South America Indoor LED Lighting Market Size

The South America Indoor LED Lighting Market is projected to experience significant growth over the forecast period, driven by developments in the commercial sector. The market's expansion is influenced by the recovery of the economy and increasing disposable incomes in countries like Brazil and Argentina, which enhance consumer purchasing power. Additionally, infrastructure projects, such as those in Chile and Mexico, are contributing to the rising demand for LED lighting. Despite the initial impact of the COVID-19 pandemic on commercial construction, the market is poised for growth as new opportunities arise in the region.

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Market Size of south america indoor led lighting Industry

South America Indoor LED Lighting Market Summary
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svg icon Study Period 2017 - 2030
svg icon Base Year For Estimation 2023
svg icon Market Size (2024) USD 604.65 Million
svg icon Market Size (2030) USD 832.47 Million
svg icon Largest Share by Indoor Lighting Commercial
svg icon CAGR (2024 - 2030) 5.47 %

Major Players

South America Indoor LED Lighting Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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South America Indoor LED Lighting Market Analysis

The South America Indoor LED Lighting Market size is estimated at 604.65 million USD in 2024, and is expected to reach 832.47 million USD by 2030, growing at a CAGR of 5.47% during the forecast period (2024-2030).

604.65 Million

Market Size in 2024 (USD)

832.47 Million

Market Size in 2030 (USD)

3.14 %

CAGR (2017-2023)

5.47 %

CAGR (2024-2030)

Largest Segment by Indoor Lighting

72.41 %

value share, Commercial, 2023

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With the emergence of property technology (PropTech), The commercial real estate industry had a positive outlook for 2022 despite the COVID-19 setback in Latin America.

Largest Segment by Commercial

16.58 %

value share, Retail, 2023

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The region has the presence of retailers and MNCs. Retailers are expanding their businesses via e-commerce. Latin America has nearly 300 million digital shoppers, and that number is expected to grow by more than 20% by 2025.

Fastest-growing Segment by Indoor Lighting

15.02 %

Projected CAGR, Agricultural Lighting, 2024-2030

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South American companies have recently started investing in indoor LED farming. Moreover, foreign investment companies, especially Canadian companies, are entering the cannabis market.

Fastest-growing Segment by Commercial

7.83 %

Projected CAGR, Office, 2024-2030

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The office inventory space expanded by more than 300,000 sq. m in nine locations examined, totaling more than 25 million square meters of Class A space.

Leading Market Player

20.31 %

market share, Signify (Philips), 2022

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Signify Philips holds the largest market share. The company is driving the shift from conventional fluorescent lighting to environment-friendly LED. The company mostly focuses on innovations based on the energy-efficient portfolio.

Increasing disposable incomes, government investments, and rising commercial constructions to drive the growth of the regional indoor LED lighting market

  • In terms of volume and value, the commercial segment was expected to hold the largest share in 2023, followed by residential, industrial and warehouse, and agricultural lighting. The South American indoor commercial market is expected to grow over the coming years. In 2020, the COVID-19 pandemic had a major impact on the commercial construction industry as offices and commercial spaces had to be closed and later needed to be refurbished or adapted to the new reality. The market segment that was hit badly by the pandemic was office and commercial construction, as demand for such spaces declined. However, further developments are occurring in the South American market as the economy regains strength. Monthly income in Brazil increased to USD 4,779.7 in December 2017, up from USD 4,272.3 in December 2016. In Brazil and Argentina, disposable income is increasing, which, in turn, increases the purchasing power of individuals, enabling them to spend more money on retail goods.
  • Additionally, Mexico invested more than USD 100 million in improving school infrastructure in Puebla in 2017. Increased construction activity in the country has increased the use of LED lighting. The growth will ultimately lead to an increase in the number of buildings and an increase in the use of LED lighting fixtures.
  • In addition, the Chilean government had set a goal of opening public tenders for 14 concession contracts worth a total of USD 4.6 billion in 2023. The project includes a USD 398 million airport light rail and the construction of a 12 km light rail linking the international airport with Santiago. The effort will connect Santiago's underground metro system to the airport. These developments in the commercial sector are demanding greater use of LED lighting in the region.
South America Indoor LED Lighting Market

South America Indoor LED Lighting Industry Segmentation

Agricultural Lighting, Commercial, Industrial and Warehouse, Residential are covered as segments by Indoor Lighting.

  • In terms of volume and value, the commercial segment was expected to hold the largest share in 2023, followed by residential, industrial and warehouse, and agricultural lighting. The South American indoor commercial market is expected to grow over the coming years. In 2020, the COVID-19 pandemic had a major impact on the commercial construction industry as offices and commercial spaces had to be closed and later needed to be refurbished or adapted to the new reality. The market segment that was hit badly by the pandemic was office and commercial construction, as demand for such spaces declined. However, further developments are occurring in the South American market as the economy regains strength. Monthly income in Brazil increased to USD 4,779.7 in December 2017, up from USD 4,272.3 in December 2016. In Brazil and Argentina, disposable income is increasing, which, in turn, increases the purchasing power of individuals, enabling them to spend more money on retail goods.
  • Additionally, Mexico invested more than USD 100 million in improving school infrastructure in Puebla in 2017. Increased construction activity in the country has increased the use of LED lighting. The growth will ultimately lead to an increase in the number of buildings and an increase in the use of LED lighting fixtures.
  • In addition, the Chilean government had set a goal of opening public tenders for 14 concession contracts worth a total of USD 4.6 billion in 2023. The project includes a USD 398 million airport light rail and the construction of a 12 km light rail linking the international airport with Santiago. The effort will connect Santiago's underground metro system to the airport. These developments in the commercial sector are demanding greater use of LED lighting in the region.
Indoor Lighting
Agricultural Lighting
Commercial
Office
Retail
Others
Industrial and Warehouse
Residential
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South America Indoor LED Lighting Market Size Summary

The South America Indoor LED Lighting Market is experiencing a positive trajectory, driven by increasing urbanization, rising disposable incomes, and a surge in construction activities across the region. The commercial segment is anticipated to dominate the market, with significant contributions from Brazil, Colombia, and Argentina. The pandemic initially disrupted the commercial construction sector, but as economies recover, there is a renewed demand for LED lighting in commercial spaces. Government initiatives, such as Brazil's affordable housing program and infrastructure projects in Chile, are further propelling the market. The growing population and urbanization in South America are expected to enhance LED penetration, increasing the need for efficient lighting solutions.

The market is moderately consolidated, with key players like Cree LED, EGLO Leuchten, LEDVANCE, OPPLE Lighting, and Signify leading the charge. These companies are continuously innovating, as seen with OSRAM's introduction of advanced LED solutions. The residential sector, which accounts for a significant portion of energy consumption, is also witnessing increased demand for LED lighting due to rising home ownership and construction activities. Additionally, public-private partnerships in street lighting and energy-efficient initiatives are contributing to the market's growth. Overall, the South America Indoor LED Lighting Market is poised for substantial growth, supported by economic recovery, technological advancements, and strategic government policies.

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South America Indoor LED Lighting Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Indoor Lighting

      1. 1.1.1 Agricultural Lighting

      2. 1.1.2 Commercial

        1. 1.1.2.1 Office

        2. 1.1.2.2 Retail

        3. 1.1.2.3 Others

      3. 1.1.3 Industrial and Warehouse

      4. 1.1.4 Residential

South America Indoor LED Lighting Market Size FAQs

The South America Indoor LED Lighting Market size is expected to reach USD 604.65 million in 2024 and grow at a CAGR of 5.47% to reach USD 832.47 million by 2030.

In 2024, the South America Indoor LED Lighting Market size is expected to reach USD 604.65 million.

South America Indoor LED Lighting Market Report Snapshots