Posted On: 2021-08-06
More than 100W wattage type segment acquired the largest revenue share in Peru outdoor LED lighting market - 6Wresearch.
Peru outdoor LED lighting market is expected to witness robust growth in the coming years on the back of a number of infrastructural projects, development of airports in new cities and construction of highways and railway line. Growing investment in infrastructure along with a strong construction sector would be the key market driver for outdoor LED lighting market of Peru. In addition to that, the government of Peru has taken many steps under Peru Vision 2030 to reduce carbon emissions in the country. This trend is also expected to increase the usage of LED luminaires as they are energy efficient and have lower carbon footprints.
According to 6Wresearch, Peru Outdoor LED Lighting Market size is projected to grow at a CAGR of 5.5% in terms of revenue during 2021-2027. Rise in consumer awareness and increasing demand for energy-efficient lighting systems are driving the growth of outdoor LED lighting market in Peru. Due to this demand, more manufacturers have started offering outdoor LEDs to attract customers from conventional products. Along with this, the growing interest in sustainable products would be another key driver for growth of outdoor LED lighting market in the country.
According to Akshay Kumar, Research Analyst, 6Wresearch, “The more than 100W segment is expected to lead the market during the forecast period as it is widely used across highways and roadways. The upcoming infrastructure projects such as new central highway, Juliaca corridor and Lima metro line no. 2 in Peru would also drive the growth of this segment. The increase in adoption of outdoor LED lighting is due to growing consumer awareness about energy efficiency and sustainable lighting solutions. Further, growing government initiatives to create awareness would drive growth of the outdoor LED lighting market in Peru. However, the outbreak of COVID-19 pandemic and the subsequent imposition of lockdown led to closure of manufacturing facility of leading OEM’s which impacted supply chain of outdoor LED lightings negatively.”
According to Shivali Sharma, Research Analyst, 6Wresearch, “The retrofit installation type segment has greater market revenue share as compared to new installation type for the year 2020 due to the increasing replacement of incandescent lamps in the existing infrastructures with energy-efficient light sources. Incandescent lamps are phased out and fixtures are being retrofitted with LED lamps. Although, the new installation type segment is projected to lead the outdoor LED lighting market as it is preferred by consumers due to long lifespan and low consumption of electricity.”
“Peru Outdoor LED Lighting Market (2021-2027)” report provides an in-depth analysis with 12 figures and 5 tables, covered in 68 pages. The report estimates and forecasts the overall Peru outdoor LED lighting market by installation types and by wattage types. The report provides an unbiased and detailed analysis of the on-going opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.