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

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

After four years of growth, the East Asian market for residential, commercial and industrial lighting fixture decreased by -15.5% to $X in 2021. The market value increased at an average annual rate of +1.8% 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 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Residential, Commercial and Industrial Lighting Fixture in Eastern Asia

In value terms, production of residential, commercial and industrial lighting fixture contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 19% against the previous year. Over the period under review, production of hit record highs at $X in 2020, and then contracted modestly in the following year.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in Eastern Asia

In 2021, shipments abroad of residential, commercial and industrial lighting fixture was finally on the rise to reach X units after two years of decline. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 112%. 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. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 83%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from China (X units), together resulting at 99% 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. From 2012 to 2021, the share of China increased by +1.8 percentage points, 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 Eastern Asia.

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

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, increasing by 9.8% against the previous year. In general, the export price saw a resilient increase. The pace of growth was the most pronounced in 2014 when the export price increased by 161% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat 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 Eastern Asia

In 2021, the amount of residential, commercial and industrial lighting fixture imported in Eastern Asia expanded remarkably to X units, picking up by 13% on the year before. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 15% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to continue growth in the immediate term.

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 +6.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 33% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

South Korea (X units) and Japan (X units) represented roughly 72% of total imports in 2021. Taiwan (Chinese) (X units) took the next position in the ranking, followed by Hong Kong SAR (X units). All these countries together held approx. 24% share of total imports. The following importers - Macao SAR (X units) and China (X units) - each recorded a 3.7% share of total imports.

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 Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 84% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +24.6%, recorded 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

The import price in Eastern Asia stood at $X per unit in 2021, picking up by 2.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2019 an increase of 17% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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