Mexico LED Lighting Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Mexico LED Lighting Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Mexico LED Lighting Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Mexico LED Lighting Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The Mexican LED lighting market is expected to grow at a CAGR of 17.1% over the forecast period (2021 – 2026).
The growing demand for energy-efficient lighting systems, declining prices of LED products, and stringent government regulations are major factors driving the adoption of LED lighting in Mexico. In the country, LEDs have been undergoing rapid technological and economic development as a new source of lighting, motivating further investment in the sector.
Request Sample Report of Mexico LED Lighting Market:
Industry News and Latest developments:
– May 2020 – Dialight launched new upgrades to the Vigilant and SafeSite Area Light. This further upgradation consists of a new Universal Mounting Adapter (UMA), which offers stock flexibility to its distributors and customers at the time of its installation.
– March 2020 – Signify announced the completion of the acquisition of Cooper Lighting Solutions from Eaton for USD 1.5 billion. With this acquisition, the company has planned to focus on the innovation of connected lightings and systems. This is estimated to drive the revenue growth of the company in the North American market with an aimed increase in professional revenues from 42% to 53%.
– February 2020 – Signify introduced a new integrated Philips Combo Charge Controller for streetlights, enabling the emergence of a hybrid solar system. With this innovation, the company is aiming at creating a new market for solar powered outdoor lightings in Asia, Africa, South America, Australia, and Spain, where the company has already installed solar-powered lights.
Key Market Trends
Increasing Demand for Outdoor Lighting Due to Smart Development Initiatives to Drive the Market Growth
– In Mexico, even though the LED penetration is low for the residential end user, the government is mainly focusing on outdoor lighting for reducing electricity consumption as well as greenhouse gas emission. According to the study by INEGI, the average penetration of LED in residential rooms is just 12% in the country.
– Recently, the government has initiated the project to replace all the streetlights in the Guadalajara city, half of the total 80,000 streetlights in the city across 200 districts along 100 roads. The project is reportedly self-financed with the energy savings it creates. The program is planned on a 10-year leasing contract valued at MXN 300 million (close to USD 19 million). With this program, the city is expected to create savings of over USD 500,000 per month.
– The Servicio Express Aeropuerto Carret on Monterrey-Laredo Highway needed an energy-efficient lighting solution for the service stations parking lot and canopy that covers the pumping stations. The authority has mentioned that by replacing the old 23 inefficient metal halide flood and canopy fixtures with LED enabled to save energy of 268,000 kWh and USD 32,160 in energy and maintenance.
Industrial Use of LED Lighting in Mexico is Expected to Grow Significantly
– With around 621 medical device manufacturing companies, Mexico is one of the largest exporters of medical devices to the United States, and parts of Latin America, known for its high quality. With export revenues going as high as USD 9 billion, in 2019, medical device manufacturers are having zero tariffs on imports and exports under NAFTA. This makes Mexico a potential destination for setting up a UV-based medical device franchise, which is one of the highest growing fields of UV-LED light applications.
– Mexico has a severe freshwater shortage, and the re-use of water is extensively practiced across the region. Considering this, UV-based consumer products, like sterilizers and disinfectants, are expected to gain importance over the forecast period considering that 80% are urban population, according to the World Bank. Additionally, the WHO has stated that the use of UV-based disinfectants is becoming prevalent in the country; hence, healthcare-associated infections (HAIs) are the most common reasons for death.
– Vendors offering LED solutions are expanding their presence in Mexico to support ongoing local demand. For instance, Aquionics, a part of the Halma Group, and a prominent UV-LED based disinfectant product manufacturer, has strengthened its team in Mexico, anticipating the demand for industrial LED lighting.
Get Flat 20% Discount on This Report at:
Mexico LED Lighting Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Mexico LED Lighting market share, latest trends, key players, and their projections for the future. Also, Mexico LED Lighting Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Mexico LED Lighting Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Mexico LED Lighting market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Mexico LED Lighting industries have also been greatly affected. With the slowdown in world economic growth, the Mexico LED Lighting industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Mexico LED Lighting market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Mexico LED Lighting market size will be further expanded, we expect that by 2027.
The Study Objectives of Mexico LED Lighting Market Report Are:
- Focuses on the key Mexico LED Lighting manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
Browse the Full report description and TOC at:
The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
We Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Irfan Tamboli (Head of Sales)-Market Insights Reports
Phone: + 1704 266 3234 | Mob: +91-750-707-8687