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

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

The Singaporean market for residential, commercial and industrial lighting fixture surged 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, the total consumption indicated a tangible expansion 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. Based on 2021 figures, consumption decreased by X% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from Singapore

In 2021, the amount of residential, commercial and industrial lighting fixture exported from Singapore shrank remarkably to X units, waning by X% against the previous year's figure. In general, exports continue to indicate a abrupt curtailment. Over the period under review, the exports of reached the maximum at X units in 2020, and then contracted dramatically in the following year.

In value terms, exports of residential, commercial and industrial lighting fixture declined modestly to $X in 2021. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports of attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Japan (X units) were the main destinations of exports of residential, commercial and industrial lighting fixture from Singapore, together comprising X% of total exports. The United States, Australia, Myanmar, China, Vietnam, India, the Philippines, Cambodia, Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further X%. Moreover, exports of residential, commercial and industrial lighting fixture in Indonesia exceeded the figures recorded by the second-largest exporter, Malaysia, fourfold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Japan ($X) and Malaysia ($X) constituted the largest markets for residential, commercial and industrial lighting fixture exported from Singapore worldwide, with a combined X% share of total exports. The United States, Australia, China, Myanmar, Vietnam, India, South Korea, the Philippines, Hong Kong SAR and Cambodia lagged somewhat behind, together comprising a further X%. Moreover, exports of residential, commercial and industrial lighting fixture in Indonesia exceeded the figures recorded by the second-largest exporter, Japan, threefold.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for residential, commercial and industrial lighting fixture stood at less than $X per unit in 2022, which is down by X% against the previous year. Overall, the export price, however, continues to indicate significant growth. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per unit, and then shrank significantly in the following year.

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

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports into Singapore

In 2021, the amount of residential, commercial and industrial lighting fixture imported into Singapore skyrocketed to X units, increasing by X% on the previous year. In general, imports saw a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of residential, commercial and industrial lighting fixture surged to $X in 2021. Overall, imports, however, continue to indicate a pronounced descent. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Italy (X units) were the main suppliers of imports of residential, commercial and industrial lighting fixture to Singapore, with a combined X% share of total imports. Malaysia, Indonesia, the United States, the UK, France, Norway, Spain, Japan and Hong Kong SAR lagged somewhat behind, together comprising a further X%. Moreover, imports of residential, commercial and industrial lighting fixture in China exceeded the figures recorded by the second-largest supplier, Germany, eightfold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Germany ($X) and Italy ($X) appeared to be the largest residential, commercial and industrial lighting fixture suppliers to Singapore, with a combined X% share of total imports. Malaysia, Indonesia, the United States, the UK, France, Norway, Spain, Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%. Moreover, imports of residential, commercial and industrial lighting fixture in China exceeded the figures recorded by the second-largest supplier, Germany, eightfold.

Indonesia, 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 mixed trend patterns.

Import Prices by Country

The average import price for residential, commercial and industrial lighting fixture stood at less than $X per unit in 2022, waning by X% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per unit) and Japan ($X per unit), while the price for the United States ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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