Vietnam: Electric Filament Lamp Market 2024

Electric Filament Lamp Market Size in Vietnam

In 2021, the Vietnamese electric filament lamp market decreased by -18% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Electric Filament Lamp Production in Vietnam

In value terms, electric filament lamp production fell to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Electric Filament Lamp Exports

Exports from Vietnam

In 2021, shipments abroad of electric filament lamps was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports showed a slight expansion. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric filament lamp exports soared to $X in 2021. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for electric filament lamp exports from Vietnam, with a 55% share of total exports. Moreover, electric filament lamp exports to Indonesia exceeded the volume sent to the second major destination, South Korea (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 12% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to Indonesia amounted to -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-2.3% per year) and Japan (-19.9% per year).

In value terms, Indonesia ($X) remains the key foreign market for electric filament lamps exports from Vietnam, comprising 54% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports. It was followed by Japan, with a 15% share.

From 2012 to 2020, the average annual growth rate of value to Indonesia stood at -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-5.3% per year) and Japan (-13.0% per year).

Export Prices by Country

The average electric filament lamp export price stood at $X per unit in 2020, picking up by 16% against the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of +5.4%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 28%. The export price peaked in 2020 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2020, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+133.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Filament Lamp Imports

Imports into Vietnam

In 2021, electric filament lamp imports into Vietnam reduced remarkably to X units, declining by -47.2% on the previous year's figure. Over the period under review, imports, however, recorded moderate growth. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, electric filament lamp imports contracted sharply to $X in 2021. Overall, imports recorded a pronounced reduction. The pace of growth was the most pronounced in 2014 when imports increased by 124%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Slovakia (X units) were the main suppliers of electric filament lamp imports to Vietnam, with a combined 20% share of total imports.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +19.5%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of electric filament lamps to Vietnam, comprising 33% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Slovakia, with a 2.8% share.

From 2012 to 2020, the average annual rate of growth in terms of value from China amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.2% per year) and Slovakia (+54.1% per year).

Import Prices by Country

In 2020, the average electric filament lamp import price amounted to $X per unit, increasing by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was China ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by China (+39.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :