By GreenTech Lead Team : The
impending ban on the utilization of incandescent bulbs in most of the Latin
American nations will considerably boost the LED (Light Emitting Diode) and
florescent lighting market. Post 2015, LED lighting applications are expected
to witness the highest market share in overall lighting market.
According to Transparency Market Research,
Latin America Energy-Efficient Lamps Market is estimated to be
worth $937.8million in 2011 and expected to reach $1,659.9million in
2015 at a CAGR of 15.3 percent from 2011 to 2015.
Ballasts market in Latin
America is expected to grow at a CAGR of 17.3 percent from 2011 to 2015.
LED (Light Emitting Diode) Driver Module market is expected to
reach $161.4 million in 2015.
In 2011, South
America accounted for
69.0 per cent of energy-efficient lighting market in Latin American region.
South American lighting market is expected
to reach $1,145.3 million in 2015, growing at a CAGR of 14.5 percent
from 2011 to 2015. Mexico and Brazil are the leading markets in the
overall Latin American region. Mexico is expected to be the second
largest energy-efficient lighting market at $365.2 million in 2015.
The report, “Energy Efficient Lamps Market
and Ballasts Market in Latin America (2010 – 2015)” forecasts
the unit sales for ballasts in Latin America region will grow at a
CAGR of 17.3 percent from 2011 to 2015.The Latin America electronic
Fluorescent ballasts market is expected to reach $124.8 million in
2015 from $81.3 million in 2011 at a CAGR of 11.3 percent for the
same period.
Lighting accounts for huge amount of the
electricity bill in the Latin America, which makes it full of potential
for electricity and cost savings. LEDs have been revealed to be the most
efficient and to last longer than fluorescent and HID lighting source in the
market, making them the next logical step. LEDs are supposed to be the market
leader in energy efficient lighting solutions in near future.
Transparency Market Research finds
that the growth of industrial and office applications of LED lighting will be
slower. This is mainly because of the existing high penetration of fluorescent
lamps in this region and cost-competitive attribute of CFLs and linear
fluorescent. LED lighting market is relatively very small in Latin American
nations in comparison to other lighting technologies, however growth prospect
is huge.
CFL (Compact Fluorescent lamp) is the
second fastest growing market in Latin America with a CAGR of 16.4
percent from 2011 to 2015.
