India: Chandelier Market 2024

Chandelier Market Size in India

In 2022, the Indian chandelier market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a noticeable setback. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Chandelier Exports

Exports from India

In 2022, shipments abroad of chandeliers decreased by -6.7% to X units for the first time since 2011, thus ending a ten-year rising trend. Overall, exports, however, showed notable growth. The pace of growth appeared the most rapid in 2021 when exports increased by 16%. As a result, the exports attained the peak of X units, and then fell in the following year.

In value terms, chandelier exports shrank modestly to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 56%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

The United States (X units) was the main destination for chandelier exports from India, with a 235% share of total exports. Moreover, chandelier exports to the United States exceeded the volume sent to the second major destination, France (X units), threefold. Germany (X units) ranked third in terms of total exports with a 90% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+11.3% per year) and Germany (-8.3% per year).

In value terms, the United States ($X) remains the key foreign market for chandeliers exports from India, comprising 25% of total exports. The second position in the ranking was held by France ($X), with a 9.5% share of total exports. It was followed by Germany, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.8% per year) and Germany (-10.4% per year).

Export Prices by Country

The average chandelier export price stood at $X per unit in 2022, rising by 5.8% against the previous year. Overall, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.0%), while the prices for the other major destinations experienced a decline.

Chandelier Imports

Imports into India

In 2022, overseas purchases of chandeliers were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2015 with an increase of 170%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, chandelier imports surged to $X in 2022. Over the period under review, imports, however, recorded a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 106%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest chandelier supplier to India, accounting for a 41% share of total imports. Moreover, chandelier imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fivefold. Italy (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+14.2% per year) and Italy (-5.6% per year).

In value terms, China ($X) constituted the largest supplier of chandeliers to India, comprising 62% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 6.7% share of total imports. It was followed by Italy, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+8.6% per year) and Italy (-3.5% per year).

Import Prices by Country

In 2022, the average chandelier import price amounted to $X per unit, with a decrease of -6.3% against the previous year. In general, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 113%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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