Republic of Korea: Market for Special-Purpose Electric Lamps and Lighting Fittings 2025

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Republic of Korea

In 2022, after two years of growth, there was significant decline in the South Korean market for special-purpose electric lamps and lighting fittings, when its value decreased by -5.8% to $X. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.6% against 2019 indices. Consumption of peaked at $X in 2021, and then dropped in the following year.

Production of Special-Purpose Electric Lamps and Lighting Fittings in Republic of Korea

In value terms, production of special-purpose electric lamps and lighting fittings totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 50% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports from Republic of Korea

In 2022, after three years of decline, there was significant growth in shipments abroad of special-purpose electric lamps and lighting fittings, when their volume increased by 11% to X units. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2014 with an increase of 16%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of special-purpose electric lamps and lighting fittings expanded to $X in 2022. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 10% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Japan (X units), the United States (X units) and Russia (X units) were the main destinations of exports of special-purpose electric lamps and lighting fittings from South Korea, with a combined 36% share of total exports. Brazil, China, Australia, India, the United Arab Emirates, Iraq, Mexico, Indonesia, Vietnam and Saudi Arabia lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +19.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for special-purpose electric lamp and lighting fitting exported from South Korea were Japan ($X), the United States ($X) and China ($X), with a combined 41% share of total exports. Russia, Brazil, India, Mexico, Vietnam, Indonesia, Australia, the United Arab Emirates, Iraq and Saudi Arabia lagged somewhat behind, together accounting for a further 36%.

Iraq, with a CAGR of +29.4%, 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

The average export price for special-purpose electric lamps and lighting fittings stood at $X per unit in 2022, declining by -7.4% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Iraq ($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 Iraq (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports into Republic of Korea

In 2022, supplies from abroad of special-purpose electric lamps and lighting fittings decreased by -6.5% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 66%. Imports peaked at X units in 2021, and then declined in the following year.

In value terms, imports of special-purpose electric lamps and lighting fittings reduced to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 53%. Over the period under review, imports of reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of special-purpose electric lamp and lighting fitting to South Korea, accounting for a 91% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 1.8% share of total imports. The third position in this ranking was taken by Vietnam (X units), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+43.4% per year) and Vietnam (+110.0% per year).

In value terms, China ($X) constituted the largest supplier of special-purpose electric lamps and lighting fittings to South Korea, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by the United States, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.6% per year) and the United States (+10.0% per year).

Import Prices by Country

The average import price for special-purpose electric lamps and lighting fittings stood at $X per unit in 2022, dropping by -3.3% against the previous year. In general, the import price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of 8%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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