China’s lighting industry exports in the first quarter of 2020

In the first quarter of 2020, China’s lighting industry exports totaled US $ 7.429 billion, down 22.75% year-on-year. Judging from the data of the past years, it is the lowest quarter since 2013. The main reason is the epidemic situation, and the overall growth base has expanded. In recent years, global market demand has continued to weaken. The comprehensive impact of factors such as curbing demand caused by Sino-US trade friction and the outward migration of some domestic manufacturers ’related capacity.

In terms of export products, in addition to anti-epidemic and anti-epidemic research and medical lighting products, other types of products have almost double-digit declines, of which the average export price of LED light source products has decreased. The decline in the export market is also the main theme. The situation is better than that in the European and American markets; for export companies, most of these declines are inevitable, and some companies that responded in a timely manner and resumed work quickly received relatively little negative impact.
The export value of LED lighting products was US $ 4.848 billion, which was a record low since 2014, a year-on-year decrease of 24.34%, and the decline was also the only one in history.

1. Light source products:

Judging from the situation in the first quarter, January is basically normal. February is the most severe period of the domestic epidemic, so the data fell to the bottom. In March, the situation has improved due to the continuous resumption of production and production.
In the first quarter of 2020, China exported a total of 1.741 billion units of various general-purpose light source products, a year-on-year decrease of 22.4%; among them, 380 million incandescent lamps, a year-on-year decrease of 11.5%, and tungsten halogen lamps of 83 million, a year-on-year decrease of 17.6%; compact fluorescent lamps 115 million units, a year-on-year decrease of 46.9%, straight tube / ring fluorescent lamps 409 million units, a year-on-year decrease of 30.3%; three types of HID lamps totaled 12 million units, a year-on-year decrease of 8.2%; LED light sources were 1.102 billion units, a year-on-year decrease of 19.9%, accounting for light sources The total number of exports still reached 63.4%, a slight increase year-on-year. On the whole, the decline of fluorescent products is greater, so the overall proportion is reduced, the pattern of other products is relatively stable, and the substitution of LED light sources for traditional light sources is in a gradual stage.

2.Lighting products:

The main lamps and lanterns products include “chandeliers and electrical lighting devices on ceilings or walls”, that is, fixed lamps; “electrical table lamps, bedside lamps or floor lamps”, portable lamps; “complete lamps for Christmas trees” “;” Unlisted electric lamps and lighting devices “, that is, outdoor lamps and some LED lamps and so on. The export of these types of lamps and lanterns reflects the fundamentals of national economic demand. As the proportion of LED products continues to increase, its export value currently accounts for 60% of the total lighting export, which plays an important role in driving the overall export. status. In the first quarter of this year, the total exports of these four HS-coded lighting products totaled 4.417 billion US dollars, a year-on-year decline of 22.4%, which is in line with the decline in the overall export value of lighting products.

3.Accessories products:

It is mainly used for light sources, lamp holders, heat sinks, glass parts, plastic parts, metal parts for lamps, etc. Accessories products have achieved good growth in recent years. This is due to the deep supply chain characteristics of the lighting industry. Even if other countries are engaged in the manufacture of finished lighting products, they must rely heavily on China ’s complete lighting supply chain, plus last year ’s 301 Due to the impact of tariffs, part of the production capacity of some domestic manufacturers and overseas orders inevitably flow to manufacturing countries such as India, Vietnam, South Korea, Turkey, and Malaysia, and also accelerate the external SKD / CKD trade of related products. The decline in accessory products in the first quarter of this year also reflected the impact of the epidemic on global lighting manufacturing.

4. LED products

Among them, the number of LED light source exports was 1.102 billion, down 19.9% ​​year-on-year; the export value was 876 million US dollars, down 29.9% year-on-year; this also meant that the export unit price fell further by 12.5%, only 0.80 US dollars to continue to refresh the historical low. Among them, the unit price of LED lamp export is only 1.87 US dollars, and the unit price of bulb export is only 0.73 US dollars.

Judging from the monthly data on the export of LED light sources in the past 15 months, compared with the expected decline in export value, the continuous decline in export unit prices is more worrying. The brutal price competition in the overseas market continues and intensifies under the epidemic. .

The export value of LED lamps and lanterns products is about 3.972 billion US dollars, a year-on-year decrease of 23.8%. It currently accounts for about 82% of the total export of LED products, and the proportion of total lamp exports is about 90%.

Looking at the destination countries of LED lighting products, the average drop of the top 20 is 24.8%. Under the overall downward trend, the overall performance of the markets of East Asia, Japan, South Korea, Southeast Asia, and the Middle East is better than that of the European and American markets. The decline of Asian countries is mostly within 20%. Among them, Saudi Arabia and South Korea have even achieved year-on-year growth, which is quite rare. Most of the declines in the European and American markets exceeded 30%.

In the first quarter of 2020, LED lighting products exported to the US were about 1.035 billion US dollars, down nearly 30% year-on-year. Among them, the number of LED light sources is 197 million, a year-on-year decrease of 19.1%, the amount is 252 million US dollars, a year-on-year decrease of 35.9%; and the amount of LED lamps is 783 million, a year-on-year decrease of 27.1%. The decline in the US market is greater than the overall decline. Although China and the United States reached the first phase of agreement at the end of last year, the two sides have also adopted a series of measures to mitigate the impact of trade friction. The product still has some negative effects.
In terms of LED light source products, compared with last year, the unit price of LED light source products in various countries is in an intensified downward trend. Globally, less than 30% of the market has an average price of more than US $ 1, and about half of the same period last year. The situation in which price competition is still fierce is evident.

In terms of market performance, the decline is the main theme, with an average decline of 33.8%, and the overall pattern has not changed much. It is worth mentioning that compared with the same period last year, Saudi Arabia is the only market that is growing in the top 20; South Korea, which did not suspend social life in a large scale during the epidemic, has a relatively small decline, which has squeezed into the list; the six ASEAN countries Among them, Singapore and Malaysia both fell out of the top 20.
In the first quarter of 2020, the total export value of the top 20 LED lighting products exports was approximately US $ 667 million, a year-on-year decrease of 16.6%, accounting for 13.8% of total LED lighting exports, an increase of 1.5 percentage points from the same period last year. At the same time, export enterprises The continued decline in numbers also reflects to a certain extent that the epidemic has accelerated the trend of industrial intensification. Among them, the vast majority of export enterprises have declined to varying degrees, a few have resumed work quickly, and the negative impacts of companies that have responded appropriately are relatively small.
Looking at the top 20 companies exporting LED light sources, there is no difference in the decline in their export value, only the degree of severity. The total export volume of the top 20 is about 416 million, accounting for 37.7% of the total, an increase of 3.2 percentage points from the same period last year. The total export volume is 380 million US dollars, accounting for 43.3% of the total, which has not changed much from last year. It is worth mentioning that due to the rapid response and timely resumption of work, the export volume increased in the first quarter, and the decrease in export value was relatively small, so it surpassed Rieter and Sunshine. In addition to the general decline in export value, another common problem faced by relevant export enterprises is the sharp decline in export unit prices.