The Latin America, Middle East and Africa Industrial and Commercial LED Lighting Market would witness market growth of 20.8% CAGR during the forecast period (2022-2028).
LED lights do not fracture and do not include harmful elements like mercury-filled fluorescent tubes, which eliminates the need for expensive special disposal services. The transition to LED illumination is now simpler than ever. Updating with Straits is a simple process, from fall bulbs that fit with current fixtures to complete replacement fixtures.
These lights often make installation simpler because they don't require ballasts or other supporting equipment because everything they needed to function is already built into the fixture. There are no hazardous materials in LED lights. Fluorescent strip lights, which include hazardous compounds like mercury, are currently used in the majority of offices. When this is dumped in a landfill, the environment will get contaminated.
Switching to LED aids in protecting the environment from additional harmful waste by avoiding the time and cost implications necessary for compliant disposal, which must be handled via a certified trash carrier. Compared to past kinds of lighting that waste energy by releasing light in all directions, sometimes illuminating regions where light is really not needed, LEDs have a good distribution of light and focus light in a single direction (such as the ceiling).
This region consists of nations that are progressing at a rapid rate along with maintaining sustainability of energy. Along with that, the consumption of electricity and other energy sources is constantly increasing and hence, motivating companies and individuals to adopt energy-efficient lighting systems. The rise in the construction of various industries and commercial spaces like restaurants, cinema and others, which is creating new growth prospects for the regional market players.
The Brazil market dominated the LAMEA Industrial and Commercial LED Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,658.6 million by 2028.The Argentina market is anticipated to grow at a CAGR of 21.5% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 20.5% during (2022 - 2028).
Based on Product Type, the market is segmented into LED Lamps and LED Fixtures. Based on Application, the market is segmented into Indoor Lighting and Outdoor Lighting. Based on End User, the market is segmented into Commercial and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Industrial and Commercial LED Lighting Market is Predict to reach $91.5 Billion by 2028, at a CAGR of 17.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dialight PLC, Eaton Corporation, General Electric (GE) Co., Signify N.V., AMS AG (OSRAM Licth AG), Syska LED Lights Private Limited, Toshiba Corporation, Zumtobel Group AG, Deco Lighting, Inc., and Wolfspeed, Inc.
By Product Type
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