Volume Up, Price Down! Analysis of Lighting Industry Export Performance in the First Five Months of This Year

According to the latest import and export data released by the General Administration of Customs, in the first five months of 2026, China's total lighting product exports were approximately USD 19.2 billion, a year-on-year (YoY) decline of about 8%, accounting for 1.8% of total electromechanical product exports. Among them, exports in May alone were approximately USD 4.2 billion, a year-on-year (YoY) decline of 9%, with the rate of decline narrowing by about 7 percentage points compared to April. Overall, industry exports remain in a period of deep adjustment, but structural highlights are gradually emerging.

I. The contradiction of "volume increase, price decline" is prominent; the added value of general products needs improvement

Currently, the most prominent structural contradiction in exports is "volume up, value down, trading price for volume", which continues to squeeze industry profit margins.

In the electric light source sector, total exports of ordinary lighting electric light sources from January to May were approximately 8.1 billion units, a year-on-year (YoY) growth of 20%; among them, LED electric light source product exports were about 7.5 billion units, with a year-on-year (YoY) growth of 24%. However, affected by the decline in unit prices, the export value of electric light sources was only about 2.1 billion USD, a year-on-year (YoY) decrease of 6%. LED bulb exports increased slightly by 1% year-on-year (YoY), while the average export price fell by 11% year-on-year (YoY), and the export value decreased by 11% year-on-year (YoY); LED tube exports grew by 4%, the average export price dropped by 15% year-on-year (YoY), and the export value also declined by 11%.
Contradictions in the luminaire sector are more pronounced. From January to May, the export value of luminaires was approximately $14.1 billion, a year-on-year (YoY) decline of 10%, accounting for 73% of total lighting exports; this share fell by 2 percentage points compared to the same period last year. The export volume of LED fixed luminaires grew by 9% YoY, while the average export price dropped sharply by 21%, leading to a 14% decline in export value. For LED portable luminaires, export volume increased slightly by 1%, but the average export price fell by 24%, resulting in a 23% drop in export value.

The trend of increasing volume but decreasing value reflects that homogeneous competition remains fierce, forcing some enterprises to exchange price for volume. If this continues, it will constrain innovation investment and hinder the industry's transition to a high value-added stage. Enterprises urgently need to accelerate their shift towards technology-driven and brand-led development, focusing more on value-based competition while consolidating their market share.

II. Stable supporting advantages, strong resilience in high value-added products

Under pressure, there are still bright spots. First, the upstream supply chain advantages continue to consolidate. LED module exports grew by 21% year-on-year (YoY), and export volume increased by 44%, further solidifying China's position as a global LED supply chain hub. Looking at the top 20 export markets for Chinese LED modules, demand is concentrated mainly in South Asia and Southeast Asia. Imports from Pakistan, India, Vietnam, Cambodia, and other countries accounted for 60% of total exports of this product, up 37% compared to the same period last year. Additionally, Egypt in North Africa saw imports grow by 19%, while Spain in Europe recorded an increase of over 600%.

Parts made of other materials for goods listed under heading 9405 (Luminaire category) achieved double-digit growth in both export volume and value, increasing by 8% and 1% respectively year-on-year (YoY). Among the top ten export markets for this product, Southeast Asian markets such as Vietnam and Thailand had the highest import volumes, accounting for about 30% of the total, with a year-on-year (YoY) increase of 19%. In recent years, against the backdrop of sustained pressure from US tariffs and foreign trade policies in other regions, exports of upstream supporting products in China's lighting industry have grown significantly, objectively reflecting the accelerating trend of relocation and adjustment of China's lighting industry.

Secondly, products related to emerging industries and those with differentiated characteristics have demonstrated strong pricing power. Photovoltaic lighting product exports grew by 3% year-on-year (YoY), with the average export price rising by 13%; automotive lighting product exports increased by 5% year-on-year (YoY), with the average export price rising by 6%, making it one of the few categories achieving simultaneous growth in both value and price. Additionally, LED Christmas light strings, searchlights and spotlights designed solely for LED light sources (non-photovoltaic), etc., saw export values increase by 4% and 2% respectively. This indicates that focusing on high-value-added, scenario-based products can effectively resist downward price pressure and represents a key direction for breaking through industry challenges.

III. Emerging markets show considerable growth, while traditional markets vary in temperature

Looking at export destinations, exports to the top ten markets from January to May totaled approximately $9 billion, a year-on-year (YoY) decline of 9%, accounting for about 47% of the total. Among them, Russia and India were the only two markets with positive growth among the top ten, with export values of approximately $503 million and $487 million respectively, representing year-on-year (YoY) increases of 18% and 12%.

The strategic value of the African market continues to rise; exports to Africa from January to May totaled approximately $1.5 billion, a year-on-year (YoY) increase of 4%, with its share increasing by 1 percentage point. Major markets such as Nigeria, South Africa, and Egypt maintained growth, Côte d'Ivoire grew by 33%, Morocco by 11%, releasing incremental potential across multiple points.

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European market export value decreased slightly year-on-year 2%, with exports totaling approximately $5.1 billion; however, the share increased by 2 percentage points compared to the same period last year, showing significant divergence in internal demand. Driven by demand for photovoltaics and energy-saving renovations, Spain's export value surged 21%, while France grew 5%.

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The decline in the US market remains significant; exports to the US in the first five months totaled approximately $3.6 billion, down 12% year-on-year. Among these, luminaire exports fell 17%, while electric light source exports rose slightly by 3%. Notably, exports to the US in May alone grew 11% year-on-year, indicating a certain catch-up effect, though the long-term structural impact of US-China trade friction still requires close monitoring.

Based on recent export data, China's lighting foreign trade has been in a deep adjustment phase for several years, with a downward trend showing some inertia. Under the dual pressure of weak global economic recovery and continuously accumulating trade barriers, external demand remains generally weak. From January to May, China's lighting product export value gradually declined from a historical high of about $22.6 billion in 2022 to $20.8 billion in 2025, and further dropped to $19.2 billion in 2026.

Facing a complex and severe external environment, the entire industry must continue to exert efforts in three aspects: First, adhere to innovation-driven development, focus on high value-added areas such as photovoltaic lighting and smart lighting to increase R&D investment, enhance bargaining power through technological iteration, and accelerate the cultivation of new quality productive forces; Second, optimize global layout, deepen cultivation in growth markets such as Africa and Russia, improve localization channel construction, and diversify risks from single markets; Third, strengthen risk control, closely track geopolitical developments, flexibly adjust market priorities, and effectively utilize policy tools such as export credit insurance to build a solid defense line for capital chain and business chain safety.

To help enterprises expand foreign trade markets and activate the development potential of domestic markets, the China Association of Lighting Industry will continue to provide various services to the industry in 2026. By organizing enterprises to participate in international exhibition activities such as Light + Building to "go out", and by building industry exchange and cooperation platforms such as the China Lighting Industry Standard Quality Conference, China Lighting Industry Conference, and China Road Lighting Forum , we actively promote the industry to build a dual-circulation development pattern of international and domestic markets. Enterprises interested in relevant activities may consult the China Association of Lighting Industry.

The above article originates from the China Association of Lighting Industry, author: China Association of Lighting Industry