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

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

The Asian market for solar cells and light-emitting diodes surged to $X in 2022, with an increase of X% against the previous year. In general, consumption recorded a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Solar Cells and Light-Emitting Diodes in Asia

In value terms, solar cells and light-emitting diodes production amounted to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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Exports of Solar Cells and Light-Emitting Diodes

Exports in Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of solar cells and light-emitting diodes, when their volume decreased by X% to X units. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then fell rapidly in the following year.

In value terms, solar cells and light-emitting diodes exports reduced to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2022, China (X units) represented the main exporter of solar cells and light-emitting diodes, achieving X% of total exports. Hong Kong SAR (X units) ranks second in terms of the total exports with a X% share, followed by Singapore (X%) and Malaysia (X%). Thailand (X units) and South Korea (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to solar cells and light-emitting diodes exports from China stood at X%. At the same time, Singapore (X%), Thailand (X%), Malaysia (X%), South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), Singapore (X p.p.), Malaysia (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest solar cells and light-emitting diodes supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

In China, solar cells and light-emitting diodes exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced a decline in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in Asia

In 2022, after ten years of growth, there was significant decline in supplies from abroad of solar cells and light-emitting diodes, when their volume decreased by X% to X units. In general, imports, however, saw significant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then contracted rapidly in the following year.

In value terms, solar cells and light-emitting diodes imports rose markedly to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The countries with the highest levels of solar cells and light-emitting diodes imports in 2022 were China (X units), Hong Kong SAR (X units), Singapore (X units), Japan (X units), Vietnam (X units), India (X units) and Thailand (X units), together amounting to X% of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, India, with a CAGR of X%, saw 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

The import price in Asia stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price, however, showed a deep setback. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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