Scandinavia: Market for Residential, Commercial and Industrial Lighting Fixture 2024

Market Size for Residential, Commercial and Industrial Lighting Fixture in Scandinavia

The Scandinavia market for residential, commercial and industrial lighting fixture skyrocketed to $X in 2021, growing by 26% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Residential, Commercial and Industrial Lighting Fixture in Scandinavia

In value terms, production of residential, commercial and industrial lighting fixture fell to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 40% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in Scandinavia

After two years of growth, shipments abroad of residential, commercial and industrial lighting fixture decreased by -10.4% to X units in 2021. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 26% against the previous year. The volume of export peaked at X units in 2020, and then contracted in the following year.

In value terms, exports of residential, commercial and industrial lighting fixture expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 19%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Sweden (X units), Denmark (X units) and Norway (X units), together recording 94% of total export. It was distantly followed by Finland (X units), generating a 6.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Denmark (with a CAGR of +4.6%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 90% of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of +9.9%, saw the highest rates of growth with regard to 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 export price in Scandinavia amounted to $X per unit, increasing by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.1%), while the other leaders experienced more modest paces of growth.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports in Scandinavia

Imports of residential, commercial and industrial lighting fixture expanded notably to X units in 2021, picking up by 11% compared with the previous year. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of residential, commercial and industrial lighting fixture soared to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of residential, commercial and industrial lighting fixture, namely Sweden, Denmark and Norway, represented more than two-thirds of total import. It was distantly followed by Finland (X units), constituting a 12% share of total imports. Iceland (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iceland (with a CAGR of +9.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest residential, commercial and industrial lighting fixture importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), together comprising 85% of total imports. These countries were followed by Finland and Iceland, which together accounted for a further 15%.

In terms of the main importing countries, Iceland, with a CAGR of +13.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, picking up by 9.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per unit) and Denmark ($X per unit), while Sweden ($X per unit) and Iceland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform