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

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

The Ecuadorian market for residential, commercial and industrial lighting fixture skyrocketed to $X in 2021, picking up by 30% 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 enjoyed a resilient expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from Ecuador

In 2021, overseas shipments of residential, commercial and industrial lighting fixture were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 252% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of residential, commercial and industrial lighting fixture surged to $X in 2021. Over the period under review, exports saw a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 264% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Peru (X units) was the main destination for exports of residential, commercial and industrial lighting fixture from Ecuador, accounting for a 57% share of total exports. Moreover, exports of residential, commercial and industrial lighting fixture to Peru exceeded the volume sent to the second major destination, the United States (X units), twofold. Norway (X units) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru amounted to +159.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.5% per year) and Norway (0.0% per year).

In value terms, Peru ($X), the United States ($X) and Norway ($X) appeared to be the largest markets for residential, commercial and industrial lighting fixture exported from Ecuador worldwide, together accounting for 81% of total exports.

In terms of the main countries of destination, Peru, with a CAGR of +143.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for residential, commercial and industrial lighting fixture stood at $X per unit in 2021, waning by -27.7% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for residential, commercial and industrial lighting fixture decreased by -29.8% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 115% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Peru ($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 the United States (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports into Ecuador

Imports of residential, commercial and industrial lighting fixture into Ecuador reached X units in 2021, with an increase of 15% on 2020. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 74%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of residential, commercial and industrial lighting fixture surged to $X in 2021. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 69%. Over the period under review, imports of attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main supplier of residential, commercial and industrial lighting fixture to Ecuador, accounting for a 94% share of total imports. Moreover, imports of residential, commercial and industrial lighting fixture from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.1% per year) and Hong Kong SAR (-32.1% per year).

In value terms, China ($X) constituted the largest supplier of residential, commercial and industrial lighting fixture to Ecuador, comprising 86% of total imports. The second position in the ranking was held by the United States ($X), with a 4.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.9% per year) and Hong Kong SAR (-27.4% per year).

Import Prices by Country

In 2021, the average import price for residential, commercial and industrial lighting fixture amounted to $X per unit, picking up by 18% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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