Industry Analysis & Industry Trends
The domestic market for electric lighting is expected to be worth £3.4 billion in 2016-17, of which 63.1% will be satisfied by imports, while exports are forecast to account for 38.8% of revenue. Industry revenue is expected to increase at a compound annual rate of 1.3% over the five years through 2016-17 to £2 billion, fuelled by the growth in exports. Rebounding business and consumer confidence levels stimulated demand as businesses and households increased spending on lighting products. Construction activity also expanded and boosted revenue. However, manufacturing activity remained weak and restricted growth, as many manufacturing firms require lights as inputs in their products, while higher levels of import penetration also negatively affected the industry... purchase to read more
Industry Report - Industry Analysis Chapter
Construction activity and lighting technology developments are fundamental drivers of growth in the lighting market. Industry revenue is expected to increase at a compound annual rate of 1.3% over the five years through 2016-17 to £2 billion, fuelled by growth in exports. Construction activity also rebounded during the past five years and contributed positively, while improving business and consumer confidence levels enhanced domestic demand. However, the benefits to the industry were restricted because imports captured a greater share of the domestic market. Additionally, manufacturing activity remained relatively stagnant during the past five years and constrained industry expansion.
Revenue growth is expected to dampen during the current year to 0.9%. Eco.. purchase to read more