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

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

In 2021, the Vietnamese market for residential, commercial and industrial lighting fixture decreased by X% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, showed significant growth. 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 Vietnam

In 2021, the amount of residential, commercial and industrial lighting fixture exported from Vietnam skyrocketed to X units, growing by X% against 2020. Overall, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of residential, commercial and industrial lighting fixture soared to $X in 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units), the United Arab Emirates (X units) and Germany (X units) were the main destinations of exports of residential, commercial and industrial lighting fixture from Vietnam, with a combined X% share of total exports. South Korea, Japan, Spain, the Netherlands, France, Italy, China, Poland, the UK and Belgium lagged somewhat behind, together comprising a further X%. Moreover, exports of residential, commercial and industrial lighting fixture in the United States exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, fivefold.

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

In value terms, the largest markets for residential, commercial and industrial lighting fixture exported from Vietnam were the United States ($X), South Korea ($X) and Germany ($X), together comprising X% of total exports. Japan, the United Arab Emirates, France, Spain, the Netherlands, Poland, Italy, China, the UK and Belgium lagged somewhat behind, together accounting for a further X%. Moreover, exports of residential, commercial and industrial lighting fixture in the United States exceeded the figures recorded by the second-largest exporter, South Korea, ninefold.

Among the main countries of destination, the Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to 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 residential, commercial and industrial lighting fixture amounted to less than $X per unit, shrinking by X% against the previous year. In general, the export price, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to the United Arab Emirates ($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 South Korea (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 Vietnam

In 2021, approx. X units of residential, commercial and industrial lighting fixture were imported into Vietnam; remaining stable against 2020. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports of reached the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of residential, commercial and industrial lighting fixture shrank modestly to $X in 2021. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of imports of residential, commercial and industrial lighting fixture to Vietnam, with a combined X% share of total imports. Moreover, imports of residential, commercial and industrial lighting fixture in China exceeded the figures recorded by the second-largest supplier, Italy, more than tenfold.

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, the largest residential, commercial and industrial lighting fixture suppliers to Vietnam were China ($X), Italy ($X) and Germany ($X), with a combined X% share of total imports. Moreover, imports of residential, commercial and industrial lighting fixture in China exceeded the figures recorded by the second-largest supplier, Italy, more than tenfold.

China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 residential, commercial and industrial lighting fixture amounted to less than $X per unit, which is down by X% against the previous year. Overall, the import price faced a abrupt descent. The pace of growth was the most pronounced 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 Indonesia ($X per unit) and Italy ($X per unit), while the price for South Korea ($X per unit) and China ($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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