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

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

The Colombian market for residential, commercial and industrial lighting fixture skyrocketed to $X in 2021, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from Colombia

In 2021, exports of residential, commercial and industrial lighting fixture from Colombia declined dramatically to X units, reducing by X% against the previous year. In general, exports recorded a significant curtailment. Over the period under review, the exports of attained the maximum at X units in 2020, and then declined sharply in the following year.

In value terms, exports of residential, commercial and industrial lighting fixture fell to $X in 2021. Over the period under review, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X units), Panama (X units) and El Salvador (X units) were the main destinations of exports of residential, commercial and industrial lighting fixture from Colombia, with a combined X% share of total exports. Bolivia, the United States, Costa Rica, Peru, Cuba, Guatemala, Mexico, Venezuela and the Dominican Republic lagged somewhat behind, together comprising a further X%.

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

In value terms, Ecuador ($X), Costa Rica ($X) and Panama ($X) constituted the largest markets for residential, commercial and industrial lighting fixture exported from Colombia worldwide, with a combined X% share of total exports. The United States, El Salvador, Peru, Cuba, Bolivia, the Dominican Republic, Guatemala, Mexico and Venezuela lagged somewhat behind, together accounting for a further X%.

Bolivia, with a CAGR of X%, 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 mixed trend patterns.

Export Prices by Country

The average export price for residential, commercial and industrial lighting fixture stood at less than $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then shrank markedly in the following year.

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

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Imports of Residential, Commercial and Industrial Lighting Fixture

Imports into Colombia

In 2021, imports of residential, commercial and industrial lighting fixture into Colombia skyrocketed to X units, jumping by X% on 2020 figures. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, imports of residential, commercial and industrial lighting fixture skyrocketed to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units) and the United States (X units) were the main suppliers of imports of residential, commercial and industrial lighting fixture to Colombia.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%).

In value terms, the largest residential, commercial and industrial lighting fixture suppliers to Colombia were China ($X) and the United States ($X).

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average import price for residential, commercial and industrial lighting fixture amounted to less than $X per unit, dropping by X% against the previous year. In general, the import price showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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