Reports
Sale
Latin America LED Lighting Market Size, Share, Analysis: By Product: Lamps, Luminaire; By Application: Indoor, Outdoor; By End Use: Residential, Commercial, Industrial, Government, Highway and Roadway, Architectural; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Latin America LED Lighting Market Outlook
The Latin America LED lighting market size was valued at USD 5.60 billion in 2023. The market is further projected to grow at a CAGR of 5.2% between 2024 and 2032, reaching a value of USD 8.88 billion by 2032.
Key Takeaways
- According to the International Energy Agency (IEA), residential LED sales have increased significantly in recent years, rising from around 5% of the market in 2013 to about 50% in 2022.
- As per industry reports, the market is driven by the lower costs of LED lighting, which have made it more accessible to a wider range of consumers.
- The region has made significant progress in access to electricity in recent decades, reaching 97.6% of the population in 2021, which drives the Latin America LED lighting market growth.
- Countries such as China, Brazil, Colombia, Mexico, France, Spain, and Germany have imposed a complete ban on the sale of incandescent lamps to encourage the adoption of LED lights due to their cost-effectiveness and a longer lifespan.
One of the major trends in the market is retrofitting existing lighting systems with LED lighting due to its cost-effectiveness. The most popular types of LED lighting in Latin America are LED lamps and LED luminaires, which are used for both indoor and outdoor lighting purposes.
Moreover, government investments in infrastructure, such as Mexico's investment in improving school infrastructure, contribute to the growth of the LED lighting market. The Chilean government's initiatives to connect Santiago's underground metro system to the airport and construct a 12 km light rail link are also expected to drive the demand for LED lighting in the region. Thus, the commercial sector holds a significant market share due to the growing demand for energy-efficient lighting solutions in commercial applications, such as offices, retail stores, hotels, and restaurants.
Another significant trend in the LED lighting market in Latin America is the integration of lighting and music, as seen in the Philips Hue app's pioneering integration with Spotify. This enhances the overall smart lighting experience. Additionally, the increasing awareness about the benefits of LED lighting, such as long lifespan, low energy consumption, and low maintenance costs, is also contributing to the growth of this segment.
The growing demand for energy-efficient lighting solutions in industrial applications, such as factories, warehouses, and manufacturing units, is driving the growth of industrial segment. The growing demand for energy-efficient lighting solutions in government applications, such as public buildings, street lighting, and traffic signals, is driving the growth of this segment. The highway and roadway sector segment is also witnessing growth due to high demand for LED lighting solutions in street lighting, highways, and bridges.
Market Segmentation
Latin America LED Lighting Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Lamps
- A-Type
- T-Type
- Others
- Luminaire
- Streetlight
- Downlight
- Troffers
- High Bay
- Track Lights
- Suspended Pendants
- Others
Market Breakup by Application
- Indoor
- Outdoor
Market Breakup by End Use
- Residential
- Commercial
- Industrial
- Government
- Highway and Roadway
- Architectural
Market Breakup by Country
- Brazil
- Mexico
- Argentina
- Others
Competitive Landscape
Market players are strategically investing in R&D activities to expand their product lines, improve efficiency, and cater to the evolving needs of consumers seeking cost-effective LED lighting solutions.
- Signify NV
- OSRAM Licht AG
- SMART Global Holdings, Inc.
- Acuity Brands, Inc.
- Eaton Corporation Plc
- EVERLIGHT Electronics Co., Ltd.
- Dialight Plc
- OPPLE Lighting Co., Ltd.
- Green Ray
- SX Group
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global LED Lighting Market Overview
8.1 Key Industry Highlights
8.2 Global LED Lighting Historical Market (2018-2023)
8.3 Global LED Lighting Market Forecast (2024-2032)
8.4 Global LED Lighting Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America LED Lighting Market Overview
9.1 Key Industry Highlights
9.2 Latin America LED Lighting Historical Market (2018-2023)
9.3 Latin America LED Lighting Market Forecast (2024-2032)
10 Latin America LED Lighting Market by Product
10.1 Lamps
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 A-Type
10.1.3.2 T-Type
10.1.3.3 Others
10.2 Luminaire
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Street Light
10.2.3.2 Downlight
10.2.3.3 Troffers
10.2.3.4 High Bay
10.2.3.5 Track Lights
10.2.3.6 Suspended Pendants
10.2.3.7 Others
11 Latin America LED Lighting Market by Application
11.1 Indoor
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Outdoor
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Latin America LED Lighting Market by End Use
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Government
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Highway and Roadway
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Architectural
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Latin America LED Lighting Market by Country
13.1 Brazil
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Argentina
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Signify NV
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 OSRAM Licht AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 SMART Global Holdings, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Acuity Brands, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Eaton Corporation Plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 EVERLIGHT Electronics Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Dialight Plc
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 OPPLE Lighting Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Green Ray
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 SX Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
2. Latin America LED Lighting Market: Key Industry Highlights, 2018 and 2032
3. Latin America LED Lighting Historical Market: Breakup by Product (USD Billion), 2018-2023
4. Latin America LED Lighting Market Forecast: Breakup by Product (USD Billion), 2024-2032
5. Latin America LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Latin America LED Lighting Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Latin America LED Lighting Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. Latin America LED Lighting Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. Latin America LED Lighting Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Latin America LED Lighting Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Latin America LED Lighting Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 5.60 billion.
The market is expected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 8.88 billion by 2032.
The market is expected to grow due to increasing demand for energy-efficient lighting solutions, government initiatives for energy conservation, and growing adoption of smart lighting systems.
Key trends aiding the market expansion include technological advancements in LED chips, declining costs of LED lights, improved performance, government investments, and rising commercial constructions.
Countries considered in the market are Brazil, Mexico, and Argentina, among others.
Different end users in the market are residential, commercial, industrial, government, highway and roadway, and architectural sectors.
Based on product, the market segmentations include lamps (a-type, t-type, among others) and luminaire (streetlight, downlight, troffers, high bay, track lights, suspended pendants, among others.)
Key players in the market are Signify NV, OSRAM Licht AG, SMART Global Holdings, Inc., Acuity Brands, Inc., Eaton Corporation Plc, EVERLIGHT Electronics Co., Ltd., Dialight Plc, OPPLE Lighting Co., Ltd., Green Ray, and SX Group, among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER