South America Outdoor LED Lighting Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 1.09 Billion |
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Market Size (2030) | USD 1.38 Billion |
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Largest Share by Outdoor Lighting | Streets and Roadways |
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CAGR (2024 - 2030) | 4.03 % |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
South America Outdoor LED Lighting Market Analysis
The South America Outdoor LED Lighting Market size is estimated at 1.09 billion USD in 2024, and is expected to reach 1.38 billion USD by 2030, growing at a CAGR of 4.03% during the forecast period (2024-2030).
1.09 Billion
Market Size in 2024 (USD)
1.38 Billion
Market Size in 2030 (USD)
1.45 %
CAGR (2017-2023)
4.03 %
CAGR (2024-2030)
Largest Segment by Outdoor Lighting
59.48 %
value share, Streets and Roadways, 2023
The sales of LED in this category were expected to reach 622.8 million by 2023. All South American countries are increasing trucking as a percentage of the volume of goods transported by road.
Fastest-growing Segment by Outdoor Lighting
4.39 %
Projected CAGR, Public Places, 2024-2030
The volume of LED penetration was expected to reach 62.7 million by 2023. In the capital of Peru, is the Estadio Monumental "U", the largest stadium in South America.
First Leading Market Player
4.66 %
market share, Signify Holding (Philips), 2022
Signify Holding (Philips) has the highest market share in this region because of its new product developments. In April 2022, Signify launched High-Performance Lighting Solutions "Philips Skyline e-Way" For Safer Highways.
Second Leading Market Player
2.73 %
market share, Cree LED (SMART Global Holdings, Inc.), Inc.)
Cree LED has the 2nd highest market share in the region. In March 2023, it introduced the J Series 5050C E Class LEDs, with the highest efficiency of high-power LEDs at 228 lumens per watt, typically at 4000K, 70 CRI, and 1W.
Third Leading Market Player
2.56 %
market share, LEDVANCE GmbH (MLS Co Ltd), 2022
LEDVANCE GmbH was the 3rd largest market player, accounting for 2.6% of the market share in 2022. The company has a presence in Argentina, Bolivia, Brazil, Chile, Columbia, Costa Rica, Cuba, Ecuador, etc., in South America.
Expansion of roads, new amusement parks, and increasing number of retail stores drive the market growth
- In terms of value share, in 2023, streets and roadways (S&R) accounted for the majority of the share (59.5%), followed by public places (40.5%) and others. The market share is expected to witness a small reduction in S&R and a gain in public places in the coming years. To limit the spread of COVID-19, public places such as stadiums, pools, beaches, and forts were shut down throughout the region. There has been a halt in the construction of parks and stadium facilities. Further, in 2021, South America relaxed COVID-19 restrictions. Brazil aimed to invest more than USD 60 billion in highways by 2023 and 2026. The auctions are expected to attract approximately USD 20 billion in investments for four highways, two in Parana, one in Minas Gerais, and one in Rio de Janeiro. These instances are expected to increase highway lighting, thus contributing to the LED market in the region.
- In terms of volume share, in 2023, public places accounted for the majority of the share (65.4%), followed by (S&R) (34.6%) and others. The market share is expected to be a small reduction in S&R and a gain in public places in the coming years. With the opening of a new attraction in 2023 at Beto Carrero World in Brazil, the iconic Nerf brand will have its first theme park in its 53 years of existence.
- The demand for parking lots is also increasing with the rise of retail stores across the region. For instance, in July 2023, Fashion retailer H&M planned to launch stores and online trade in Brazil by 2025. H&M has partnered with Dorben Group, one of the prominent retailers in 10 Central and South American countries, to expand its presence in Brazil. Such advancements in the market are expected to fuel the demand for outdoor LEDs in the coming years.
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South America Outdoor LED Lighting Market Trends
Renovation and construction of new sports stadiums to facilitate the growth of LED lighting usage
- The number of stadiums in South America is expected to witness a growth from 182 units in 2022 to 212 units in 2029, exhibiting a CAGR of 2.2%. In recent years, there have been several developments in the regional sports industry. For instance, Boca Juniors renovated the floodlighting for The Alberto J. Armando football stadium in Buenos Aires ahead of the 2020 Copa Libertadores and the Copa America. About 248 Thorn Lighting Altis 3-brick floodlights are used across the stadium in the new design. A stadium with EDGE accreditation, the new Estudiantes de La Plata Stadium project has a total size of around 290,000 sq. ft. Its doors first opened in November 2019. The stadium has incorporated certain sustainable standards into the EDGE rules, including the use of interior and external LED lighting throughout the project. Such factors support the expansion of the regional LED market.
- For an event in 2015, the Chilean Minister of Sports invested USD 156 million in new stadium construction and USD 113 million in stadium renovations. The nation is currently providing funding for stadium development and investment opportunities for a variety of sports. For instance, The San Carlos de Apoquindo stadium in Santiago, Chile, is being renovated by IDOM. Work is expected to wrap up in the second half of 2024. Mexico confirmed the Yucatán sports stadium in 2020, which was scheduled to open in 2023 and be certified by LEED (Leadership in Energy and Environmental Design) as a sustainable building. One of the upcoming sports events in the region is the Pan-American Games in Chile in 2024. These developments will drive the growth of the South American outdoor LED lighting market over the coming years.
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Automobile production to boost the LED lighting market
- With 656 million people as of 2021, Latin America made up around 8.37% of the world's population. The population of Latin America increased by almost 0.9% in 2022 compared to 2021. Compared to 2019, the total fertility rate in Latin America and the Caribbean did not significantly change in 2020 and stayed at about 1.99 children per woman. Many people are relocating to metropolitan regions as the population grows in search of better employment and educational possibilities. The demand for residential properties in Latin American cities is rising as a result of the growing urban population. Some Latin American governments have taken action to support pro-poor urban infrastructure, particularly with respect to housing. The increase in the demand for residential properties will increase the demand for LED in South America.
- In South America, a total of 9.63 million cars were produced in 2022, and that number is projected to rise to 9.83 million in 2023. The number of EVs is rising in Latin America. For instance, a rise in the sales of electric vehicles is being driven by premium car purchasers in Latin America. In the region, about 25,000 EVs were sold in 2021, more than twice as many as were sold in 2020. With regional differences, EV sales in 2021 were 0.7% of all auto sales from Mexico to Chile. The country with the biggest sales (13,000 units) and the highest percentage (2.7% of all sold automobiles had a plug) was Costa Rica. As a result, it is predicted that the demand for LED lighting is expected to increase in the automotive industry.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- An increase in commercial vehicle production and incorporation of charging stations corresponds to the growth of LED lights
- The LED lighting market is propelled by increasing partnerships and government initiatives to increase lighting electricity consumption
- Government initiatives to promote energy-efficient LED lights and ban conventional bulbs in the region driving the market
- Government programs to support the growth of LED lighting in the region
- Increasing population and affordable housing plans in the region to drive the growth of the LED lighting market
South America Outdoor LED Lighting Industry Overview
The South America Outdoor LED Lighting Market is fragmented, with the top five companies occupying 13.07%. The major players in this market are Cree LED (SMART Global Holdings, Inc.), EGLO Leuchten GmbH, LEDVANCE GmbH (MLS Co Ltd), OPPLE Lighting Co., Ltd and Signify Holding (Philips) (sorted alphabetically).
South America Outdoor LED Lighting Market Leaders
Cree LED (SMART Global Holdings, Inc.)
EGLO Leuchten GmbH
LEDVANCE GmbH (MLS Co Ltd)
OPPLE Lighting Co., Ltd
Signify Holding (Philips)
Other important companies include ACUITY BRANDS, INC., ams-OSRAM AG, Current Lighting Solutions, LLC., Dialight PLC, NVC INTERNATIONAL HOLDINGS LIMITED.
*Disclaimer: Major Players sorted in alphabetical order.
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South America Outdoor LED Lighting Market News
- May 2023: Cyclone Lighting announced the debut of its Elencia luminaire. Outdoor post-top lighting has an upscale look thanks to high-performance optics and revised, modern lantern style.
- March 2023: Cree LED introduced its J Series 5050C E Class LEDs, which have the best efficacy for high-power LEDs: 228 lumens per watt (LPW), typical at 4000K, 70 CRI, and 1W. At the same efficacy level, the new J Series LEDs produce up to three times the light output of competitive 5050 LEDs.
- December 2022: Cree LED, Inc. and Star Headlight & Lantern Co., Inc. announced a mutually advantageous settlement related to the parties' patent infringement dispute. Cree LED gave Star a limited license to certain Cree LED patents covering LED components as part of the settlement.
Free with this Report
We provide a complimentary and exhaustive set of data points on the country and regional level metrics that present the fundamental structure of the industry. Presented in the form of 40+ free charts, the sections cover difficult to find data on various countries on Automotive Production, Lighting Electricity Consumption, Road Network, Number of Stadiums, Number of Charging Stations among others.
South America Outdoor LED Lighting Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. Per Capita Income
2.3. Total Import Of LEDs
2.4. Lighting Electricity Consumption
2.5. # Of Households
2.6. LED Penetration
2.7. # Of Stadiums
2.8. Regulatory Framework
2.8.1. Argentina
2.8.2. Brazil
2.9. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Outdoor Lighting
3.1.1. Public Places
3.1.2. Streets and Roadways
3.1.3. Others
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
4.4.1. ACUITY BRANDS, INC.
4.4.2. ams-OSRAM AG
4.4.3. Cree LED (SMART Global Holdings, Inc.)
4.4.4. Current Lighting Solutions, LLC.
4.4.5. Dialight PLC
4.4.6. EGLO Leuchten GmbH
4.4.7. LEDVANCE GmbH (MLS Co Ltd)
4.4.8. NVC INTERNATIONAL HOLDINGS LIMITED
4.4.9. OPPLE Lighting Co., Ltd
4.4.10. Signify Holding (Philips)
5. KEY STRATEGIC QUESTIONS FOR LED CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- HUMAN POPULATION IN MILLION, NUMBERS, SOUTH AMERICA, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, SOUTH AMERICA, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, SOUTH AMERICA, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, SOUTH AMERICA, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, SOUTH AMERICA, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, SOUTH AMERICA, 2017 - 2030
- Figure 7:
- COUNT OF STADIUMS, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 8:
- VOLUME SALES OF SOUTH AMERICA OUTDOOR LED LIGHTING MARKET, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 9:
- VALUE SALES OF SOUTH AMERICA OUTDOOR LED LIGHTING MARKET, USD, SOUTH AMERICA, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY OUTDOOR LIGHTING, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY OUTDOOR LIGHTING, USD, SOUTH AMERICA, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, SOUTH AMERICA, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, SOUTH AMERICA, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN PUBLIC PLACES, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN PUBLIC PLACES, USD, SOUTH AMERICA, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES IN STREETS AND ROADWAYS, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES IN STREETS AND ROADWAYS, USD, SOUTH AMERICA, 2017 - 2030
- Figure 18:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, SOUTH AMERICA, 2017 - 2030
- Figure 19:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, SOUTH AMERICA, 2017 - 2030
- Figure 20:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, SOUTH AMERICA, 2017 - 2030
- Figure 21:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH AMERICA, 2017 - 2030
- Figure 22:
- VALUE SHARE OF MAJOR PLAYERS, %, SOUTH AMERICA, 2022
South America Outdoor LED Lighting Industry Segmentation
Public Places, Streets and Roadways, Others are covered as segments by Outdoor Lighting.
- In terms of value share, in 2023, streets and roadways (S&R) accounted for the majority of the share (59.5%), followed by public places (40.5%) and others. The market share is expected to witness a small reduction in S&R and a gain in public places in the coming years. To limit the spread of COVID-19, public places such as stadiums, pools, beaches, and forts were shut down throughout the region. There has been a halt in the construction of parks and stadium facilities. Further, in 2021, South America relaxed COVID-19 restrictions. Brazil aimed to invest more than USD 60 billion in highways by 2023 and 2026. The auctions are expected to attract approximately USD 20 billion in investments for four highways, two in Parana, one in Minas Gerais, and one in Rio de Janeiro. These instances are expected to increase highway lighting, thus contributing to the LED market in the region.
- In terms of volume share, in 2023, public places accounted for the majority of the share (65.4%), followed by (S&R) (34.6%) and others. The market share is expected to be a small reduction in S&R and a gain in public places in the coming years. With the opening of a new attraction in 2023 at Beto Carrero World in Brazil, the iconic Nerf brand will have its first theme park in its 53 years of existence.
- The demand for parking lots is also increasing with the rise of retail stores across the region. For instance, in July 2023, Fashion retailer H&M planned to launch stores and online trade in Brazil by 2025. H&M has partnered with Dorben Group, one of the prominent retailers in 10 Central and South American countries, to expand its presence in Brazil. Such advancements in the market are expected to fuel the demand for outdoor LEDs in the coming years.
| Outdoor Lighting | |
| Public Places | |
| Streets and Roadways | |
| Others |
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Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
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Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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