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South America LED Lighting Market Size

The South America LED Lighting Market is projected to experience significant growth over the forecast period, with the commercial segment anticipated to dominate in terms of market size. The market's expansion is driven by the recovery of the economy and increased construction activities, which boost the demand for LED lighting. The impact of the COVID-19 pandemic on commercial spaces has led to a need for refurbishment and adaptation, further contributing to the market's growth. Additionally, rising disposable incomes in countries like Brazil and Argentina enhance consumer purchasing power, facilitating greater expenditure on retail goods and, consequently, LED lighting. Major infrastructure projects, such as those in Chile, also contribute to the increased demand for LED lighting solutions in the region.

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Market Size of south america led lighting Industry

South America LED Lighting Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 1.84 Billion
svg icon Market Size (2030) USD 2.51 Billion
svg icon Largest Share by Indoor Lighting Commercial
svg icon CAGR (2024 - 2030) 5.35 %
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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South America LED Lighting Market Analysis

The South America LED Lighting Market size is estimated at 1.84 billion USD in 2024, and is expected to reach 2.51 billion USD by 2030, growing at a CAGR of 5.35% during the forecast period (2024-2030).

1.84 Billion

Market Size in 2024 (USD)

2.51 Billion

Market Size in 2030 (USD)

3.26 %

CAGR (2017-2023)

5.35 %

CAGR (2024-2030)

Largest Segment by Automotive Utility Lighting

41.30 %

value share, Headlights, 2023

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The total sales of LEDs were expected to reach USD 17.5 million by 2023. Passenger cars have the majority of share due to growing concerns over road accidents.

Largest Segment by Automotive Vehicle Lighting

51.55 %

value share, Passenger Cars, 2023

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The growing trend of EVs drives this category of demand. EV sales in Brazil reached almost 35,000 in 2021, a 77% increase year over year. This increases the use of LED lights in the region.

Largest Segment by Indoor Lighting

72.41 %

value share, Commercial, 2023

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The commercial real estate industry had a positive outlook for 2022 despite COVID-19. With the emergence of property technology, the commercial real estate industry is on the rise.

Largest Segment by Outdoor Lighting

59.48 %

value share, Streets and Roadways, 2023

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The total sales of LED were expected to reach 622.8 million by 2023. The roadway network expansion is expected to create more need for outdoor LEDs in the region.

Leading Market Player

9.62 %

market share, Signify (Philips), 2022

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In August 2022, Signify introduced an A-class LED tube, which consumes 60% less energy than a standard Philips LED.

Increasing disposable incomes, government investments, and rising commercial constructions to drive the growth of the regional LED lighting market

  • In terms of volume and value, the commercial segment was expected to hold the largest share in 2023, followed by residential, industrial and warehouse, and agricultural lighting. The South American indoor commercial market is expected to grow over the coming years. In 2020, the COVID-19 pandemic had a major impact on the commercial construction industry as offices and commercial spaces had to be closed and later needed to be refurbished or adapted to the new reality. The market segment that was hit badly by the pandemic was office and commercial construction, as demand for such spaces declined. However, further developments are occurring in the South American market as the economy regains strength. Monthly income in Brazil increased to USD 4,779.7 in December 2017, up from USD 4,272.3 in December 2016. In Brazil and Argentina, disposable income is increasing, which, in turn, increases the purchasing power of individuals, enabling them to spend more money on retail goods.
  • Additionally, Mexico invested more than USD 100 million in improving school infrastructure in Puebla in 2017. Increased construction activity in the country has increased the use of LED lighting. The growth will ultimately lead to an increase in the number of buildings and an increase in the use of LED lighting fixtures.
  • In addition, the Chilean government had set a goal of opening public tenders for 14 concession contracts worth a total of USD 4.6 billion in 2023. The project includes a USD 398 million airport light rail and the construction of a 12 km light rail linking the international airport with Santiago. The effort will connect Santiago's underground metro system to the airport. These developments in the commercial sector are demanding greater use of LED lighting in the region.
South America LED Lighting Market

South America LED Lighting Industry Segmentation

Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting. Public Places, Streets and Roadways, Others are covered as segments by Outdoor Lighting. Daytime Running Lights (DRL), Directional Signal Lights, Headlights, Reverse Light, Stop Light, Tail Light, Others are covered as segments by Automotive Utility Lighting. 2 Wheelers, Commercial Vehicles, Passenger Cars are covered as segments by Automotive Vehicle Lighting.

  • In terms of volume and value, the commercial segment was expected to hold the largest share in 2023, followed by residential, industrial and warehouse, and agricultural lighting. The South American indoor commercial market is expected to grow over the coming years. In 2020, the COVID-19 pandemic had a major impact on the commercial construction industry as offices and commercial spaces had to be closed and later needed to be refurbished or adapted to the new reality. The market segment that was hit badly by the pandemic was office and commercial construction, as demand for such spaces declined. However, further developments are occurring in the South American market as the economy regains strength. Monthly income in Brazil increased to USD 4,779.7 in December 2017, up from USD 4,272.3 in December 2016. In Brazil and Argentina, disposable income is increasing, which, in turn, increases the purchasing power of individuals, enabling them to spend more money on retail goods.
  • Additionally, Mexico invested more than USD 100 million in improving school infrastructure in Puebla in 2017. Increased construction activity in the country has increased the use of LED lighting. The growth will ultimately lead to an increase in the number of buildings and an increase in the use of LED lighting fixtures.
  • In addition, the Chilean government had set a goal of opening public tenders for 14 concession contracts worth a total of USD 4.6 billion in 2023. The project includes a USD 398 million airport light rail and the construction of a 12 km light rail linking the international airport with Santiago. The effort will connect Santiago's underground metro system to the airport. These developments in the commercial sector are demanding greater use of LED lighting in the region.
Indoor Lighting
Agricultural Lighting
Commercial
Office
Retail
Others
Industrial and Warehouse
Residential
Outdoor Lighting
Public Places
Streets and Roadways
Others
Automotive Utility Lighting
Daytime Running Lights (DRL)
Directional Signal Lights
Headlights
Reverse Light
Stop Light
Tail Light
Others
Automotive Vehicle Lighting
2 Wheelers
Commercial Vehicles
Passenger Cars
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South America LED Lighting Market Size Summary

The South America LED Lighting Market is poised for significant growth, driven by increasing urbanization, rising disposable incomes, and expanding commercial and residential construction activities. The market is characterized by a diverse range of applications, with the commercial segment expected to dominate in terms of both volume and value. The recovery of the economy post-COVID-19 has spurred developments in the commercial sector, necessitating the adoption of LED lighting solutions. Governments in the region are also investing in infrastructure projects, such as light rail systems and airport connections, which further boost the demand for LED lighting. The growing urban population in Latin America is increasing the demand for residential properties, thereby enhancing the market potential for LED lighting in homes.

In addition to commercial and residential growth, the automotive industry in South America is witnessing a rise in electric vehicle sales, which is expected to drive the demand for LED lighting in vehicles. The market is fragmented, with key players like Cree LED, EGLO Leuchten, LEDVANCE, OSRAM, and Signify leading the charge in innovation and product development. These companies are introducing advanced lighting solutions that offer high efficiency and quality, catering to various sectors including horticulture and industrial applications. As the region continues to develop economically and socially, the penetration of LED lighting is anticipated to increase, supported by government initiatives and private sector investments in infrastructure and housing.

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South America LED Lighting Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Indoor Lighting

      1. 1.1.1 Agricultural Lighting

      2. 1.1.2 Commercial

        1. 1.1.2.1 Office

        2. 1.1.2.2 Retail

        3. 1.1.2.3 Others

      3. 1.1.3 Industrial and Warehouse

      4. 1.1.4 Residential

    2. 1.2 Outdoor Lighting

      1. 1.2.1 Public Places

      2. 1.2.2 Streets and Roadways

      3. 1.2.3 Others

    3. 1.3 Automotive Utility Lighting

      1. 1.3.1 Daytime Running Lights (DRL)

      2. 1.3.2 Directional Signal Lights

      3. 1.3.3 Headlights

      4. 1.3.4 Reverse Light

      5. 1.3.5 Stop Light

      6. 1.3.6 Tail Light

      7. 1.3.7 Others

    4. 1.4 Automotive Vehicle Lighting

      1. 1.4.1 2 Wheelers

      2. 1.4.2 Commercial Vehicles

      3. 1.4.3 Passenger Cars

South America LED Lighting Market Size FAQs

The South America LED Lighting Market size is expected to reach USD 1.84 billion in 2024 and grow at a CAGR of 5.35% to reach USD 2.51 billion by 2030.

In 2024, the South America LED Lighting Market size is expected to reach USD 1.84 billion.

South America LED Lighting Market Report Snapshots

South America LED Lighting Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030