Georgia Led Tube Light Market Shipment Analysis
Georgia Led Tube Light Market registered a growth of 119.81% in value shipments in 2022 as compared to 2021 and an increase of 35.31% CAGR in 2022 over a period of 2017. In Led Tube Light Market Georgia is becoming less competitive as HHI index in 2022 was 4763 while in 2017 it was 2554. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Georgia has reportedly relied more on imports to meet its growing demand in Led Tube Light Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Led Tube Light Market in 2022 was 1.67 while in 2017 it was 876.06. China, Thailand, Lithuania, United Arab Emirates (UAE) and Germany were among the top players of the market in 2022, where China acquired the largest market share of 65.65% with a shipment value of 7.84 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 46.05% with the shipment value of 0.41 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
