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

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

In 2021, the Asian market for residential, commercial and industrial lighting fixture decreased by -7.3% to $X, falling for the third consecutive year after two years of growth. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Residential, Commercial and Industrial Lighting Fixture in Asia

In value terms, production of residential, commercial and industrial lighting fixture stood at $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.8% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in Asia

After two years of decline, shipments abroad of residential, commercial and industrial lighting fixture increased by 21% to X units in 2021. Over the period under review, exports saw a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by 102%. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, exports of residential, commercial and industrial lighting fixture surged to $X in 2021. In general, exports posted a strong expansion. The growth pace was the most rapid in 2013 with an increase of 75% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of residential, commercial and industrial lighting fixture, namely China, represented more than two-thirds 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. While the share of China (+5.9 p.p.) increased significantly, 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.

In China, exports of residential, commercial and industrial lighting fixture expanded at an average annual rate of +19.6% over the period from 2012-2021.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, picking up by 9.2% against the previous year. Over the period under review, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 148%. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

In 2021, after three years of decline, there was significant growth in supplies from abroad of residential, commercial and industrial lighting fixture, when their volume increased by 15% to X units. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 31%. Over the period under review, imports of reached the maximum 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, imports of reached the maximum at $X in 2014; afterwards, it flattened through to 2021.

Imports by Country

The purchases of the twelve major importers of residential, commercial and industrial lighting fixture, namely South Korea, Japan, the United Arab Emirates, Qatar, Thailand, Iraq, Malaysia, Kazakhstan, Taiwan (Chinese), Israel, Hong Kong SAR and Indonesia, represented more than two-thirds of total import. Turkey (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +23.2%), while purchases 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 were Japan ($X), the United Arab Emirates ($X) and South Korea ($X), with a combined 37% share of total imports. Israel, Iraq, Thailand, Kazakhstan, Taiwan (Chinese), Turkey, Hong Kong SAR, Qatar, Malaysia and Indonesia lagged somewhat behind, together comprising a further 32%.

Iraq, with a CAGR of +26.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, rising by 7.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 11%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per unit), while Malaysia ($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 United Arab Emirates (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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