Asia-Pacific: Market for Residential, Commercial and Industrial Lighting Fixture 2024

Market Size for Residential, Commercial and Industrial Lighting Fixture in Asia-Pacific

In 2021, the Asia-Pacific market for residential, commercial and industrial lighting fixture decreased by -8% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Residential, Commercial and Industrial Lighting Fixture in Asia-Pacific

In value terms, production of residential, commercial and industrial lighting fixture contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 14%. The level of production peaked at $X in 2020, and then contracted in the following year.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in Asia-Pacific

After two years of decline, overseas shipments of residential, commercial and industrial lighting fixture increased by 21% to X units in 2021. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 105%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, exports of residential, commercial and industrial lighting fixture surged to $X in 2021. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 77%. Over the period under review, the exports of attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The biggest shipments were from China (X units), together accounting for 97% of total export.

China was also the fastest-growing in terms of the residential, commercial and industrial lighting fixture exports, with a CAGR of +8.4% from 2012 to 2021. China (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest residential, commercial and industrial lighting fixture supplier in Asia-Pacific.

From 2012 to 2021, the average annual growth rate of value in China amounted to +19.6%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, rising by 9.2% against the previous year. Overall, the export price recorded strong growth. The growth pace was the most rapid in 2014 an increase of 153%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +10.3% per year.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports in Asia-Pacific

In 2021, overseas purchases of residential, commercial and industrial lighting fixture were finally on the rise to reach X units after three years of decline. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of residential, commercial and industrial lighting fixture surged to $X in 2021. The total import value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of residential, commercial and industrial lighting fixture in 2021 were South Korea (X units), Australia (X units) and Japan (X units), together resulting at 48% of total import. Thailand (X units) held an 8.5% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.2%), Taiwan (Chinese) (6.1%) and Hong Kong SAR (4.6%). Indonesia (X units), New Zealand (X units), Vietnam (X units), the Philippines (X units), Singapore (X units) and Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest residential, commercial and industrial lighting fixture importing markets in Asia-Pacific were Australia ($X), Japan ($X) and South Korea ($X), with a combined 57% share of total imports.

Among the main importing countries, South Korea, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, surging by 6.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2019 an increase of 31% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+20.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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