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According to the MarkNtel Advisors’ research report titled “Brazil LED Lighting Market Analysis, 2020”, the LED Lighting market is anticipated to register a CAGR of around 12% during 2020-25. The installation of LED lights in the cities have positively impacted the electricity saving. Therefore, the Brazil government is increasingly replacing conventional lights with LED lights. In 2019, Belo Horizonte experienced 50% of electricity cost saving through upgrading 182,000 streetlights with new LEDs. The up-gradation project comes under Brazil’s first public lighting public-private partnership between Belo Horizonte Iluminaçao Publica (BHIP) and Signify.
In 2019, the commercial sector acquired the highest market share in the Brazil LED Lighting market. The maximum share in this sector is attributed to the gradual growth in the development of the corporate sector, hospitality sector, etc. Brazil's residential market segment has been witnessing an uptick after an economic depression for a couple of years in the beginning of 2017. The positive scenario is marked by the sale of 94,221 properties in Brazil in 2017, against 86,140 in 2016.
The key players with a substantial market share in the Brazil LED Lighting market include Cree, Philips, GE Lighting, OSRAM, Samsung, etc. The companies are progressively providing LED lighting for numerous events organized in the country to gain an advantage over their competitors. In 2014, Osram offered LED luminaires to the Sao Paulo Stadium for World Cup 2014. In 2016, Philips completed four major public lighting projects for Rio de Janeiro. These projects have a strong impact on the growth of Brazil's LED Lighting market.
