Market Size of south america outdoor led lighting Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 1.09 Billion |
|
|
Market Size (2030) | USD 1.38 Billion |
|
Largest Share by Outdoor Lighting | Streets and Roadways |
|
|
CAGR (2024 - 2030) | 4.03 % |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular 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.
Understand The Key Trends Shaping This Market
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 |
Need A Different Region Or Segment?
South America Outdoor LED Lighting Market Size Summary
The South America Outdoor LED Lighting Market is poised for steady growth, driven by increasing urbanization and infrastructure development across the region. The market is characterized by a significant presence in street and roadway lighting, which currently holds the majority share, although a gradual shift towards public place lighting is anticipated. The relaxation of COVID-19 restrictions has spurred activity in public spaces, contributing to the demand for LED lighting. Investments in infrastructure, such as Brazil's substantial funding for highway projects, are expected to further bolster the market. The rise in retail and entertainment venues, alongside the expansion of stadiums and sports facilities, also plays a crucial role in driving the demand for outdoor LED lighting solutions.
The market landscape is fragmented, with key players like Cree LED, EGLO Leuchten, LEDVANCE, OPPLE Lighting, and Signify Holding leading the charge. Innovations in LED technology, such as those introduced by Cree LED, are enhancing the efficacy and appeal of outdoor lighting solutions. The increasing adoption of electric vehicles in the region is another factor contributing to the market's growth, as it drives the need for advanced lighting solutions in automotive applications. As urban populations continue to grow, the demand for residential and commercial properties is rising, further fueling the need for efficient and sustainable LED lighting solutions in South America.
South America Outdoor LED Lighting Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
-
1.1 Outdoor Lighting
-
1.1.1 Public Places
-
1.1.2 Streets and Roadways
-
1.1.3 Others
-
-
South America Outdoor LED Lighting Market Size FAQs
How big is the South America Outdoor LED Lighting Market?
The South America Outdoor LED Lighting Market size is expected to reach USD 1.09 billion in 2024 and grow at a CAGR of 4.03% to reach USD 1.38 billion by 2030.
What is the current South America Outdoor LED Lighting Market size?
In 2024, the South America Outdoor LED Lighting Market size is expected to reach USD 1.09 billion.
