The Manufacture of Electric Lighting Equipment sector in Finland has demonstrated significant fluctuations over the analyzed period. From 2013 to 2018, the industry experienced steady growth, peaking at 365.9 million euros. However, notable declines occurred in 2019 and 2020, with production falling to 305.5 million and 244.6 million euros, respectively. The market rebounded strongly in 2021 and continued an upward trend through 2023, reaching 390.4 million euros. Predictions for 2024 to 2028 indicate ongoing growth, with forecasted values approaching 452.4 million euros in 2028.
Over the past two years, the sector's year-on-year growth rates were 10.34% and 7.61%, while the calculated CAGR over the last five years stood at 1.3%. The forecasted five-year CAGR is expected to be 2.34%, projecting an overall growth rate of 12.29% by 2028.
Future trends to watch for include advancements in energy-efficient technologies, increasing adoption of smart lighting solutions, and potential impacts of regulatory changes aimed at boosting sustainability and reducing energy consumption.
