Electric Lamp Market

The global electric lamp market is forecasted to continue its downward trend over the next eight years, with both market volume and value expected to contract. China, the United States, and India are key players in terms of consumption and production in the market. LED lamps and electric filament lamps are the most consumed products, while electric filament lamps dominate production. The United States is the largest importer and Germany is the largest exporter of electric lamps. Prices for electric lamp imports and exports have seen some fluctuations over the years.

Market Forecast

Depressed by shrinking demand for electric lamp worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -2.0% for the period from 2022 to 2030, which is projected to depress the market volume to 35B units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market value to $91.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electric Lamps

In 2022, consumption of electric lamps was finally on the rise to reach 41B units for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at 43B units in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global electric lamp market size reduced sharply to $84.1B in 2022, falling by -16.6% 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). Over the period under review, consumption, however, recorded a mild curtailment. Over the period under review, the global market reached the peak level at $110.5B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

China (17B units) remains the largest electric lamp consuming country worldwide, comprising approx. 40% of total volume. Moreover, electric lamp consumption in China exceeded the figures recorded by the second-largest consumer, the United States (5B units), threefold. India (3.3B units) ranked third in terms of total consumption with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +4.0%. In the other countries, the average annual rates were as follows: the United States (+1.8% per year) and India (-1.4% per year).

In value terms, the largest electric lamp markets worldwide were Germany ($15B), the United States ($9.8B) and Japan ($7.1B), with a combined 38% share of the global market.

Among the main consuming countries, the United States, with a CAGR of +1.9%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

The countries with the highest levels of electric lamp per capita consumption in 2022 were the United States (15 units per person), South Korea (12 units per person) and China (12 units per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +3.9%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Consumption By Type

The products with the highest volumes of consumption in 2022 were electric filament lamps (18B units), LED lamps (12B units) and tungsten halogen lamps (8.9B units), together accounting for 92% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consumed products, was attained by LED lamps (with a CAGR of +25.8%), while consumption for the other products experienced mixed trends in the consumption figures.

In value terms, LED lamps ($44.8B) led the market, alone. The second position in the ranking was held by tungsten halogen lamps ($13.6B). It was followed by electric filament lamps.

For LED lamps, market increased at an average annual rate of +6.9% over the period from 2012-2022. With regard to the other consumed products, the following average annual rates of growth were recorded: tungsten halogen lamps (-5.5% per year) and electric filament lamps (+4.2% per year).

Production

World Production of Electric Lamps

In 2022, production of electric lamps decreased by -0.9% to 50B units, falling for the second year in a row after four years of growth. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13% against the previous year. Global production peaked at 53B units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, electric lamp production rose to $91.9B in 2022 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 51%. Global production peaked at $94.2B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of electric lamp production was China (33B units), comprising approx. 65% of total volume. Moreover, electric lamp production in China exceeded the figures recorded by the second-largest producer, the United States (3.1B units), tenfold. India (3.1B units) ranked third in terms of total production with a 6.2% share.

In China, electric lamp production expanded at an average annual rate of +1.6% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (+4.2% per year) and India (-1.6% per year).

Production By Type

Electric filament lamps (24B units) constituted the product with the largest volume of production, accounting for 51% of total volume. Moreover, electric filament lamps exceeded the figures recorded for the second-largest type, LED lamps (10B units), twofold. Tungsten halogen lamps (9.2B units) ranked third in terms of total production with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of the volume of electric filament lamps production stood at +1.4%. With regard to the other produced products, the following average annual rates of growth were recorded: LED lamps (+31.0% per year) and tungsten halogen lamps (-6.3% per year).

In value terms, LED lamps ($25.4B), electric filament lamps ($15B) and tungsten halogen lamps ($11.6B) constituted the products with the highest levels of production in 2022, with a combined 76% share of global production.

In terms of the main produced products, LED lamps, with a CAGR of +20.0%, saw the highest rates of growth with regard to market size over the period under review, while production for the other products experienced mixed trends in the production figures.

Imports

World Imports of Electric Lamps

In 2022, global imports of electric lamps reduced to 9.8B units, dropping by -12.3% on the previous year's figure. In general, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. Global imports peaked at 16B units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, electric lamp imports dropped to $12.9B in 2022. Overall, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. Over the period under review, global imports attained the maximum at $16.5B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (2B units), distantly followed by Russia (664M units) and Mexico (659M units) represented the key importers of electric lamps, together constituting 34% of total imports. Brazil (293M units), India (280M units), the United Arab Emirates (274M units), China (259M units), Malaysia (246M units), Indonesia (223M units), Turkey (222M units), Germany (193M units), France (192M units) and Argentina (191M units) held a minor share of total imports.

Imports into the United States decreased at an average annual rate of -1.9% from 2012 to 2022. At the same time, Malaysia (+8.9%) and Russia (+1.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +8.9% from 2012-2022. Mexico and Argentina experienced a relatively flat trend pattern. By contrast, India (-2.6%), Indonesia (-3.0%), the United Arab Emirates (-3.1%), Turkey (-6.5%), Brazil (-6.6%), China (-7.7%), Germany (-12.3%) and France (-14.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, Russia, Mexico and Malaysia increased by +5.5, +3.3, +2.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3B) constitutes the largest market for imported electric lamps worldwide, comprising 23% of global imports. The second position in the ranking was held by Germany ($812M), with a 6.3% share of global imports. It was followed by France, with a 4.9% share.

In the United States, electric lamp imports increased at an average annual rate of +2.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-2.0% per year) and France (-3.2% per year).

Imports By Type

In 2022, electric filament lamps (6.5B units) represented the major type of electric lamps, generating 65% of total imports. LED lamps (1.5B units) ranks second in terms of the total imports with a 15% share, followed by tungsten halogen lamps (9.9%) and fluorescent discharge lamps (8.7%).

From 2012 to 2022, average annual rates of growth with regard to electric filament lamps imports of stood at -6.9%. At the same time, LED lamps (+8.0%) displayed positive paces of growth. Moreover, LED lamps emerged as the fastest-growing type imported in the world, with a CAGR of +8.0% from 2012-2022. By contrast, tungsten halogen lamps (-9.8%) and fluorescent discharge lamps (-16.4%) illustrated a downward trend over the same period. LED lamps (+12 p.p.) and electric filament lamps (+4.7 p.p.) significantly strengthened its position in terms of the global imports, while tungsten halogen lamps and fluorescent discharge lamps saw its share reduced by -2.7% and -14.8% from 2012 to 2022, respectively.

In value terms, the largest types of imported electric lamps were ultraviolet or infrared lamps and arc lamps ($1.6B), fluorescent discharge lamps ($1.6B) and LED lamps ($1.5B), with a combined 66% share of global imports.

Among the main imported products, ultraviolet or infrared lamps and arc lamps, with a CAGR of +1.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

Import Prices By Type

In 2022, the average electric lamp import price amounted to $1.3 per unit, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 an increase of 26%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was ultraviolet or infrared lamps and arc lamps ($15 per unit), while the price for electric filament lamps ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by tungsten halogen lamp (+3.1%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average electric lamp import price stood at $1.3 per unit in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 when the average import price increased by 26%. Global import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($4.2 per unit), while the United Arab Emirates ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+12.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electric Lamps

In 2022, after two years of growth, there was significant decline in shipments abroad of electric lamps, when their volume decreased by -34.9% to 18B units. Overall, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 32% against the previous year. The global exports peaked at 28B units in 2021, and then fell sharply in the following year.

In value terms, electric lamp exports fell notably to $8B in 2022. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. Over the period under review, the global exports attained the maximum at $16.1B in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports By Country

The biggest shipments were from China (16B units), together recording 89% of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of electric lamps. While the share of China (+22 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.3B) also remains the largest electric lamp supplier worldwide.

In China, electric lamp exports plunged by an average annual rate of -9.1% over the period from 2012-2022.

Exports By Type

Electric filament lamps dominates exports structure, finishing at 13B units, which was near 83% of total exports in 2022. Fluorescent discharge lamps (1.3B units) ranks second in terms of the total exports with a 7.8% share, followed by tungsten halogen lamps (7.8%).

Electric filament lamps was also the fastest-growing in terms of exports, with a CAGR of -4.8% from 2012 to 2022. tungsten halogen lamps (-9.4%) and fluorescent discharge lamps (-14.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of electric filament lamps increased by +15 percentage points.

In value terms, the largest types of exported electric lamps were ultraviolet or infrared lamps and arc lamps ($2B), fluorescent discharge lamps ($1.8B) and tungsten halogen lamps ($1.3B), with a combined 83% share of global exports.

Ultraviolet or infrared lamps and arc lamps, with a CAGR of +2.8%, saw the highest growth rate of the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced a decline in the exports figures.

Export Prices By Type

The average electric lamp export price stood at $0.4 per unit in 2022, reducing by -16.5% against the previous year. Overall, the export price saw a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18% against the previous year. As a result, the export price attained the peak level of $0.7 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was ultraviolet or infrared lamps and arc lamps ($16 per unit), while the average price for exports of electric filament lamps ($0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by ultraviolet, infrared, or arc lamp (+3.4%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average electric lamp export price amounted to $0.4 per unit, shrinking by -16.5% against the previous year. Over the period under review, the export price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18% against the previous year. As a result, the export price reached the peak level of $0.7 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -8.6% per year.

Source: IndexBox Market Intelligence Platform