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

Market Size for Residential, Commercial and Industrial Lighting Fixture in the Philippines

The Philippine market for residential, commercial and industrial lighting fixture soared to $X in 2021, picking up 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). Over the period under review, consumption recorded a strong increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the near future.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports from the Philippines

Exports of residential, commercial and industrial lighting fixture from the Philippines totaled X units in 2021, surging by X% on 2020. Over the period under review, exports recorded measured growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of residential, commercial and industrial lighting fixture skyrocketed to $X in 2021. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X units), Australia (X units) and the Netherlands (X units) were the main destinations of exports of residential, commercial and industrial lighting fixture from the Philippines, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Australia ($X) and the Netherlands ($X) were the largest markets for residential, commercial and industrial lighting fixture exported from the Philippines worldwide, with a combined X% share of total exports.

Australia, with a CAGR of X%, saw the highest growth rate of 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, recorded significant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit, and then declined rapidly in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per unit) and the UK ($X per unit), while the average price for exports to the Netherlands ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (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 the Philippines

In 2021, the amount of residential, commercial and industrial lighting fixture imported into the Philippines skyrocketed to X units, growing by X% against 2020 figures. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports of reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, imports of residential, commercial and industrial lighting fixture surged to $X in 2021. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X units), Hong Kong SAR (X units) and Germany (X units) were the main suppliers of imports of residential, commercial and industrial lighting fixture to the Philippines, 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, Hong Kong SAR, fivefold.

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

In value terms, China ($X), Hong Kong SAR ($X) and Germany ($X) appeared to be the largest residential, commercial and industrial lighting fixture suppliers to the Philippines, 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, Hong Kong SAR, fivefold.

Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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. Over the period under review, the import price faced a deep setback. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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