South America Filament LED Bulb Market
No. of Pages: 69 | Report Code: TIPRE00024077 | Category: Electronics and Semiconductor
No. of Pages: 69 | Report Code: TIPRE00024077 | Category: Electronics and Semiconductor
The SAM filament LED bulb market is further segmented into Brazil, Argentina, and the Rest of SAM. The region's growth prospects are uneven, with a few countries experiencing challenging macroeconomic and political conditions. Brazil, Argentina, Chile, and Peru are developing economies that invest heavily in infrastructure and industrial growth. With various countries having difficult political and macroeconomic contexts, the region has a varied growth picture. Despite several hurdles, governments' constructive measures are assisting economies in growing at a respectable rate during the anticipated period. Several countries in this region presently lack the infrastructure and resources needed to further develop the same across the region. Brazil's construction industry has been one of the hardest hits by the region's significant economic downturn over the last few decades. The construction activity has been declining since 2014 due to the failing economy, high inflation, restricted credit supply, low government spending, and several corruption investigations involving major construction companies. As a result, projects have been postponed, and incumbent players have faced rising financial, liquidity, and reputational challenges, including restrictions on participating in public contracts, triggering a massive restructuring process. Therefore, Brazil's overall unsteady economic situation has slowed the demand for filament LED bulbs across the country.
In the SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These SAMsures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The sharp decline in the sales of the lighting solutions in the region due to lockdown SAMsures is expected to directly impact the growth of the filament LED bulb market. Moreover, decline in business activities by café, restaurants, hotels, and bars are also imposing a negative impact on the growth of the market
Strategic insights for the South America Filament LED Bulb provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 90.88 Million |
| Market Size by 2028 | US$ 433.13 Million |
| Global CAGR (2021 - 2028) | 25.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Filament LED Bulb refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The filament LED bulb market in SAM is expected to grow from US$ 90.88 million in 2021 to US$ 433.13 million by 2028; it is estimated to grow at a CAGR of 25.0% from 2021-2028. Rising number of commercial and residential construction projects; Many countries are seeing an increase in home renovation and remodeling activities, which can be linked to increased government support, particularly in industrialized countries. Consumers' desire to spend a significant amount of money on the style of living spaces has drawn their attention to home furnishings such as carpets and rugs and advanced and styled lighting systems, which improve the aesthetic appeal of interiors. Rise in consumer income levels, changes in lifestyles, and embrace of diverse cultures in terms of interior decor are contributing to this transition. Regular Government initiatives to promote building own houses, especially in the developing countries, are also fueling the demand for filament LED bulbs for residential use. Thus, the above-mentioned government initiatives are contributing to the rise in commercial and residential construction projects, thereby creating the demand for filament LED bulbs. This, in turn, is contributing to the growth of the market.
In terms of product, 0-25-Watt type segment held the largest share SAM filament LED bulb market in 2020. In terms of application, the
A few major primary and secondary sources referred to for preparing this report on the filament LED bulb market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report Feilo Sylvania Europe Limited Y; MEGAMAN; Seoul Semiconductor Co., Ltd.; Signify Holding (Philips); UKLED; Verbatim Americas LLC
The South America Filament LED Bulb Market is valued at US$ 90.88 Million in 2021, it is projected to reach US$ 433.13 Million by 2028.
As per our report South America Filament LED Bulb Market, the market size is valued at US$ 90.88 Million in 2021, projecting it to reach US$ 433.13 Million by 2028. This translates to a CAGR of approximately 25.0% during the forecast period.
The South America Filament LED Bulb Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Filament LED Bulb Market report:
The South America Filament LED Bulb Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Filament LED Bulb Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Filament LED Bulb Market value chain can benefit from the information contained in a comprehensive market report.
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