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

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

In 2021, the Bangladeshi market for residential, commercial and industrial lighting fixture was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from Bangladesh

In 2021, exports of residential, commercial and industrial lighting fixture from Bangladesh skyrocketed to X units, increasing by 17% compared with 2020. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 265% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, exports of residential, commercial and industrial lighting fixture surged to $X in 2021. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 193%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for exports of residential, commercial and industrial lighting fixture from Bangladesh, with a 63% share of total exports. Moreover, exports of residential, commercial and industrial lighting fixture to the United States exceeded the volume sent to the second major destination, Spain (X units), tenfold. Malaysia (X units) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +56.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+105.9% per year) and Malaysia (+15.7% per year).

In value terms, the United States ($X) remains the key foreign market for residential, commercial and industrial lighting fixture exports from Bangladesh, comprising 75% of total exports. The second position in the ranking was held by Australia ($X), with a 4.3% share of total exports. It was followed by Poland, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+18.8% per year) and Poland (+87.9% per year).

Export Prices by Country

The average export price for residential, commercial and industrial lighting fixture stood at $X per unit in 2021, increasing by 4.2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 33% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports into Bangladesh

In 2021, overseas purchases of residential, commercial and industrial lighting fixture increased by 96% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,561% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of residential, commercial and industrial lighting fixture soared to $X in 2021. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 2,575% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of residential, commercial and industrial lighting fixture to Bangladesh, accounting for a 173% share of total imports. It was followed by Hong Kong SAR (X units), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +17.9%.

In value terms, China ($X) constituted the largest supplier of residential, commercial and industrial lighting fixture to Bangladesh, comprising 80% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +21.2%.

Import Prices by Country

In 2021, the average import price for residential, commercial and industrial lighting fixture amounted to $X per unit, increasing by 3.6% against the previous year. Overall, the import price continues to indicate a resilient increase. The growth pace was the most rapid in 2016 when the average import price increased by 118%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.2%).

Source: IndexBox Platform

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