ASEAN: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in ASEAN

The ASEAN market for solar cells and light-emitting diodes skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption enjoyed a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Solar Cells and Light-Emitting Diodes in ASEAN

In value terms, solar cells and light-emitting diodes production stood at $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports in ASEAN

In 2022, after five years of growth, there was significant decline in overseas shipments of solar cells and light-emitting diodes, when their volume decreased by X% to X units. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then declined significantly in the following year.

In value terms, solar cells and light-emitting diodes exports fell significantly to $X in 2022. Overall, exports, however, recorded a resilient increase. 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 attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) and Malaysia (X units) were the main exporters of solar cells and light-emitting diodes in 2022, amounting to approx. X% and X% of total exports, respectively. It was distantly followed by Thailand (X units), comprising a X% share of total exports. The following exporters - Vietnam (X units) and the Philippines (X units) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest solar cells and light-emitting diodes supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, jumping by X% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in ASEAN

After five years of growth, overseas purchases of solar cells and light-emitting diodes decreased by X% to X units in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2021, and then shrank notably in the following year.

In value terms, solar cells and light-emitting diodes imports declined significantly to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell remarkably in the following year.

Imports by Country

Singapore (X units) and Vietnam (X units) were the largest importers of solar cells and light-emitting diodes in 2022, accounting for near X% and X% of total imports, respectively. It was distantly followed by Thailand (X units), committing a X% share of total imports. The following importers - Malaysia (X units) and the Philippines (X units) - each resulted at a X% share of total imports.

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

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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