Anticipating a vigorous market in the next 12 months, China's lighting and electrical suppliers are focusing on 'green' products to attract orders, according to Global Sources' (Nasdaq: GSOL) China Sourcing Report: Lighting & Electricals.
The Report, which covers light bulbs and tubes, indoor and outdoor lamps, and electrical fixtures and supplies, reveals that companies are also increasing their output of CFLs (Compact Fluorescent Lamp) and LED lights to stay ahead of the competition as the global economy recovers.
With ecological awareness growing among consumers and stricter environmental standards put in place in various markets, suppliers are aiming for greater energy efficiency. Many are also switching to materials and components safer for the environment, as well as human health, to lower the carbon footprint of their models.
"CFL shipments are one area rebounding from the economic crisis, as legislation banning incandescent bulbs is fueling demand," said Livia Yip, Publisher of the Report. "We are seeing LED lighting as another growth segment. Demand is expected to increase as technological advancements reduce manufacturers' costs and result in lower product prices."
China manufacturers are also enhancing their R&D capability to gain an edge. "As competition heats up, suppliers are pouring more funds into product development to support sales," Yip said.
Among surveyed suppliers of lighting and electrical products:
-- 58 percent plan to develop models with greater energy efficiency;
-- 18 percent are improving on product durability;
-- 11 percent are emphasizing designs with better aesthetics;
-- 8 percent are adopting environment-friendly materials; and
-- 5 percent are focusing on RoHS certification.
Strong export forecast
China's lighting and electricals industry has an optimistic outlook for 2010, with suppliers looking forward to stronger demand in the coming months.
Nearly all (98 percent) of surveyed suppliers expected a robust market, with well over half anticipating their overseas revenue to grow by at least 20 percent. One-third of respondents see increases of between 10 to 20 percent.
The U.S. and EU are still the major export destinations, with 72 percent of surveyed suppliers targeting these regions.
Other suppliers are planning to emphasize on emerging markets, including the Asia Pacific region, the Middle East and non-European countries. These destinations have gained importance after the financial crisis hit hard the two aforementioned markets and subsequently held back demand.
Supplier profiles, price forecasts and the latest lighting and electricals for export
The 209-page China Sourcing Report: Lighting & Electricals provides detailed profiles of 61 suppliers with verified manufacturing and export credentials, plus contact details of 26 more suppliers. It also includes a Product Gallery featuring 279 of the most popular export models, with key specifications and full-color pictures.
China Sourcing Reports are part of Global Sources' sourcing and product information services. These include Global Sources Online (http://www.globalsources.com ), China Sourcing Fairs (http://www.chinasourcingfair.com ), Private Sourcing Events (http://www.PrivateSourcingEvents.com ) and Global Sources monthly magazines (http://www.globalsources.com/SITE/MAGAZINES.HTM ).
For more information about Global Sources' products and services that connect quality buyers with verified suppliers, visit http://www.corporate.globalsources.com .
The China Sourcing Report: Lighting & Electricals is available for purchase at http://www.chinasourcingreports.com/lightingelectricalsreport .
Free information about China lighting & electrical suppliers can be found at http://www.chinasuppliers.globalsources.com/china-suppliers/Lighting.htm .
About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 888,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.5 million products and more than 253,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 80 sourcing research reports and 17 specialized trade shows which run 55 times a year across 10 cities.
Suppliers receive more than 136 million sales leads annually from buyers through Global Sources Online (http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for 39 years. Global Sources' network covers more than 60 cities worldwide. In mainland China, Global Sources has about 2,500 team members in more than 40 locations, and a community of over 1 million registered online users and magazine readers for its Chinese-language media.