China’s Chandelier Exports Hit Record High of $9.9B
IndexBox has just published a new report: ‘China – Chandeliers – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
Last year, China’s chandelier exports jumped by +12% y-o-y to $9.9B, reaching the highest point ever. China’s share in the global chandelier exports is estimated at 74%. The U.S., followed by Germany and Canada, remains the largest chandelier importer, accounting for 31% of China’s export volume. The supplies to the U.S. and Canada soared, while shipments to Germany decreased slightly last year. The average chandelier export price rose by +16% y-o-y to $13 per unit in 2020.
China’s Chandelier Exports
In 2020, approx. 747M units of chandeliers were exported from China, decreasing by -3.5% against the previous year. In value terms, chandelier exports expanded rapidly by +11.9% y-o-y to $9.9B (IndexBox estimates) in 2020.
The U.S. (230M units) was the leading destination for chandelier exports from China, with a 31% share of total exports. Moreover, chandelier exports to the U.S. exceeded the volume sent to the second major destination, Germany (35M units), sevenfold. Canada (30M units) ranked third in terms of total exports with a 4% share.
In value terms, the U.S. ($2.5B) remains the key foreign market for chandelier exports from China, comprising 25% of total exports. The second position in the ranking was occupied by Germany ($502M), with a 5.1% share of total exports, and it was followed by Canada, with a 4.6% share.
In 2020, the supplies to the U.S. rose by +22.6% y-o-y. Exports to Germany dropped by -2.0% y-o-y, while shipments to Canada increased by +11.5% y-o-y.
The average chandelier export price stood at $13 per unit in 2020, increasing by +16% against the previous year. There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was the Netherlands ($19 per unit), while the average price for exports to Brazil ($10 per unit) was amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Russia, while the prices for the other significant destinations experienced more modest paces of growth.
Source: IndexBox Platform