Belgium: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Belgium

The Belgian market for electrical lighting or visual signaling equipment for motor vehicles and cycles fell to $X in 2022, declining by X% against the previous year. The market 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 throughout the analyzed period. Lighting equipment for motor vehicles consumption peaked at $X in 2021, and then shrank modestly in the following year.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Belgium

In value terms, lighting equipment for motor vehicles production reduced modestly to $X in 2022 estimated in export price. The total output 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 pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Belgium

In 2022, shipments abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, lighting equipment for motor vehicles exports stood at $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Germany (X units), France (X units) and the UK (X units) were the main destinations of lighting equipment for motor vehicles exports from Belgium, with a combined X% share of total exports. Brazil, the Netherlands, Italy, Spain, Poland, Austria, Malaysia, the United States, Sweden and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for lighting equipment for motor vehicles exported from Belgium were Germany ($X), France ($X) and the Netherlands ($X), with a combined X% share of total exports. Brazil, the UK, Italy, Spain, Sweden, Poland, Malaysia, Austria, the United States and Japan lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malaysia, with a CAGR of X%, saw the highest growth rate of 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 2022, the average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price saw a strong increase. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Italy ($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 Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Belgium

In 2022, purchases abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the sixth year in a row after two years of decline. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its volume 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 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, lighting equipment for motor vehicles imports reduced slightly to $X in 2022. In general, total imports indicated notable growth 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 2015 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Germany (X units), France (X units) and Austria (X units) were the main suppliers of lighting equipment for motor vehicles imports to Belgium, with a combined X% share of total imports. Taiwan (Chinese), Slovakia, Poland, China, the Netherlands, the UK, the Czech Republic, Italy, Slovenia and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, France ($X), Austria ($X) and Germany ($X) constituted the largest lighting equipment for motor vehicles suppliers to Belgium, with a combined X% share of total imports. Slovakia, Poland, the Netherlands, China, Taiwan (Chinese), the UK, Japan, Italy, Slovenia and the Czech Republic lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, dropping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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