Market Research Report Analysis on Energy Efficient Lamps and Ballasts Industry Trends & Forecast 2017 – 2025

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The market for energy efficient lamps and ballasts in Latin America is expected to grow at a healthy rate during the forecast period, with varying demand trend during the first and second half of the period 2012 – 2018. This is largely due to the effect of an agreement among most of the Latin American countries to gradually phase out incandescent lamps. The Latin America market for energy efficient lamps is estimated to grow to USD 3,510.1 million by 2018, growing at a CAGR of 23.0% from 2012 – 2018. However, due to long life span of energy efficient lighting products such as CFLs (compact fluorescent lamps), and LED (light emitting diode) lamps, the market may face growth retardation towards the end of the decade. The demand then would be primarily driven by new installments and replacement demand for worn out or obsolete products.

The report analyzes the Latin American market in terms of different product types currently available in the market. These include: Fluorescent lamps, CFLs, LED lamps, and HID (high intensity discharge) lamps. Of all the product types, LED lamps and CFLs are expected to hold the highest market share by 2018. In 2012, fluorescent lamps dominated the market due to their low prices, closely followed by CFLs. The dropping prices of CFLs and demand for energy efficient products is expected to drive the market growth in the near future. By 2018, LED lamps are expected to account for the largest market share, primarily due to comparatively higher price and extensive use for residential and commercial lighting. Use of energy efficient lighting solutions in the commercial and industrial sector may see an initial fast adoption of CFLs as prices for LED lamps are higher. However, with estimated drop in prices, the market for LED lamps and energy efficient outdoor lighting solutions is expected to pickup.

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A similar trend is observed across the entire product segment of the ballasts market too. The different types of ballasts considered in the market estimate and analysis are: magnetic fluorescent ballasts, electronic fluorescent ballasts, CFL ballasts, LED driver modules, magnetic HID ballasts, and electronic HID ballasts. Magnetic ballasts are seeing a sharp drop in growth due to their energy inefficiency and development of technologically advanced lighting solutions, such as LED driver modules.

The various geographic regions analyzed in the report are: South America, the Caribbean, Brazil, Mexico, Argentina, and Central America. Among all, Argentina and Brazil are in advanced stage of transformation to energy efficient lighting solutions, as prescribed by the United Nations Environment Program (UNEP). Brazil, Mexico, and Argentina are the fastest growing regions for energy efficient lamps and ballasts market. The Olympics in 2016 and the FIFA World Cup in 2014 are key drivers for market growth in Brazil. The Caribbean and Central America are however expected to witness steady growth towards the latter half of the forecast period, largely driven by assistance from neighboring countries for transformation to energy efficient lamps and ballast. Venezuela, which received assistance from Cuba, is now in collaboration with Cuba, providing assistance to Bolivia for phasing out of GLS lamps.

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