Hong Kong SAR, China: Market for Residential, Commercial and Industrial Lighting Fixture 2024

Market Size for Residential, Commercial and Industrial Lighting Fixture in Hong Kong SAR, China

The Hong Kong market for residential, commercial and industrial lighting fixture declined notably to $X in 2021, which is down by -15.2% against the previous year. In general, consumption saw a abrupt contraction. Consumption of peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Residential, Commercial and Industrial Lighting Fixture in Hong Kong SAR, China

In value terms, production of residential, commercial and industrial lighting fixture surged to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 85% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from Hong Kong SAR, China

In 2021, after three years of decline, there was growth in shipments abroad of residential, commercial and industrial lighting fixture, when their volume increased by 4.3% to X units. Over the period under review, exports, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2015 with an increase of 16%. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of residential, commercial and industrial lighting fixture soared to $X in 2021. Overall, exports, however, saw a slight reduction. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Japan (X units) and Germany (X units) were the main destinations of exports of residential, commercial and industrial lighting fixture from Hong Kong SAR, with a combined 30% share of total exports. These countries were followed by Taiwan (Chinese), Canada, China, the Netherlands, the Philippines, the UK, Macao SAR, Italy and France, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +12.3%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for residential, commercial and industrial lighting fixture exported from Hong Kong SAR were the United States ($X), Japan ($X) and China ($X), together comprising 26% of total exports. These countries were followed by Germany, the Netherlands, Taiwan (Chinese), Macao SAR, Italy, France, the UK, the Philippines and Canada, which together accounted for a further 18%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +12.6%, recorded the highest growth rate of 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

In 2021, the average export price for residential, commercial and industrial lighting fixture amounted to $X per unit, surging by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Canada ($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 Philippines (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of residential, commercial and industrial lighting fixture decreased by -4.1% to X units, falling for the eighth consecutive year after two years of growth. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 19%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of residential, commercial and industrial lighting fixture reached $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 19%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of residential, commercial and industrial lighting fixture to Hong Kong SAR, accounting for a approx. 92% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -7.7%.

In value terms, China ($X) constituted the largest supplier of residential, commercial and industrial lighting fixture to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -2.2%.

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 17% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for residential, commercial and industrial lighting fixture increased by +87.7% against 2013 indices. The growth pace was the most rapid in 2016 an increase of 20%. The import price peaked in 2021 and is expected to retain growth in years to come.

As there is only one major supplying country, 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 +6.0% per year.

Source: IndexBox Platform

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