Lamps and lanterns industry export data 2024

According to the comprehensive analysis of 2024 lamps and lanterns industry export data, combined with the General Administration of Customs, China Lighting and Electrical Appliance Association and other multi-party statistics, the following is a summary of the main export situation:

I. Overall exports

1. total export amount
2. For the whole year of 2024, China’s total exports of lighting products amounted to US$48.450 billion, a slight decrease of 1.2% year-on-year. Among them, the export value of lamps and lanterns (including lighting fixtures and parts) amounted to 42.191 billion U.S. dollars, basically unchanged from the previous year.
3. The proportion of LED lighting products exports continued to increase, amounting to $ 26.893 billion, up 6.2%.
4. Export characteristics
5. Volume increase and price reduction: export volume growth is significant (such as LED module exports increased by 488% year-on-year), but the average price of exports generally declined, showing a “price for volume” trend.
6. Regional differentiation: weak markets in Europe and the US, with emerging markets (e.g. ASEAN, Middle East) supporting growth.

II. Product structure analysis

1. LED product dominance
2. LED electric light source (including bulbs, tubes, modules) exports 22.8 billion, accounting for 90% of the export volume of electric light source for general lighting, of which the LED module exports jumped 527% year-on-year.
3. Accelerated phase-out of traditional light sources: 17% year-on-year decline in exports of incandescent and fluorescent lamps.
4. Lamps and lanterns
5. Fixed luminaires: export volume and export value increased by 16.5% and 0.6% respectively.
6. Photovoltaic LED lamps and lanterns: exports increased by 83% year-on-year, the fastest growth rate.
7. Removable lamps and lanterns: export volume increased by 10.8%, export value increased by 4.7%.

III. Market structure analysis

1. Main export destinations
2. Europe and the US: exports amounted to USD 22.5 billion (50%), a slight decrease of 0.1% year-on-year. The United States remained the largest single market ($10.86 billion, or 22.4%), but demand was weak.
3. Countries along the “Belt and Road”: exports amounted to US$20 billion (44%), up 2% year-on-year, with ASEAN countries (e.g., Malaysia, Singapore, Vietnam) growing at a rate of 14%.
4. RCEP members: exports of $11.13 billion, up 7.5% year-on-year, with Singapore and Thailand standing out.
5. Emerging Markets Highlights
6. Middle East: affluent countries such as Saudi Arabia prefer high-end lamps and lanterns, but subject to energy-efficiency standards, exports fell 1.1% year-on-year.
7. Africa: strong demand for solar streetlights in areas with electricity shortage, but overall exports fell by 8.6%.

IV. Challenges and trends

1. Key challenges
2. Price competition has intensified: nearly 90% of the average export price decline, enterprises are facing the “increase in volume does not increase revenue” predicament.
3. Overcapacity: industry homogenization is serious, downstream enterprise capacity utilization rate of only 60%.
4. Trade barriers: Saudi Arabia and other markets have raised energy efficiency standards, and some products have been recalled for failing to meet them.
5. future trends
6. Technology upgrading: intelligent lighting, health and eye care lamps and lanterns demand growth, promote product value-added enhancement.
7. Market diversification: accelerate the layout of emerging markets such as Southeast Asia and Central Asia to diversify the risk of European and American dependence.
8. Green transformation: photovoltaic LED lamps and energy-saving retrofit projects (e.g., municipal streetlights) have become growth points.

summarize

In 2024, the export of lamps and lanterns industry presents the characteristics of “total pressure, structural optimization and regional differentiation”. Despite price competition and overcapacity pressure, LED technology penetration rate, emerging markets and green transformation demand for the industry to provide growth momentum. In the future, we need to deal with the challenges through technological innovation and globalization layout.