Singapore: Automotive Lighting Market 2024

Automotive Lighting Market Size in Singapore

The Singaporean automotive lighting market expanded to $X in 2021, with an increase of 3.9% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Automotive Lighting Production in Singapore

In value terms, automotive lighting production soared to $X in 2021 estimated in export price. Overall, production showed a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Automotive Lighting Exports

Exports from Singapore

In 2021, after eight years of decline, there was significant growth in overseas shipments of automotive lighting, when their volume increased by 397% to X units. Over the period under review, exports, however, recorded a deep reduction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, automotive lighting exports skyrocketed to $X in 2021. In general, exports, however, recorded a pronounced slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X units), India (X units) and Malaysia (X units) were the main destinations of automotive lighting exports from Singapore, together comprising 52% 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 India (with a CAGR of +14.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for automotive lighting exported from Singapore were Australia ($X), India ($X) and Malaysia ($X), with a combined 51% share of total exports.

India, with a CAGR of +19.0%, recorded the highest rates of growth with regard to 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 automotive lighting export price amounted to $X per unit, growing by 2.6% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, automotive lighting export price increased by +90.8% against 2014 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 48% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to India ($X per unit) and Vietnam ($X per unit), while the average price for exports to Israel ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Automotive Lighting Imports

Imports into Singapore

In 2021, supplies from abroad of automotive lighting increased by 86% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, saw a deep contraction. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, automotive lighting imports skyrocketed to $X in 2021. In general, imports, however, recorded a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Czech Republic (X units), Slovakia (X units) and Germany (X units) were the main suppliers of automotive lighting imports to Singapore, together comprising 42% of total imports. Japan, Austria, Mexico, the United States, Malaysia, Oman, China, Slovenia, Spain and the United Arab Emirates lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +87.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest automotive lighting suppliers to Singapore were the Czech Republic ($X), Slovakia ($X) and Germany ($X), with a combined 42% share of total imports. These countries were followed by Japan, Austria, Mexico, the United States, Malaysia, China, Slovenia, Spain, the United Arab Emirates and Oman, which together accounted for a further 43%.

Among the main suppliers, Oman, with a CAGR of +60.9%, saw the highest rates of growth with regard to 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 average automotive lighting import price amounted to $X per unit, shrinking by -7.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 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 the United Arab Emirates ($X per unit), while the price for Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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