India: Illuminated Sign Market 2024

Illuminated Sign Market Size in India

In 2021, after three years of decline, there was significant growth in the Indian illuminated sign market, when its value increased by 70% to $X. In general, consumption continues to indicate a pronounced increase. Illuminated sign consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Illuminated Sign Exports

Exports from India

In 2021, shipments abroad of illuminated signs and illuminated name-plates decreased by -11.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 257% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, illuminated sign exports reduced to $X in 2021. Overall, exports showed a noticeable setback. The growth pace was the most rapid in 2019 when exports increased by 259% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Sri Lanka (X tons), Tanzania (X tons) and Nepal (X tons) were the main destinations of illuminated sign exports from India, together accounting for 54% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +96.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for illuminated sign exported from India were Sri Lanka ($X), Tanzania ($X) and Nepal ($X), with a combined 58% share of total exports.

Sri Lanka, with a CAGR of +100.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 illuminated sign export price amounted to $X per ton, growing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2017 an increase of 19%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in years to come.

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 Kenya ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Illuminated Sign Imports

Imports into India

In 2021, after four years of decline, there was significant growth in overseas purchases of illuminated signs and illuminated name-plates, when their volume increased by 52% to X tons. In general, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 65%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, illuminated sign imports soared to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest illuminated sign supplier to India, accounting for a 71% share of total imports. Moreover, illuminated sign imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+67.8% per year) and Hong Kong SAR (+18.2% per year).

In value terms, China ($X) constituted the largest supplier of illuminated signs and illuminated name-plates to India, comprising 71% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by Hong Kong SAR, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+58.8% per year) and Hong Kong SAR (+17.7% per year).

Import Prices by Country

In 2021, the average illuminated sign import price amounted to $X per ton, reducing by -4.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 8.9%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and France ($X per ton), while the price for China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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