LED Lighting Market in Brazil to grow at a CAGR of 11.64% from 2022 to 2027, Driven by the declining manufacturing costs - Technavio

NEW YORK, March 9, 2023 /PRNewswire/ -- According to Technavio, the LED lighting market in Brazil size is estimated to grow by USD 1,651.14 million from 2022 to 2027. The market is estimated to grow at a CAGR of  11.64% during the forecast period. The declining manufacturing cost of LEDs, growing demand for energy-efficient and sustainable lighting, and supportive government legislation are the driving factors shaping the growth during the forecast period.

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The declining ASP (average selling price) of the chips and the components used to manufacture LEDs have reduced the manufacturing costs of LED lights. The LED lighting market has a high growth potential, which compels vendors to focus more on LEDs instead of traditional lighting sources. For instance, GE Lighting has stopped the production of CFLs in 2016 to focus on the production of LED bulbs. The reduced manufacturing costs led to a low-cost initial installation cost of LED fixtures and lamps. This accelerates the rapid installation of LED fixtures and lamps across Brazil.

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• Global competitiveness and key competitor positions 
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Leading trends influencing the market 

• The emergence of power-saving smart lighting systems is a key trend influencing the market growth in Brazil during the forecast period.
• This technology enables users to control appliances remotely and saves electricity expenses by determining exactly when the light should be switched on or off.
• Some of the popular features of smart lighting include switching on when someone enters the room, changing colors under certain conditions, and IoT features.
• The growing inclination of users towards smart lighting in Brazil encourages vendors to establish strategic partnerships and develop a smart lighting ecosystem in the country.

Major challenges hindering the market growth

• Brazil's high import duties may impede the growth of the LED lighting market in the country. Imports in the country are subjected to different fees and taxes which are paid during the customs clearance process.
• Various smaller fees apply to imports along with the import duty, the merchandise and service circulation tax, and the industrialized product tax.
• Along with the 18% import duty, which is higher than that of other BRIC nations, other fees like handling fees, storage fees, airport fees, and declaration fees are factors that increase the final price of the product.

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LED Lighting Market in Brazil - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (general LED lighting, automotive LED lighting, and LED backlighting), product type (new and retrofit), and distribution channels (offline and online). 

• The general LED lighting segment is a major contributor to the market growth during the forecast period.
• General LED lighting is popular due to its widespread use in homes, offices, stadiums, factories, streets, and theatres.
• This segment offers applications in various segments like architecture, residential, hospitality, retail, and office.
• LED lights are preferred by many users due to their energy efficiency, environment-friendliness, reduced prices, and less energy consumption.

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What are the key data covered in this LED Lighting Market in Brazil report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the LED lighting market in Brazil between 2023 and 2027
• Precise estimation of the size of the LED lighting market in Brazil and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the LED lighting market in Brazil. 
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the LED lighting market vendors in Brazil. 

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 08: Parent market
• Exhibit 09: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 10: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 11: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 12: Chart on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Data Table on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 14: Chart on Brazil: Year-over-year growth 2022-2027 (%)
• Exhibit 15: Data Table on Brazil: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 LED lighting market in Brazil 2017 - 2021
• Exhibit 16: Historic Market Size – Data Table on LED lighting market in Brazil 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 17: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Product type Segment Analysis 2017 - 2021
• Exhibit 18: Historic Market Size – Product type Segment 2017 - 2021 ($ million)

• 4.4 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 20: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 23: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 24: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 25: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 26: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 27: Chart on Application - Market share 2022-2027 (%)
• Exhibit 28: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 29: Chart on Comparison by Application
• Exhibit 30: Data Table on Comparison by Application

• 6.3 General LED lighting - Market size and forecast 2022-2027
• Exhibit 31: Chart on General LED lighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 32: Data Table on General LED lighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 33: Chart on General LED lighting - Year-over-year growth 2022-2027 (%)
• Exhibit 34: Data Table on General LED lighting - Year-over-year growth 2022-2027 (%)

• 6.4 Automotive LED lighting - Market size and forecast 2022-2027 
• Exhibit 35: Chart on Automotive LED lighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Data Table on Automotive LED lighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 37: Chart on Automotive LED lighting - Year-over-year growth 2022-2027 (%)
• Exhibit 38: Data Table on Automotive LED lighting - Year-over-year growth 2022-2027 (%)

• 6.5 LED backlighting - Market size and forecast 2022-2027
• Exhibit 39: Chart on LED backlighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Data Table on LED backlighting - Market size and forecast 2022-2027 ($ million)
• Exhibit 41: Chart on LED backlighting - Year-over-year growth 2022-2027 (%)
• Exhibit 42: Data Table on LED backlighting - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 43: Market opportunity by Application ($ million)
• Exhibit 44: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Product Type

• 7.1 Market segments 
• Exhibit 45: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 46: Data Table on Product Type - Market share 2022-2027 (%)

• 7.2 Comparison by Product Type 
• Exhibit 47: Chart on Comparison by Product Type
• Exhibit 48: Data Table on Comparison by Product Type

• 7.3 New - Market size and forecast 2022-2027
• Exhibit 49: Chart on New - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Data Table on New - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Chart on New - Year-over-year growth 2022-2027 (%)
• Exhibit 52: Data Table on New - Year-over-year growth 2022-2027 (%)

• 7.4 Retrofit - Market size and forecast 2022-2027
• Exhibit 53: Chart on Retrofit - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Data Table on Retrofit - Market size and forecast 2022-2027 ($ million)
• Exhibit 55: Chart on Retrofit - Year-over-year growth 2022-2027 (%)
• Exhibit 56: Data Table on Retrofit - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product Type 
• Exhibit 57: Market opportunity by Product Type ($ million)
• Exhibit 58: Data Table on Market opportunity by Product Type ($ million)

8 Market Segmentation by Distribution Channel

• 8.1 Market segments 
• Exhibit 59: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 60: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 8.2 Comparison by Distribution Channel 
• Exhibit 61: Chart on Comparison by Distribution Channel
• Exhibit 62: Data Table on Comparison by Distribution Channel

• 8.3 Offline - Market size and forecast 2022-2027
• Exhibit 63: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 8.4 Online - Market size and forecast 2022-2027
• Exhibit 67: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 8.5 Market opportunity by Distribution Channel
• Exhibit 71: Market opportunity by Distribution Channel ($ million)
• Exhibit 72: Data Table on Market opportunity by Distribution Channel ($ million)

9 Customer Landscape

• 9.1 Customer landscape overview 
• Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 74: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 75: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 76: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 77: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 78: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 79: Matrix on vendor position and classification

• 12.3 ABB Ltd. 
• Exhibit 80: ABB Ltd. - Overview
• Exhibit 81: ABB Ltd. - Business segments
• Exhibit 82: ABB Ltd. - Key offerings
• Exhibit 83: ABB Ltd. - Segment focus

• 12.4 Acuity Brands Inc. 
• Exhibit 84: Acuity Brands Inc. - Overview
• Exhibit 85: Acuity Brands Inc. - Business segments
• Exhibit 86: Acuity Brands Inc. - Key news
• Exhibit 87: Acuity Brands Inc. - Key offerings
• Exhibit 88: Acuity Brands Inc. - Segment focus

• 12.5 Consumers Lighting and Lamps 
• Exhibit 89: Consumers Lighting and Lamps - Overview
• Exhibit 90: Consumers Lighting and Lamps - Product / Service
• Exhibit 91: Consumers Lighting and Lamps - Key offerings

• 12.6 Dialight Plc 
• Exhibit 92: Dialight Plc - Overview
• Exhibit 93: Dialight Plc - Business segments
• Exhibit 94: Dialight Plc - Key offerings
• Exhibit 95: Dialight Plc - Segment focus

• 12.7 Eaton Corp. Plc 
• Exhibit 96: Eaton Corp. Plc - Overview
• Exhibit 97: Eaton Corp. Plc - Business segments
• Exhibit 98: Eaton Corp. Plc - Key news
• Exhibit 99: Eaton Corp. Plc - Key offerings
• Exhibit 100: Eaton Corp. Plc - Segment focus

• 12.8 Havells India Ltd. 
• Exhibit 101: Havells India Ltd. - Overview
• Exhibit 102: Havells India Ltd. - Business segments
• Exhibit 103: Havells India Ltd. - Key news
• Exhibit 104: Havells India Ltd. - Key offerings
• Exhibit 105: Havells India Ltd. - Segment focus

• 12.9 HELLA GmbH and Co. KGaA 
• Exhibit 106: HELLA GmbH and Co. KGaA - Overview
• Exhibit 107: HELLA GmbH and Co. KGaA - Business segments
• Exhibit 108: HELLA GmbH and Co. KGaA - Key news
• Exhibit 109: HELLA GmbH and Co. KGaA - Key offerings
• Exhibit 110: HELLA GmbH and Co. KGaA - Segment focus

• 12.10 Kian Lighting 
• Exhibit 111: Kian Lighting - Overview
• Exhibit 112: Kian Lighting - Product / Service
• Exhibit 113: Kian Lighting - Key offerings

• 12.11 Koninklijke Philips NV 
• Exhibit 114: Koninklijke Philips NV - Overview
• Exhibit 115: Koninklijke Philips NV - Business segments
• Exhibit 116: Koninklijke Philips NV - Key news
• Exhibit 117: Koninklijke Philips NV - Key offerings
• Exhibit 118: Koninklijke Philips NV - Segment focus

• 12.12 Lutron Electronics Co. Inc. 
• Exhibit 119: Lutron Electronics Co. Inc. - Overview
• Exhibit 120: Lutron Electronics Co. Inc. - Product / Service
• Exhibit 121: Lutron Electronics Co. Inc. - Key offerings

• 12.13 Nichia Corp. 
• Exhibit 122: Nichia Corp. - Overview
• Exhibit 123: Nichia Corp. - Product / Service
• Exhibit 124: Nichia Corp. - Key offerings

• 12.14 OSRAM GmbH 
• Exhibit 125: OSRAM GmbH - Overview
• Exhibit 126: OSRAM GmbH - Business segments
• Exhibit 127: OSRAM GmbH - Key offerings
• Exhibit 128: OSRAM GmbH - Segment focus

• 12.15 Panasonic Holdings Corp. 
• Exhibit 129: Panasonic Holdings Corp. - Overview
• Exhibit 130: Panasonic Holdings Corp. - Business segments
• Exhibit 131: Panasonic Holdings Corp. - Key news
• Exhibit 132: Panasonic Holdings Corp. - Key offerings
• Exhibit 133: Panasonic Holdings Corp. - Segment focus

• 12.16 Toshiba Corp. 
• Exhibit 134: Toshiba Corp. - Overview
• Exhibit 135: Toshiba Corp. - Business segments
• Exhibit 136: Toshiba Corp. - Key offerings
• Exhibit 137: Toshiba Corp. - Segment focus

• 12.17 Wolfspeed Inc. 
• Exhibit 138: Wolfspeed Inc. - Overview
• Exhibit 139: Wolfspeed Inc. - Business segments
• Exhibit 140: Wolfspeed Inc. - Key offerings
• Exhibit 141: Wolfspeed Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 142: Inclusions checklist
• Exhibit 143: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 144: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 145: Research methodology
• Exhibit 146: Validation techniques employed for market sizing
• Exhibit 147: Information sources

• 13.5 List of abbreviations 
• Exhibit 148: List of abbreviations

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