Mexico Lighting Market Size, Share, Price, Trends, Analysis, Report and Forecast 2023-2028

Mexico Lighting Market Outlook

According to the report by Expert Market Research (EMR), the Mexico lighting market reached approximately USD 2.7 billion in 2022. Aided by the growing demand for energy-efficient lighting solutions and the expanding applications of advanced lighting technologies in various sectors, the market is projected to further grow at a CAGR of 7.80% between 2023 and 2028, reaching a value of USD 4.19 billion by 2028.

Lighting plays an indispensable role in enhancing the functionality and aesthetic appeal of both indoor and outdoor spaces. It serves a multitude of applications across residential, commercial, and industrial sectors, including illumination for homes, workplaces, public areas, streets, and factories, aiding the Mexico lighting market growth. With advancements in technology, modern lighting solutions, such as LED (light-emitting diode) and OLED (organic light-emitting diode) lighting, have gained prominence for their superior energy efficiency, longer lifespan, and environmental benefits over conventional lighting technologies.

The growing consumer demand for energy-efficient and sustainable lighting solutions is a crucial factor driving the Mexico lighting market share analysis. With increasing awareness of the environmental impact of energy consumption, there has been a marked shift towards energy-efficient lighting products like LEDs and solar-powered lights. Furthermore, the rising costs of electricity and the push for sustainability have accelerated the transition from traditional incandescent and halogen lights to LEDs in the Mexican market.

The expanding applications of advanced lighting technologies across various sectors also significantly contribute to the Mexico lighting market expansion. In the commercial sector, businesses are increasingly using LED and smart lighting solutions to reduce energy costs and improve workplace productivity. The residential sector sees a rising trend of integrating smart home technologies, including automated and sensor-based lighting systems, for enhanced comfort, convenience, and energy conservation.

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Furthermore, the government's initiatives promoting energy efficiency and the adoption of renewable energy sources have led to a heightened focus on solar lighting in Mexico. With abundant sunlight throughout the year, Mexico presents considerable opportunities for the development and application of solar-powered lighting solutions. This shift towards renewable energy-based lighting alternatives is expected to further stimulate the Mexico lighting market growth.

Mexico Lighting Market Segmentation

The market can be divided based on type, product, application, distribution channel, and region.

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Market Breakup by Type

LED
Fluorescent
Incandescent
Halogen

Market Breakup by Product

Bulbs
Streetlights
Downlights
Tube Lights
Flood Lights
Emergency Lights
Others

Market Breakup by Application

Residential
Commercial
Public
Industrial

Market Breakup by Distribution Channel

Supermarkets and Hypermarkets
Convenience Stores
Speciality Stores
Online
Others

Market Breakup by Region

Baja California
Northern Mexico
The Bajío
Central Mexico
Pacific Coast
Yucatan Peninsula

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Mexico lighting companies. Some of the major key players explored in the report by Expert Market Research are as follows:

Signify Holdings BV
OSRAM GmbH
Eaton Corporation
Panasonic Holdings Corporation
Savant Systems, Inc.
OPPLE Lighting Co., Ltd
Acuity Brands Inc.
Hubbell Incorporated
Others

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