Global Sources, a business-to-business media company, has announced the availability of its latest report titled, ‘China Sourcing Report: Lighting & Electrical’.
The report provides details on almost all the important products such as outdoor and indoor lamps, bulbs and tubes, other electrical fixtures and supplies of lighting and electrical industry in China.
According to the report, the suppliers of lighting and electrical products in China are currently dealing with more energy efficient and ecologically-friendly products in industrial, commercial and residential segments. The range of LED-based products and bulbs supplied by them provide up to 30% savings on energy. The producers are also increasing the range of applications for each such product offered.
According to Livia Yip, the publisher of the report, when most of the key economies all over the world are still continuing with their efforts to recover, almost 93% of the suppliers based in China anticipate double digit growth in sales during 2011 and some even anticipate more than 30% growth. The report indicates a strong growth in CFLs and LED bulbs and fixtures because of the ban on candescent bulbs in a number of countries. The report details that the favorable business conditions in the Asia-Pacific, North America and EU region will continue to make them as the main market for Chinese exporters. Chinese suppliers are also concentrating on up coming markets such as the Middle East, Africa and South and Central America.
The report discloses that nearly 49% of the suppliers will increase the price of the products by 10% in the coming months in order to cover the increasing overheads and risks involved in currency exchanges. The report also indicates that around 30% of the companies are planning to cut down their price to face competition and to have an advantageous edge.
The figures from the customs included in the report depict the buoyancy across the industry. During the 11 month period that ended in November 2010, China exported 21 billion units of lighting fixtures, bulbs, circuit breakers and ballasts valued at around $12.6 billion, which indicates 35% growth in comparison with the 26% growth of the previous year. Findings of the report also indicate that manufacturers remain optimistic about achieving robust growth despite fierce competition.