Hong Kong SAR, China: Non-Electrical Lamp Market 2024

Non-Electrical Lamp Market Size in Hong Kong SAR, China

In 2021, the Hong Kong non-electrical lamp market decreased by -25.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Non-Electrical Lamp Production in Hong Kong SAR, China

In value terms, non-electrical lamp production stood at $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.1% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 49%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Non-Electrical Lamp Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of non-electrical lamps and lighting fittings were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt slump. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-electrical lamp exports soared to $X in 2021. Overall, exports, however, faced a abrupt descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Sweden (X units) and the United States (X units) were the main destinations of non-electrical lamp exports from Hong Kong SAR, together comprising 68% of total exports. These countries were followed by Vietnam, Japan, the UK, Australia and Denmark, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of -0.2%), while the other leaders experienced a decline.

In value terms, Germany ($X), Sweden ($X) and Japan ($X) constituted the largest markets for non-electrical lamp exported from Hong Kong SAR worldwide, together accounting for 68% of total exports.

Japan, with a CAGR of +12.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-electrical lamp export price stood at $X per unit in 2021, growing by 13% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 26%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Vietnam ($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 Vietnam (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electrical Lamp Imports

Imports into Hong Kong SAR, China

In 2021, imports of non-electrical lamps and lighting fittings into Hong Kong SAR contracted markedly to X units, dropping by -75.3% against the previous year's figure. Over the period under review, imports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 28% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, non-electrical lamp imports shrank remarkably to $X in 2021. In general, imports faced a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 48%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-electrical lamp to Hong Kong SAR, accounting for a 84% share of total imports. Moreover, non-electrical lamp imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), more than tenfold. Indonesia (X units) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+48.2% per year) and Indonesia (+58.2% per year).

In value terms, China ($X) constituted the largest supplier of non-electrical lamps and lighting fittings to Hong Kong SAR, comprising 55% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 5.9% share of total imports. It was followed by Indonesia, with a 3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+42.3% per year) and Indonesia (+70.9% per year).

Import Prices by Country

In 2021, the average non-electrical lamp import price amounted to $X per unit, with an increase of 49% against the previous year. Over the period under review, the import price continues to indicate a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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