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 SWOT Analysis Chapter
The Electric Lighting Equipment Manufacturing industry has entered the decline stage of its life cycle, with industry participants losing both domestic and global market share. Industry value added, which measures the industry's contribution to the economy, is expected to increase by a compound annual rate of 1.3% over the 10 years through 2021-22. Meanwhile, the overall economy is also expected to grow at compound annual rate of 2.3% over the same period. This indicates that the industry will account for a declining share of the overall economy.
The number of enterprises operating in the industry is expected to decline over the five years through 2021-22, as some firms are forced out of business and others choose to transfer production overseas. Thi.. purchase to read more