According to ElectroniCast, the consumption value of LED lamps in the Latin American region is forecast to reach $348.95 million in the year 2015, representing an average annual growth rate of 42.5 percent (2010-2015).
Lima, Peru – September 22, 2011 -- ElectroniCast Consultants, a leading market research consultancy serving the photonics industry, today announced their 5-year market forecast of the Latin American consumption of light emitting diode (LED) lamps in solid-state lighting (SSL) General Lighting applications.
According to ElectroniCast, the Latin American region consumption value of LED lamps, which are used in SSL General Lighting, reached $59.48 million in 2010; consumption value will increase at an average annual growth rate of 42.5 to $348.95 million in 2015. The consumption value will increase with strongly rising quantity growth partially offset by declining average prices in some product categories.
“ElectroniCast Consultants has a regional office in Lima Peru, and we have seen first-hand an impressive increase in the use of LED-based lighting in Lima over the last couple of years, as well as LED-based lighting products on the shelves in several retail stores. Countries in Latin America have managed to resist the global economic and financial crisis more successfully than in many other regions of the world,” said Stephen Montgomery, president of International Business.
The market for LED Lights in Latin America is new and it is still open for new companies and brands and ElectroniCast is helping clients enter to market in the region. According to the new report, Brazil will take control of the leadership role in relative market share in LED lighting implementation; however, Mexico is forecast to aggressively pick-up on the deployment of government-installed LED-based streetlights.
In anticipation of infrastructure lighting improvements for the World Cup (2014) and the Olympics (2016), and according to ElectroniCast, LED consumption value in Brazil is forecast to increase at a regional leading annual growth rate of 46.7 percent (2010-2015); of which 51.3 percent will be attributed to street-lighting (roadway/tunnel), parking-lot/campus and similar (lamp-type) outdoor general lighting.
The ElectroniCast market forecast of Latin American consumption is presented for five major lamp-type categories. The forecast is also segment by the following countries/ sub-region: Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela and Rest of Latin America.
This market forecast report is available immediately from ElectroniCast Consultants (fee $4,200). For detailed information on this or other services provided by ElectroniCast, please contact Theresa Hosking, Marketing/Sales; thosking@electronicastconsultants.com
(Telephone/USA: 707/275-9397)
ElectroniCast Consultants – www.electronicast.com specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.
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