U.S. Residential Electric Lighting Fixture Market: A Moderate Expansion Powered by Robust Construction Growth

IndexBox has just published a new report "U.S. Residential Electric Lighting Fixture Market. Analysis And Forecast to 2025". Here is a summary of the report's key findings

The U.S. Residential Electric Lighting Fixture Market Has Now Reached Its Peak

In 2017, the U.S. residential electric lighting fixture market totalled $X in wholesale prices, a growth of $X (or X%) against the previous year figure. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period from 2010 to 2015, the market value recovered after suffering a X% slump from 2008-2009, against improved U.S. economic performance. This, in turn, spurred the expansion of residential construction. After exceeding the pre-crisis figure in 2015, the market plunged once again, reflecting the weaker period of economic growth observed in 2016. By 2017, the market had started to experience renewed growth; this lead the market to its peak figure over the last nine year period. As a result, the residential electric lighting fixture market exceeded the outset figure by X% in 2017.

The Market Is Projected to Reach $X

Residential electric lighting fixtures are used in housing premises. As a rule, new housing construction projects or the repair of existing housing stock can explain the main reasons for their procurement. The performance of the residential construction sector, therefore, determines the fundamental forces governing the residential electric lighting fixture market.

From 2015-2016, the residential electric lighting fixture market increased at a robust pace, due to the propitious housing market. The housing market in the United States is predicted to remain strong. An approximate +X% increase in the national median existing-home price this year is projected by the National Association of Realtors. Furthermore, an approximately +X% growth in sales is expected this year, amounting to X million and a further +X% growth to X million in 2018. The increasing number of house sales was mainly due to increasing employment, as well as low mortgage interest rates.

Driven by the current economic recovery in the U.S., the construction and household sector as a whole is expected to continue an upward consumption trend over the next eight years. Strong employment growth is one of the main drivers that may lead to new income growth, providing a solid base for consumer spending. Another motive is easy credit availability, which creates big-ticket spending for end-use products, residential housing that in turn will influence the growth in demand for residential electric lighting fixture.

Market performance is forecast to grow with an anticipated CAGR of +X% from 2017 to 2025, which is projected to lead the market volume to $X by the end of 2025.

Production Still Lags Behind Pre-Crisis Figures

U.S. residential electric lighting fixture manufacturing stood at $X in 2017. The production value demonstrated a downward trend from 2008-2013; it then recovered over the next two years, levelling off through to 2017. Residential electric lighting fixture production still remained $X (or X%) less than the outset level and does not currently indicate any potential for recovery.

The Production Structure Is Dominated by Non Portable Residential-Type Electric Lighting Fixtures

The residential electric lighting fixture category is an aggregate category. In this report, the total value of production is divided into categories: residential-type electric lighting fixtures (excluding portable), including parts and accessories and residential-type portable lighting fixtures, including parts and accessories.

Residential-type electric lighting fixtures (excluding portable), including parts and accessories accounted for the highest share (X% in 2017) of U.S residential electric lighting fixture manufacturing, followed by residential-type portable lighting fixtures, including parts and accessories (X%). The share of both of these categories increased, while residential electric lighting fixture manufacturing, nsk saw its share reduced.

Approx. X% of the Market Was Buoyed by Imports from China

The share of imports in U.S. residential electric lighting fixture consumption stood at X% in 2017. Due to a high trade intensity, imports should be regarded as a strong factor influencing U.S. market dynamics in the medium term. Moreover, the U.S.'s main trading partner is China, and Chinese products assumed a X% share of the residential electric lighting fixture market in the U.S.

Exports of Residential Electric Lighting Fixtures from the U.S. Declined Sharply

From 2007 to 2017, official statistics do not indicate any export supplies of residential electric lighting fixtures from the U.S. Therefore, the value of exports was estimated based on the figures of the general category of electric lighting products. According to this estimation, the value of exports of residential electric lighting fixtures amounted to $X, contracting sharply over the last year. Previously it experienced a steady growth from 2010 to 2016.

As for the total exports of сommercial, residential, industrial and institutional electric lighting fixtures amounted to $X, slightly contracting over the last two year. Previously it experienced a steady growth from 2010 to 2015. In physical terms, exports stood at X units, remaning relatively stable over the last year.

The main destination of the U.S. сommercial, residential, industrial and institutional electric lighting fixtures exports was Canada ($X), amounting to X% of total exports. It was distantly followed by Mexico (X%), the UK (X%) and the UAE (X%). From 2007 to 2017, the highest annual growth rates of exports was in Mexico (+X%), while the other countrie salso had positive dynamics of exports - the UK (+X%), Canada (+X%), the UAE (+X%).

China Emerged as Major Supplier of Residential Electric Lighting Fixtures onto the U.S. Market

In 2017, U.S. residential electric lighting fixture imports expanded to $X, a X% growth against the previous year. Despite declining slightly in 2016, since 2010, imports have increased. In physical terms, however, imports failed to reached its pre-crisis level, totaling X units in 2017.

In 2017, China ($X) dominated amongst the main suppliers of residential electric lighting fixtures into the U.S., comprising X% of the total imports value. Imports from China indicated a moderate growth by +X% from 2007 to 2017. The other suppling countries were Mexico (X%) and India (X%), whereas the remaining countries recorded an insignificant share in the total U.S. imports.

Do you want to know more about the global residential electric lighting fixture market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• residential electric lighting fixture market share
• residential electric lighting fixture prices
• residential electric lighting fixture industry
• residential electric lighting fixture sales
• residential electric lighting fixture import
• residential electric lighting fixture export
• residential electric lighting fixture market forecast
• residential electric lighting fixture price forecast
• key residential electric lighting fixture producers

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Source: IndexBox Market Intelligence Platform