Latest News- Led (Light Emitting Diode) Lighting Market in Brazil: General LED lighting is expected to lead the Application segment during 2024-2028

The Led (Light Emitting Diode) Lighting Market in Brazil is being driven by Declining manufacturing cost of LEDs

The Led (Light Emitting Diode) Lighting Market in Brazil is expected to grow at a CAGR of 13.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2235.9 million. In the Brazilian market, LED (Light Emitting Diode) lighting is evolving with the integration of smart technology. This innovation offers significant energy savings through automated control of cooling, heating, and lighting. Smart lighting networks enable remote management of appliances, reducing electricity expenditures by optimally scheduling light usage. Features such as motion sensors, color change under specific conditions, and user-commanded programming, enhance the functionality of these lights. By identifying occupancy and environmental factors, smart lighting networks provide illumination efficiently and effectively, contributing to substantial energy savings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • General LED lighting
  • Automotive LED lighting
  • LED backlighting
• Product Type
  • New
  • Retrofit
• Distribution Channel
  • Offline
  • Online
• Geography
  • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Declining manufacturing cost of LEDs
• Increasing demand for energy-efficient and sustainable lighting
• Supportive government legislation

However, the market also witnesses some limitations, which are as follows:

• High import duties
• Limited thermal tolerance of LEDs
• Resurgence of incandescent lighting

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Market Scope in Led (Light Emitting Diode) Lighting Market in Brazil Research Report

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Research Analysis Overview

The LED (Light Emitting Diode) lighting market in Brazil is experiencing significant growth due to the increasing demand for energy efficient illumination. Residential LED bulbs, with ENERGY STAR certification, are becoming increasingly popular as they help reduce electricity bills and offer long lifespans. In the commercial sector, LED lighting is being adopted for indoor applications such as office lighting, retail lighting, and educational institutions, as well as outdoor applications like roadway lighting and street lighting. Building management systems and smart residences are also integrating LED lighting technologies, including OLED and LED strips, to optimize energy consumption and provide customized illumination strength. Supportive initiatives from the Brazilian government and energy companies are encouraging the replacement of inefficient lighting systems, such as Compact Fluorescent Lamps (CFL) and Incandescent light sources. LED lighting is also being used in healthcare lighting and daylighting to improve the overall lighting experience and reduce energy consumption. Occupancy sensors and WiFi connectivity are additional features that are being integrated into LED lighting systems to enhance energy savings and provide added convenience. Overall, the LED lighting market in Brazil is expected to continue its growth trajectory due to its energy efficiency, long lifespan, and advanced features.

Market Research Overview

The Led (Light Emitting Diode) lighting market in Brazil is a significant segment of the larger global electrical components and equipment market. This market encompasses organizations involved in the production of electric cables and wires, electrical components, and electrical equipment. According to Technavio, the global electrical components and equipment market size is determined by the consolidated revenue generated by manufacturers of various sub-segments, including water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market includes revenues from companies offering renting and leasing services for electrical components and equipment to diverse end-users, such as industrial, commercial, and residential sectors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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