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

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

The East Asian market for solar cells and light-emitting diodes amounted to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a pronounced descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Solar Cells and Light-Emitting Diodes in Eastern Asia

In value terms, solar cells and light-emitting diodes production declined modestly to $X in 2022 estimated in export price. The total production indicated a perceptible 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 increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Exports of Solar Cells and Light-Emitting Diodes

Exports in Eastern Asia

Solar cells and light-emitting diodes exports contracted sharply to X units in 2022, with a decrease of X% compared with 2021. Overall, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

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

Exports by Country

China represented the key exporter of solar cells and light-emitting diodes in Eastern Asia, with the volume of exports amounting to X units, which was near X% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), creating a X% share of total exports. South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the solar cells and light-emitting diodes exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, increasing by X% against the previous year. In general, the export price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($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 Eastern Asia

In 2022, after ten years of growth, there was significant decline in purchases abroad of solar cells and light-emitting diodes, when their volume decreased by X% to X units. In general, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of import peaked at X units in 2021, and then contracted in the following year.

In value terms, solar cells and light-emitting diodes imports fell to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of solar cells and light-emitting diodes, namely China, Hong Kong SAR and Japan, represented more than two-thirds of total import. It was distantly followed by South Korea (X units), committing a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest solar cells and light-emitting diodes importing markets in Eastern Asia were China ($X), Hong Kong SAR ($X) and Japan ($X), together accounting for X% of total imports.

Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, continues to indicate a abrupt contraction. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while Japan ($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 other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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