Mexico LED Market Size, Share, Trend, Growth 2023-2028

Mexico LED Market

El nuevo informe de Informes de Expertos titulado ‘Mercado Mexicano de LED, Informe y Pronóstico 2023-2028′, ofrece un análisis profundo del mercado, evaluándolo el mercado por el tipo, la tecnología, la aplicación y las regiones. El informe analiza los factores clave de éxito y las limitaciones, también rastrea las últimas tendencias en la industria y estudia su impacto en el mercado en general. Además, evalúa la dinámica del mercado, cubriendo los indicadores clave de demanda y precio, junto con el análisis del mercado basado en los modelos FODA y las Cinco Fuerzas de Porter.

The new report by Informes de Expertos titled, ‘Mexico LED Market Report and Forecast 2023-2028’, gives an in-depth analysis of the market, assessing on the basis of type, technology, application and key regions. The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2018-2028)

  • Forecast CAGR (2023-2028): X%

The LED market is registering constant growth in recent years. While earlier used in the electronics industry, LEDs have now emerged as an integral part of lighting systems and find applications in various domestic, industrial, and commercial uses, which is positively impacting the market growth. Moreover, its increasing adoption in multiple public lighting systems, backlighting on large screens, mobile devices, and automotive lighting are further providing impetus to the industry growth.

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With the presence of various national and international key players in Mexico, the industry is projected to witness rapid growth in the forecast period owing to the constant product evolvement and development by the industry players. Moreover, the increasing inclination of consumers toward energy-efficient solutions and the rapid development of smart lighting in the region is further expected to contribute significantly to the industry growth.

Industry Definition and Major Segments

A light-emitting diode (LED) is a semiconductor light source that converts electrical energy into light energy. LEDs offer a large number of advantages such as they consume less electricity than incandescent lights, are energy-efficient, durable, easy to install, are environmentally friendly alternatives to CFL and have a longer life.

By type, the market is divided into:

  • Pinned LED
  • Surface Mount LED (SMD LED)
  • LED Chip on Board
  • Others

By technology, the industry is fragmented into:

  • Basic LED
  • Micro LED
  • High Brightness LED
  • OLED
  • Ultraviolet LED
  • Polymer LED
  • Others

Depending on the application, the market is divided into:

  • Lighting
  • Automotive
  • Electronic devices
  • Signal and Signage
  • Others

Key regions covered include:

  • Baja California
  • Northern Mexico
  • The Bajío
  • Central Mexico
  • Pacific Coast
  • Yucatán Peninsula
  • Others

Market Trends

LEDs have emerged as a new source of lighting and are therefore encouraging large investments by the key players of the industry in the region. Stringent regulations and energy-saving initiatives by the government are pivotal factors stimulating the LED market in Mexico. For instance, the Mexican government initiated a program called “Proyecto Nacional de Eficiencia Energética en Alumbrado Público Municipal” with the main objective of promoting energy efficiency by replacing ineffective municipal public lighting and incorporating better and more efficient street lighting systems in the region.

The government agencies in the region are increasingly incorporating LEDs for outdoor lighting to reduce electricity consumption and the emission of greenhouse gases. However, despite the continuous efforts of the government to promote LEDs to ensure less energy consumption, the domestic use of LEDs is still very low in Mexico. Nevertheless, with the rapid technological advancements, it is expected that the market will augment considerably over the forecast period.

Key Market Players

The major players in the market are:

  • Signify N.V.
  • OSRAM Licht AG
  • Nichia Corporation
  • Lumileds Holding B.V.
  • Samsung Electronics Co. Ltd.
  • LG Electronics Inc.
  • Others

This report covers the market shares, expansions, investments and mergers and acquisitions, among other latest developments of these industry players.

About Us:

Informes de Expertos the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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