Sealed Beam Market

The article analyzes the rising demand for sealed beam worldwide, with an anticipated increase in market volume and value. It discusses consumption patterns, production trends, and the import and export dynamics of sealed beam lamp units. Key insights include the decline in global consumption in 2022, the highest consuming countries, notable growth rates, production trends, import and export statistics, and average prices of sealed beam units in different countries.

Market Forecast

Driven by rising demand for sealed beam worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 256M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $4.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sealed Beam Lamp Units

In 2022, global consumption of sealed beam lamp units fell rapidly to 222M units, declining by -16.3% compared with 2021 figures. Over the period under review, consumption showed a perceptible descent. Global consumption peaked at 404M units in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

The global sealed beam market value dropped to $3.4B in 2022, which is down by -2% 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $4.6B in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (29M units), the United States (21M units) and Japan (16M units), with a combined 30% share of global consumption. China, Germany, Russia, Indonesia, Thailand, Spain, Turkey, South Korea, Portugal and France lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Portugal (with a CAGR of +13.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($627M), Japan ($397M) and Indonesia ($267M) constituted the countries with the highest levels of market value in 2022, together comprising 38% of the global market.

Spain, with a CAGR of +6.2%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of sealed beam per capita consumption was registered in Portugal (541 units per 1000 persons), followed by Spain (150 units per 1000 persons), Germany (137 units per 1000 persons) and Japan (126 units per 1000 persons), while the world average per capita consumption of sealed beam was estimated at 28 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the sealed beam per capita consumption in Portugal amounted to +14.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Spain (-0.7% per year) and Germany (-2.2% per year).

Production

World Production of Sealed Beam Lamp Units

In 2022, global sealed beam production expanded modestly to 276M units, rising by 2.6% on the previous year's figure. In general, production, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. As a result, production reached the peak volume of 450M units. From 2014 to 2022, global production growth remained at a lower figure.

In value terms, sealed beam production totaled $3.5B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24%. Over the period under review, global production hit record highs at $4.2B in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Production By Country

China (94M units) constituted the country with the largest volume of sealed beam production, accounting for 34% of total volume. Moreover, sealed beam production in China exceeded the figures recorded by the second-largest producer, India (29M units), threefold. The United States (16M units) ranked third in terms of total production with a 5.9% share.

In China, sealed beam production declined by an average annual rate of -4.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+1.7% per year) and the United States (+0.4% per year).

Imports

World Imports of Sealed Beam Lamp Units

In 2022, supplies from abroad of sealed beam lamp units increased by 8.1% to 47M units for the first time since 2014, thus ending a seven-year declining trend. In general, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 23% against the previous year. As a result, imports attained the peak of 132M units. From 2015 to 2022, the growth of global imports failed to regain momentum.

In value terms, sealed beam imports rose markedly to $422M in 2022. Overall, imports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 23%. Over the period under review, global imports hit record highs at $705M in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (6.8M units), distantly followed by the UK (3.4M units), Mexico (3.3M units), the United Arab Emirates (2.7M units), Thailand (2.6M units) and Italy (2.3M units) represented the key importers of sealed beam lamp units, together committing 45% of total imports. Canada (1.8M units), Brazil (1.5M units), France (1.4M units), Poland (1.3M units), Spain (1.1M units), Indonesia (1.1M units) and Malaysia (0.9M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +4.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest sealed beam importing markets worldwide were Mexico ($54M), France ($50M) and the United States ($26M), together comprising 31% of global imports.

In terms of the main importing countries, Mexico, with a CAGR of +10.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average sealed beam import price stood at $9 per unit in 2022, picking up by 2.5% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sealed beam import price increased by +68.1% against 2014 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 19% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($36 per unit), while Thailand ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+18.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sealed Beam Lamp Units

In 2022, approx. 101M units of sealed beam lamp units were exported worldwide; surging by 113% on the previous year. Over the period under review, exports, however, continue to indicate a abrupt setback. Over the period under review, the global exports attained the peak figure at 221M units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sealed beam exports skyrocketed to $831M in 2022. In general, exports continue to indicate a relatively flat trend pattern. The global exports peaked at $1B in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports By Country

China prevails in exports structure, recording 82M units, which was approx. 81% of total exports in 2022. It was distantly followed by Belgium (5.5M units), creating a 5.4% share of total exports. The United States (2.2M units) took a little share of total exports.

China was also the fastest-growing in terms of the sealed beam lamp units exports, with a CAGR of -2.5% from 2012 to 2022. Belgium (-8.7%) and the United States (-9.1%) illustrated a downward trend over the same period. China (+28 p.p.) significantly strengthened its position in terms of the global exports, while Belgium saw its share reduced by -1.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($545M) emerged as the largest sealed beam supplier worldwide, comprising 66% of global exports. The second position in the ranking was held by Belgium ($103M), with a 12% share of global exports.

In China, sealed beam exports increased at an average annual rate of +8.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-5.6% per year) and the United States (-5.2% per year).

Export Prices By Country

The average sealed beam export price stood at $8.2 per unit in 2022, reducing by -11.2% against the previous year. Overall, the export price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 43% against the previous year. The global export price peaked at $9.2 per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($19 per unit), while China ($6.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform