Luxembourg: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Luxembourg

The Luxembourg market for solar cells and light-emitting diodes reduced to $X in 2022, dropping by -7.2% 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). Overall, consumption, however, continues to indicate temperate growth. Solar cells and light-emitting diodes consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Luxembourg

In 2016, solar cells and light-emitting diodes exports from Luxembourg stood at X units, remaining relatively unchanged against the year before. Over the period under review, exports showed a abrupt descent. The smallest decline of -37.2% was in 2014. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2016, the exports failed to regain momentum.

In value terms, solar cells and light-emitting diodes exports amounted to $X in 2016. In general, exports recorded a deep setback. The smallest decline of -38.8% was in 2014. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2016, the exports remained at a lower figure.

Exports by Country

Belgium (X units) was the main destination for solar cells and light-emitting diodes exports from Luxembourg, with a 64% share of total exports. Moreover, solar cells and light-emitting diodes exports to Belgium exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. Ireland (X units) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2016, the average annual rate of growth in terms of volume to Belgium amounted to -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+170.3% per year) and Ireland (0.0% per year).

In value terms, the largest markets for solar cells and light-emitting diodes exported from Luxembourg were Belgium ($X), the Netherlands ($X) and Ireland ($X), together comprising 93% of total exports.

The Netherlands, with a CAGR of +130.8%, saw 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 export price for solar cells and light-emitting diodes stood at $X per unit in 2016, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a deep slump. The pace of growth was the most pronounced in 2014 a decrease of -2.6%. The export price peaked at $X per unit in 2012; however, from 2013 to 2016, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2016, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Ireland ($X per unit) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to France (+9.5%), while the prices for the other major destinations experienced a decline.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Luxembourg

In 2022, the amount of solar cells and light-emitting diodes imported into Luxembourg contracted to X units, waning by -9.4% compared with the previous year's figure. Over the period under review, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 when imports increased by 151% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, solar cells and light-emitting diodes imports declined slightly to $X in 2022. Overall, imports showed a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 99% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest solar cells and light-emitting diodes supplier to Luxembourg, with a 67% share of total imports. Moreover, solar cells and light-emitting diodes imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), ninefold. The third position in this ranking was taken by Germany (X units), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.8% per year) and Germany (-21.9% per year).

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to Luxembourg, comprising 73% of total imports. The second position in the ranking was held by Germany ($X), with a 7.8% share of total imports. It was followed by South Korea, with a 4.6% 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: Germany (-21.4% per year) and South Korea (-1.0% per year).

Import Prices by Country

In 2021, the average import price for solar cells and light-emitting diodes amounted to $X per unit, dropping by -11.1% against the previous year. In general, the import price recorded a perceptible setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 15% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 France ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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