LED Lighting Market in Brazil 2017-2021
About LED Lighting
A light-emitting diode (LED) is a semiconductor diode electronic device that emits visible light when current passes through it. The light is not very bright, but in a large number of LEDs, it is monochromatic and is of a single wavelength. LED output can range from red (approximately 700 nanometers wavelength) to blue-violet (about 400 nanometers wavelength). LEDs help to address the key issues like energy crisis, resource scarcity, and climate change due to their low cost and efficiency. Lighting uses up around 20% of the global power generated, and the use of LED lighting will help save around 40% energy annually.
Technavio’s analysts forecast the LED Lighting Market in Brazil to grow at a CAGR of 14.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the LED Lighting Market in Brazil for 2017-2021. To calculate the market size, the report considers the domestic demand and exports. The domestic demand also considers the imports. Market estimates also include the sales of LED lighting solutions in three applications segments including automotive lighting, backlighting, and general lighting.Technavio's report, LED Lighting Market in Brazil 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – LED Lighting Market in Brazil 2017-2021
Technavio recognizes the following companies as the key players in the LED lighting market in Brazil: Cree, GE Lighting, NICHIA, OSRAM Opto Semiconductors, Philips Lighting, and Seoul Semiconductor.
Other Prominent Vendors in the market are: Dialight, Eaton, HELLA, TOSHIBA, and Panasonic.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of smart lighting. Smart lighting helps save electricity by controlling the cooling, heating, and lighting. It also enables the control of appliances remotely. Smart lighting helps reduce electricity expenses as it determines when exactly a light should be switched on or off. Different smart lighting networks do diverse things, but some of the popular features of smart lights include switching on when someone enters a room or change color under some conditions. Smart lighting network does all the work automatically, and programming of the lights can be done to respond to the users' commands. Smart lights frequently feature sensors.”
According to the report, one of the major drivers for this market is declining manufacturing cost of LEDs. The cost of manufacturing LED lights have declined since 2012 and will continue to decline during the forecast period. The declining ASP of the chips and components used for manufacturing LEDs has led to a decline in the ASP of LED lights. The high growth potential of LED lighting market is compelling vendors to focus more on LEDs instead of traditional lighting sources.
Further, the report states that one of the major factors hindering the growth of this market is high import duties. Imports in Brazil are subjected to different fees and taxes, which are generally paid during the customs clearance process. There are three taxes that account the majority of import costs: the import duty, the Merchandise and Service Circulation tax (ICMS), and the industrialized product tax. In addition to these taxes, a number of smaller taxes and fees apply to imports.
Cree, GE Lighting, NICHIA, OSRAM Opto Semiconductors, Philips Lighting, Seoul Semiconductor, Dialight, Eaton, HELLA, TOSHIBA, and Panasonic.