 2028 shows a continued gradual rise with a 5-year CAGR of 0.19% and a total growth rate of 0.95%.
Future trends to watch for in the Electric Lamp Bulb and Parts Manufacturing sector include potential advancements in energy-efficient technologies, shifts in consumer preferences towards smart lighting solutions, and impacts of any new regulations on manufacturing standards. Additionally, the rising adoption of LED technology and broader economic factors could influence the industry's expense landscape.
