Latin America and the Caribbean: Market for Special-Purpose Electric Lamps and Lighting Fittings 2024

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Latin America and the Caribbean

The Latin American market for special-purpose electric lamps and lighting fittings fell to $X in 2022, reducing by X% against the previous year. The total consumption indicated a resilient 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Special-Purpose Electric Lamps and Lighting Fittings in Latin America and the Caribbean

In value terms, production of special-purpose electric lamps and lighting fittings rose modestly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion 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 pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a somewhat lower figure.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports in Latin America and the Caribbean

In 2022, approx. X units of special-purpose electric lamps and lighting fittings were exported in Latin America and the Caribbean; picking up by X% against 2021. Total exports indicated buoyant growth from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of special-purpose electric lamps and lighting fittings fell to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Mexico prevails in fittings structure, finishing at X units, which was approx. X% of total exports in 2022. Colombia (X units) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the special-purpose electric lamps and lighting fittings exports, with a CAGR of X% from 2012 to 2022. Colombia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by X percentage points.

In value terms, Mexico ($X) remains the largest special-purpose electric lamp and lighting fitting supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports.

In Mexico, exports of special-purpose electric lamps and lighting fittings increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price continues to indicate a mild contraction. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Mexico ($X per unit), while Colombia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%).

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports in Latin America and the Caribbean

Imports of special-purpose electric lamps and lighting fittings shrank remarkably to X units in 2022, waning by X% on the previous year's figure. Total imports indicated temperate growth from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then dropped significantly in the following year.

In value terms, imports of special-purpose electric lamps and lighting fittings contracted remarkably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports of attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X units), distantly followed by Mexico (X units), Argentina (X units), Brazil (X units), Venezuela (X units), Colombia (X units) and Peru (X units) were the main importers of special-purpose electric lamps and lighting fittings, together making up X% of total imports. Ecuador (X units), the Dominican Republic (X units), Costa Rica (X units), Belize (X units), Uruguay (X units) and Trinidad and Tobago (X units) followed a long way behind the leaders.

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

In value terms, Mexico ($X), Chile ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Colombia, Venezuela, Brazil, Peru, Ecuador, Uruguay, the Dominican Republic, Costa Rica, Trinidad and Tobago and Belize lagged somewhat behind, together accounting for a further X%.

Uruguay, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Latin America and the Caribbean amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Mexico ($X per unit), while Belize ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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