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Mexico Lighting Market Size, Share, Forecast: By Type: LED, Fluorescent, Incandescent, Halogen; By Product: Bulbs, Streetlights, Downlights, Tube Lights, Flood Lights, Emergency Lights, Others; By Application: Residential, Commercial, Public, Industrial; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Mexico Lighting Market Outlook
The Mexico lighting market size reached a value of approximately USD 2.7 billion in 2022. The market is further projected to grow at a CAGR of 7.80% between 2023 and 2028, reaching a value of USD 4.19 billion by 2028.
Key Trends in the Market
Lighting refers to the deliberate arrangement or usage of lights in homes, streets, buildings, and shopping complexes, among others, for aesthetic and practical purposes. The various sources of lighting include tube lights, emergency lights, streetlights, and bulbs, among others.
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- Adoption of LED lights by home gardening enthusiasts is rising rapidly as they aid in the growth of various types of plants. LED lights (especially broad-spectrum LED sets) provide the optimum wavelengths required by plants for adequate chlorophyll production, for instance, blue light increases chlorophyll production, leading to healthier foliage.
- Advancements in the lighting technology, such as the development of blue LEDs, wireless lighting and LiFi, are further enhancing the growth of the Mexico lighting market. LiFi creates a light communication system, allowing the indoor spaces to transform into efficient places.
- The government of Mexico is heavily investing in the development and maintenance of the public infrastructure of the country including, public buildings and parks among others, which in turn, is boosting the requirement for lighting solutions in the country.
Market Analysis
Based on type, the market is segmented into LED, fluorescent, incandescent, and halogen. On the basis of product, the market is divided into bulbs, streetlights, downlights, tube lights, flood lights, and emergency lights, among others. By application, the market is categorised into residential, commercial, public, and industrial. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others. Based on region, the market is divided into Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Mexico lighting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Signify Holdings BV
- OSRAM GmbH
- Eaton Corporation
- Panasonic Holdings Corporation
- Savant Systems, Inc.
- OPPLE Lighting Co., Ltd
- Acuity Brands Inc.
- Hubbell Incorporated
- Others
Market Share by Type
The LED lighting segment accounted for a large share of the Mexico lighting market owing to its increasing applications in various sectors and its low cost. Its ability to withstand frequent switching and instant lighting along with low voltage operation capability has enhanced its demand and usage. Further, the design flexibility, directionality, dimming capabilities, and improved environmental performance are major factors boosting the adoption of LEDs in Mexico. LED lighting solutions are capable of meeting bright lighting requirements while consuming less energy, which helps lower energy bills and reduce environmental impact.
Market Share by Application
The residential segment is expected to account for a significant portion of the market owing to the growing demand for ambient and aesthetic lighting for homes and indoor spaces. The rapid urbanisation and the growing construction of new homes are further boosting the utilisation of lighting. Also, the rising trend of work from home is encouraging people to use good and bright lighting solutions at homes for improving concentration and work efficiency, adding on to the lighting demand in Mexico.
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Additionally, there is an increase in the development of commercial buildings and other public infrastructure in Mexico. The commercial segment is thus anticipated to acquire a significant share of the Mexico lighting market over the forecast period, with the rising demand for decorative and energy-efficient lighting solutions.
Competitive Landscape
Signify Holdings BV was founded in 1938 and is headquartered in Eindhoven, Netherlands. The company manufactures and sells appliances, electronics, and electrical components, providing connected lighting systems and data-enabled services to its customers globally.
Eaton Corporation was established in 1911 and has its headquarters located in Dublin, Ireland. The manufacturing company operates through segments including electrical products, aerospace, e-mobility, and electrical systems and services, among others.
Other Mexico lighting market players include OSRAM GmbH, Panasonic Holdings Corporation, Savant Systems, Inc., OPPLE Lighting Co., Ltd, Acuity Brands Inc., and Hubbell Incorporated, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market 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 Mexico Lighting Market Overview
8.1 Key Industry Highlights
8.2 Mexico Lighting Historical Market (2018-2022)
8.3 Mexico Lighting Market Forecast (2023-2028)
9 Mexico Lighting Market by Type
9.1 LED
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Fluorescent
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Incandescent
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Halogen
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Mexico Lighting Market by Product
10.1 Bulbs
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Streetlights
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Downlights
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Tube Lights
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Flood Lights
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Emergency Lights
10.6.1 Historical Trend (2018-2022)
10.6.2 Forecast Trend (2023-2028)
10.7 Others
11 Mexico Lighting Market by Application
11.1 Residential
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Commercial
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Public
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Industrial
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
12 Mexico Lighting Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Speciality Stores
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Online
12.4.1 Historical Trend (2018-2022)
12.4.2 Forecast Trend (2023-2028)
12.5 Others
13 Mexico Lighting Market by Region
13.1 Baja California
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Northern Mexico
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 The Bajío
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 Central Mexico
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Pacific Coast
13.5.1 Historical Trend (2018-2022)
13.5.2 Forecast Trend (2023-2028)
13.6 Yucatan Peninsula
13.6.1 Historical Trend (2018-2022)
13.6.2 Forecast Trend (2023-2028)
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 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Signify Holdings BV
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 GmbH
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 Eaton Corporation
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 Panasonic Holdings Corporation
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 Savant Systems, Inc.
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 OPPLE Lighting 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 Acuity Brands Inc.
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 Hubbell Incorporated
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 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Lighting Market: Key Industry Highlights, 2018 and 2028
2. Mexico Lighting Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Mexico Lighting Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Mexico Lighting Historical Market: Breakup by Product (USD Billion), 2018-2022
5. Mexico Lighting Market Forecast: Breakup by Product (USD Billion), 2023-2028
6. Mexico Lighting Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Mexico Lighting Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Mexico Lighting Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
9. Mexico Lighting Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
10. Mexico Lighting Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Mexico Lighting Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. Mexico Lighting Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 2.7 billion in 2022.
The market is projected to grow at a CAGR of 7.80% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 4.19 billion by 2028.
The key factors diving the market growth are the growing urbanisation, rising energy demands, increasing investments towards infrastructural development, and introduction of novel lighting solutions by manufacturers.
The key trends of the market are the increased adoption by home gardeners, advancements in the lighting technology, and growing demand for energy-efficient lighting solutions like LEDs in Mexico.
The various products in the market are bulbs, streetlights, downlights, tube lights, flood lights, and emergency lights, among others.
The major regions in the market are Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key players in the market are Signify Holdings BV, OSRAM GmbH, Eaton Corporation, Panasonic Holdings Corporation, Savant Systems, Inc., OPPLE Lighting Co., Ltd, Acuity Brands Inc., and Hubbell Incorporated, among others.
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