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IndexBox has just published a new report: Australia – Solar Cells and Light-Emitting Diodes – Market Analysis, Forecast, Size, Trends and Insights.
The article provides a comprehensive analysis of Australia’s market for solar cells and light-emitting diodes (LEDs). It reports a significant one-year decline in both consumption and imports for 2024, following previous growth, with market values dropping to $838M and $869M respectively. China dominates imports, supplying 89% of volume. A long-term forecast from 2024 to 2035 predicts a decelerating but positive growth trend, with the market projected to reach 71M units and $906M in value by 2035. The report also details export figures, key trade partners, and import/export price trends.
Key Findings
Driven by increasing demand for solar cells and light-emitting diodes in Australia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 71M units by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +0.7% for the period from 2024 to 2035, which is projected to bring the market value to $906M (in nominal wholesale prices) by the end of 2035.
In 2024, consumption of solar cells and light-emitting diodes decreased by -51.3% to 67M units for the first time since 2021, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed measured growth. Solar cells and light-emitting diodes consumption peaked at 137M units in 2023, and then dropped notably in the following year.
The value of the market for solar cells and light-emitting diodes in Australia reduced dramatically to $838M in 2024, falling by -48.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption, however, posted moderate growth. Solar cells and light-emitting diodes consumption peaked at $1.7B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.
In 2024, after two years of growth, there was significant decline in overseas purchases of solar cells and light-emitting diodes, when their volume decreased by -51.5% to 70M units. In general, imports, however, recorded a pronounced increase. The pace of growth was the most pronounced in 2019 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at 145M units in 2023, and then plummeted in the following year.
In value terms, solar cells and light-emitting diodes imports dropped markedly to $869M in 2024. Overall, imports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2017 when imports increased by 111%. Over the period under review, imports attained the peak figure at $1.6B in 2018; however, from 2019 to 2024, imports failed to regain momentum.
In 2024, China (63M units) constituted the largest supplier of solar cells and light-emitting diodes to Australia, with a 89% share of total imports. Moreover, solar cells and light-emitting diodes imports from China exceeded the figures recorded by the second-largest supplier, Singapore (4.3M units), more than tenfold. Malaysia (1.6M units) ranked third in terms of total imports with a 2.2% share.
From 2013 to 2024, the average annual growth rate of volume from China totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+4.8% per year) and Malaysia (+1.8% per year).
In value terms, China ($815M) constituted the largest supplier of solar cells and light-emitting diodes to Australia, comprising 94% of total imports. The second position in the ranking was taken by Singapore ($16M), with a 1.8% share of total imports. It was followed by Malaysia, with a 0.4% share.
From 2013 to 2024, the average annual growth rate of value from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-4.9% per year) and Malaysia (-3.6% per year).
The average import price for solar cells and light-emitting diodes stood at $12 per unit in 2024, surging by 26% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 89%. Over the period under review, average import prices reached the peak figure at $29 per unit in 2018; however, from 2019 to 2024, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($13 per unit), while the price for Hong Kong SAR ($2.1 per unit) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.
In 2024, shipments abroad of solar cells and light-emitting diodes decreased by -54.1% to 3.8M units for the first time since 2020, thus ending a three-year rising trend. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2022 when exports increased by 209% against the previous year. Over the period under review, the exports hit record highs at 8.2M units in 2023, and then dropped markedly in the following year.
In value terms, solar cells and light-emitting diodes exports fell to $18M in 2024. Over the period under review, exports saw a pronounced curtailment. The growth pace was the most rapid in 2022 when exports increased by 108%. As a result, the exports attained the peak of $41M. From 2023 to 2024, the growth of the exports failed to regain momentum.
New Zealand (1.8M units) was the main destination for solar cells and light-emitting diodes exports from Australia, accounting for a 47% share of total exports. Moreover, solar cells and light-emitting diodes exports to New Zealand exceeded the volume sent to the second major destination, China (878K units), twofold. The third position in this ranking was held by Singapore (261K units), with a 6.9% share.
From 2013 to 2024, the average annual rate of growth in terms of volume to New Zealand stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+9.6% per year) and Singapore (+14.7% per year).
In value terms, New Zealand ($2.7M) emerged as the key foreign market for solar cells and light-emitting diodes exports from Australia, comprising 15% of total exports. The second position in the ranking was taken by China ($1.3M), with a 7.6% share of total exports. It was followed by the United States, with a 5.8% share.
From 2013 to 2024, the average annual growth rate of value to New Zealand stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.2% per year) and the United States (-13.1% per year).
The average export price for solar cells and light-emitting diodes stood at $4.7 per unit in 2024, surging by 89% against the previous year. Overall, the export price, however, saw a abrupt slump. The export price peaked at $31 per unit in 2016; however, from 2017 to 2024, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($15 per unit), while the average price for exports to Malaysia ($1.4 per unit) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+7.3%), while the prices for the other major destinations experienced a decline.
Source: IndexBox Market Intelligence Platform
This report provides a comprehensive view of the solar cells and light-emitting diodes industry in Australia, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.
Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the solar cells and light-emitting diodes landscape in Australia.
The report combines market sizing with trade intelligence and price analytics for Australia. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts.
This report provides a consistent view of market size, trade balance, prices, and per-capita indicators for Australia. The profile highlights demand structure and trade position, enabling benchmarking against regional and global peers.
The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.
All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.
The forecast horizon extends to 2035 and is based on a structured model that links solar cells and light-emitting diodes demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts in Australia.
Each projection is built from national historical patterns and the broader regional context, allowing the report to show where growth is concentrated and where risks are elevated.
Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.
Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.
This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of solar cells and light-emitting diodes dynamics in Australia.
The market size aggregates consumption and trade data, presented in both value and volume terms.
The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.
Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.
The report benchmarks market size, trade balance, prices, and per-capita indicators for Australia.
Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.
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