Mexico LED Lighting Market Rising Trends, Demand and Growing Business Opportunities 2021

Mexico LED Lighting Market - Growth. Trends And Forecasts (2020-2025)

The report presents an in-depth assessment of the Mexico LED Lighting including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Mexico LED Lighting investments from 2020 till 2025.

The Mexican LED lighting market is expected to witness a CAGR of 17.1% during the forecast period (2020-2025). In the current market state, LEDs have gained a mainstream in the lightings market. Key factors behind this are the continuous declining LED prices in the country coupled with favorable government initiatives.

The Mexico LED Lighting market is highly competitive and consists of a number of major players: Acuity Brands Inc., Signify Holdings BV, General Electric Company, DialightÊPLCÊ, OppleÊLighting, ASSIC Group, Eaton Corporation, OSRAM GmbH

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Scope of the Report                       

The National Public Lighting Program to replace traditional lightings with LED aimed at sustainable use of energy.The National Public Lighting Program in support from CONUEE, and the Federal Electricity Commission for guidance on implementation, verification, and financing of efficient lighting projects.

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.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Mexico LED Lighting Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs

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