The Electric Lighting Equipment Manufacturing Revenue in Canada showed dynamic growth from 2013 to 2017, with a significant peak in 2016 and 2017. However, starting in 2018, a steady decline began, with 2023 recording a value of CAD 1309.9 million. From 2023 onward, projections indicate a continuous downward trajectory through 2028. Year-on-year variations highlight the progression from growth to decline, while the five-year CAGR shows an average annual decline of -3.29% leading up to 2023.

Future trends to watch for:

Increased competition from low-cost manufacturing regions.
Potential changes in regulations and sustainability standards in the industry.
Technological advancements and innovations in lighting technologies, including smart lighting solutions and LED advancements.
Shifts in consumer preferences towards more energy-efficient and eco-friendly lighting products.