Eastern Asia: Market for Special-Purpose Electric Lamps and Lighting Fittings 2024

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Eastern Asia

The East Asian market for special-purpose electric lamps and lighting fittings surged to $X in 2022, jumping by 25% against the previous year. Over the period under review, consumption showed a perceptible increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Special-Purpose Electric Lamps and Lighting Fittings in Eastern Asia

In value terms, production of special-purpose electric lamps and lighting fittings rose modestly to $X in 2022 estimated in export price. Over the period under review, production showed buoyant growth. The growth pace was the most rapid in 2014 when the production volume increased by 29%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports in Eastern Asia

After five years of growth, overseas shipments of special-purpose electric lamps and lighting fittings decreased by -8% to X units in 2022. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 158% against the previous year. The volume of export peaked at X units in 2021, and then fell in the following year.

In value terms, exports of special-purpose electric lamps and lighting fittings skyrocketed to $X in 2022. Overall, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 53% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of special-purpose electric lamps and lighting fittings, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the special-purpose electric lamps and lighting fittings exports, with a CAGR of +13.5% from 2012 to 2022. 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 special-purpose electric lamp and lighting fitting supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled +16.1%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, jumping by 27% against the previous year. Over the period under review, the export price continues to indicate a mild expansion. The growth pace was the most rapid in 2016 when the export price increased by 130% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, 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 2022, the rate of growth in terms of prices for China amounted to +2.3% per year.

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports in Eastern Asia

After two years of growth, overseas purchases of special-purpose electric lamps and lighting fittings decreased by -7% to X units in 2022. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.9% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 26%. Over the period under review, imports of hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of special-purpose electric lamps and lighting fittings declined to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 25%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

The purchases of the three major importers of special-purpose electric lamps and lighting fittings, namely South Korea, Hong Kong SAR and Japan, represented more than two-thirds of total import. Taiwan (Chinese) (X units) held the next position in the ranking, followed by China (X units). All these countries together took approx. 12% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined 79% share of total imports.

South Korea, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in Eastern Asia amounted to $X per unit, approximately reflecting the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 29%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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