The United Kingdom lighting equipment market is suggested to have reached a value of around £2.12 billion by the end of 2012, and is forecast to reach a total of £2.43 billion by 2016. In 2009, the UK market for lighting equipment declined by a reported 20% reflecting the combined effects of the recession on consumer spending, the construction industry and the difficulties of the automotive OEM sector. However, there was strong growth achieved in 2010 largely as a reflection of the automotive OEM sector but also reflecting some improvement in activity in the other sectors as confidence that the recession had ended surfaced.
Nonetheless, the market moved to decline in 2011 despite the continued development of the automotive demand, but reflecting the elongated turmoil of the UK economy and its effects on the construction industry in particular. In 2012, only marginal growth was achieved, and this was almost entirely a result of the strong performance of the automotive OEM sector.
The UK lighting market is expected to continue to face difficult trading conditions with the UK economy only slowly easing out of the recession, which will have a continued effect on the construction industry. Far more positive signs exist for the automotive OEM sector which has strongly developed export markets in rapid growth areas. Alongside these developments, consumer spending is likely to remain under pressure in discretionary areas such as furniture with the continued difficulties of gaining credit, and consequent low house moving activity combining with continued concerns over employment security. Nonetheless the economic conditions can be expected to ease slowly and create a more positive framework for the lighting industry.For more information on the United Kingdom lighting equipment market, please click here: United Kingdom lighting equipment market
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