China's Global Export Of Lighting Products In 2022

Overall Market Situation

1. Export Situation:

       In the first quarter of 2022, China's total exports of lighting products amounted to $13.452 billion, a slight decline of 2.37% compared with the same period last year. Among them, the export value of LED lighting products was 9.996 billion US dollars, slightly down by 1.76% year-on-year. Better than expected, I should say. Among them, the traditional light source products generally declined a large margin, LED related products, lamps and accessories products are relatively stable. It should be pointed out that a number of products, including LED bulbs and LED tubes, have a larger decline in quantity. Excluding the price inflation factors caused by the sharp rise in the upstream costs of raw materials, energy, logistics and other products, the actual export decline is greater than the decline reflected in the export amount.

       On a quarterly basis, this is the first quarterly negative growth of China's lighting exports since the outbreak of COVID-19 in the first quarter of 2020, but the decline is within expectations, and the export of both total lighting products and LED lighting products is still at a record high.

2. The market share of China's lighting products exported to Europe and America shrank slightly

       In the first half of this year, China's export of lighting products to North America was $10.45 billion, down 5.5% year on year, accounting for 28.7% of the global market share. Among them, exports to the United States and Canada were $9.36 billion and $1.09 billion, respectively, down 5.5% and 4.9% year on year.

       In the first eight months, China's export of lighting products to Europe was $9.88 billion, down 5.5 percent year on year, accounting for 27.1 percent of the global share. Germany, the UK and Italy are the top three export destinations of Chinese lighting products in the European and American markets. Among them, the exports to Germany, the UK and Italy reached US $1.77 billion, US $1.34 billion and US $630 million, respectively, up by 4.3%, down by 25% and up by 20.8%.

3. The export volume of Chinese lighting products to Asia increased

       In the first eight months, China's export of lighting products to Asia was $11.22 billion, up 10.4 percent year on year, accounting for 30.8 percent of the global share. Among them, the export to ASEAN was US $4.48 billion, up 23% year on year, accounting for 12.3% of the global share.

       In the ASEAN market, the amount of Chinese lighting products exported to Malaysia, Thailand, the Philippines and Laos increased significantly year-on-year. Although the export value to Myanmar was not high, it recorded an explosive growth of 399.5 percent year-on-year. In addition, China exported $1.04 billion of lighting products to India, up 28.3 percent year on year.

4. Exports to Latin America and Oceania both increased and exports to Africa declined slightly

       In the first eight months, China exported $2.45 billion of lighting products to Latin America, up 9.1 percent year on year and accounting for 9.4 percent of the global share. Among them, the export to Mexico was 730 million US dollars, a year-on-year growth of 18.5%; Exports to Panama and Peru were $152 million and $148 million, up 32.3% and 37.7%, respectively. China's export of lighting products to Africa was $1.55 billion, down 0.38% year on year. Among them, the export to Egypt was USD 260 million, down 25.1% year on year; Exports to Nigeria and South Africa were $230 million and $220 million, up 2.3% and 10.8%, respectively. China's export of lighting products to Oceania was $910 million, up 8.5 percent year on year. Among them, the export to Australia was 780 million US dollars, a year-on-year growth of 10.5%.

5. The implementation of RCEP provides new opportunities for the export of Chinese lighting products

       Data showed that in the first half of the year, China exported $7.07 billion of lighting products to the other 14 RCEP member countries, up 12.0 percent year on year, accounting for 19.4 percent of the global market share.

       Influenced by the continuous improvement of energy efficiency testing standards in Saudi Arabia since 2020, the export of Chinese lighting products to Saudi Arabia has continued to decline. In the first six months, the export value of Chinese lighting products to Saudi Arabia was 760 million dollars, down 9.9% year-on-year. From the perspective of products, at present, the market shares of traditional products such as fluorescent lamp, incandescent lamp and halogen tungsten lamp continue to shrink, and the replacement trend of LED related lighting products to traditional products is obvious. Statistics show that China's exports of LED-related lighting products reached $12 billion in the first half of this year, accounting for more than 45 percent. At the same time, due to the relaxation of epidemic prevention policies in many countries, the export of anti-epidemic lighting products such as scientific research, medical lamps and ultraviolet lamps in the first eight months was 207 million US dollars, down by 1.0% year-on-year. The export of special lighting products for motor vehicles, trains, aircraft and ships was $159 million, down 30.7 percent year on year.

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