Belgium: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in Belgium

The Belgian market for solar cells and light-emitting diodes skyrocketed to $X in 2022, with an increase of 51% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a perceptible descent. Solar cells and light-emitting diodes consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Belgium

In 2022, after five years of growth, there was significant decline in overseas shipments of solar cells and light-emitting diodes, when their volume decreased by -32.7% to X units. Over the period under review, exports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 190%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports fell sharply to $X in 2022. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 95%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for solar cells and light-emitting diodes exports from Belgium, with a 60% share of total exports. Moreover, solar cells and light-emitting diodes exports to the Netherlands exceeded the volume sent to the second major destination, France (X units), threefold. The third position in this ranking was held by Luxembourg (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.4% per year) and Luxembourg (+11.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for solar cells and light-emitting diodes exports from Belgium, comprising 41% of total exports. The second position in the ranking was held by France ($X), with an 11% share of total exports. It was followed by Luxembourg, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-10.8% per year) and Luxembourg (+13.2% per year).

Export Prices by Country

In 2022, the average export price for solar cells and light-emitting diodes amounted to $X per unit, with an increase of 12% against the previous year. Over the period under review, the export price, however, saw a noticeable descent. The growth pace was the most rapid in 2015 an increase of 23%. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Belgium

In 2022, purchases abroad of solar cells and light-emitting diodes decreased by -10.4% to X units for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 61% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, solar cells and light-emitting diodes imports dropped to $X in 2022. Overall, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 46% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of solar cells and light-emitting diodes imports to Belgium, together comprising 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +6.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), the Netherlands ($X) and Germany ($X) were the largest solar cells and light-emitting diodes suppliers to Belgium, with a combined 81% share of total imports. France and Luxembourg lagged somewhat behind, together comprising a further 7.4%.

In terms of the main suppliers, France, with a CAGR of -4.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for solar cells and light-emitting diodes stood at $X per unit in 2022, rising by 2% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The pace of growth was the most pronounced in 2015 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :