LED (Light Emitting Diode) is an energy-efficient lighting technology, i.e., swiftly replacing conventional lighting by offering substantial energy conservation & minimal energy costs. The growing awareness among people about various benefits of LED lights, such as high durability and better light quality than conventionally used lighting solutions, is amplifying their demand and, consequently, instigating manufacturers to expand their production capacities to cater to the burgeoning end-user requirements.
The Brazil LED Lighting Market is expected to grow at a CAGR of around 12% during the forecast period, i.e., 2023-28. Most of the market expansion would be driven by the rapidly growing government focus on the country's infrastructural development, demonstrating a peaking number of construction activities. Additionally, the presence of stringent government regulations encouraging the adoption of energy-efficient lighting & eliminating the use of inefficient lighting is another aspect fueling the demand for LED lighting in Brazil.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Country Covered||Bahia, Rio de Janeiro, Sao Paulo, Rio Grande do Sul, Minas Gerais, Others|
|Key Companies Profiled||Cree Inc., Philips do Brasil Ltda (Now Signify), GE Lighting, OSRAM Comércio de Soluções de Iluminação Ltda., Samsung Electronics of Amazonia Ltda., Panasonic do Brasil Ltda, Vishay Semi-Conductors Inc., ROHM Semiconductor do Brasil, Hitec Industry Co., Limited, Zumtobel Lighting GmbH, Others.|
|Unit Denominations||USD Million/Billion|
Besides, growing awareness about the perks of LED lights like high lumen power, less power consumption, better service life, and no flickering, entwined with the integration of solutions like Wi-Fi, occupancy sensor, & daylighting, among others, into lighting is also attracting substantial consumer base in the country. The same aspect is driving LED lighting sales and stimulating overall market growth. For Instance:
Based on Type:
Of both, Outdoor Lighting is anticipated to demonstrate substantial growth in the Brazil LED Lighting Market during 2023-28. It owes to the rapidly growing infrastructural development projects, such as airports, highways, & public places, promulgating the demand for proper lighting, especially across areas dimness is of high certainty.
Besides, increasing government initiatives to attain net-zero emission by lowering energy consumption is another aspect set to demonstrate a peaking demand for LEDs lighting, especially for applications like street lighting, highways, and more. The same aspect is also emerging as an area of opportunity for the leading players to increase their production & distribution capacities and cater to the mounting demands throughout Brazil.
Based on End-Users:
Here, the commercial sector dominated the Brazil LED Lighting Market with the largest share and the same trend is likely during 2023-28. It attributes to the swift expansion of the commercial sector, demonstrating the growing construction of facilities like hotels, corporate offices, hospitals, and more, always propelling the demand for suitable lighting, and propelling the demand for LED lighting in Brazil.
Besides, since the utilization of lighting is vast in the industry, and people are seeking ways to cut down expenses and electricity bills, the utilization of LED lighting is mounting substantially and stimulating the overall market growth. The same aspect is also generating lucrative opportunities for the leading players to increase their production and distribution capacities and cater to the burgeoning demands.
On the other hand, the residential sector is another prominent end-user of LED lights in Brazil, i.e., emerging as an area of lucrative opportunity for the leading companies operating in the LED lighting market. It owes to the rapidly increasing population and improving economic conditions. It is demonstrating rapid urbanization and the development of the residential sector to habituate people.
The same aspect is also fueling the utilization of LED lighting and stimulating the overall market growth. Nonetheless, the declining prices of LED products in the country are further projecting opportunities for the players to increase their production & distribution capacities and cater to the rapid expansion of the Brazil LED Lighting Market across the residential sector during the forecast period.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Brazil LED Lighting Market is expected to register around 12% CAGR during 2023-28.
A. The presence of stringent government regulations encouraging the adoption of energy-efficient lighting & eliminating the use of inefficient lighting is the prime aspect projected to drive the Brazil LED lighting Market during 2023-28.
A. Cree Inc., Philips do Brasil Ltda (Now Signify), GE Lighting, OSRAM Comércio de Soluções de IluminaçãoLtda., Samsung Electronics of Amazonia Ltda., Panasonic do Brasil Ltda, Vishay Semi-Conductors Inc., ROHM Semiconductor do Brasil, Hitec Industry Co., Limited, and Zumtobel Lighting GmbH are the key companies participating in the Brazil LED Lighting Market.
A. The commercial Sector would continue generating remunerative opportunities for the leading players in the Brazil LED Lighting Market through 2028.