Market for Energy Efficient Lamps and Ballasts – The Publication Segments The Market Into Cfls, High

According to a new research report published by Transparency Market Research, a U.S.-based research and intelligence firm, the for Latin America energy efficient lamps and ballasts market is expected to reach US$3,510.1 million by the end of 2018. The report, titled "Energy Efficient Lamps and Ballasts Market – Latin America Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2012 – 2018", also indicates that the market is expected to grow at a healthy CAGR of 23.0% during the forecast period from 2012 to 2018.

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However, a sluggish growth rate is anticipated after a decade owing to the long life span of energy efficient lamps such as compact fluorescent lamps (CFL), and light emitting diode (LED) lamps. Most of the countries in Latin America have proactively participated in the drive to gradually phase out the use of incandescent bulbs and lamps. This has created significant opportunities for the energy efficient lamps and ballast market to capitalize on. The demand for energy efficient lamps is mostly driven by the demand for replacement of obsolete items and new installments in Latin America.

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The market for energy efficient lamps and ballasts in Latin America has been analyzed by the report on the basis of different product categories that are currently available in the market. The publication segments the market into CFLs, high intensity discharge (HID) lamps, fluorescent lamps, and LED lamps in terms of product types. According to the findings of the report, among these segments the market for LED lamps and CFLs is projected to register maximum demand during the forecast period from 2012 to 2018. Fluorescent lamps accounted for maximum demand in the market in 2012. This rise in demand was greatly contributed by the low cost of energy efficient lamps. However, trends indicate that significant reduction in the price of CFLs and surge in demand for energy efficient lamps is expected to bolster growth in the market in the forthcoming years. LED lamps are projected to register maximum demand in the energy efficient lamps and ballasts market in Latin America by the end of 2018.

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A similar trend is observed across the entire product segment of the ballasts market too. The different types of ballasts considered in the market estimate and analysis are: magnetic fluorescent ballasts, electronic fluorescent ballasts, CFL ballasts, LED driver modules, magnetic HID ballasts, and electronic HID ballasts. Magnetic ballasts are seeing a sharp drop in growth due to their energy inefficiency and development of technologically advanced lighting solutions, such as LED driver modules.

The various geographic regions analyzed in the report are: South America, the Caribbean, Brazil, Mexico, Argentina, and Central America. Among all, Argentina and Brazil are in advanced stage of transformation to energy efficient lighting solutions, as prescribed by the United Nations Environment Program (UNEP). Brazil, Mexico, and Argentina are the fastest growing regions for energy efficient lamps and ballasts market. The Olympics in 2016 and the FIFA World Cup in 2014 are key drivers for market growth in Brazil. The Caribbean and Central America are however expected to witness steady growth towards the latter half of the forecast period, largely driven by assistance from neighboring countries for transformation to energy efficient lamps and ballast. Venezuela, which received assistance from Cuba, is now in collaboration with Cuba, providing assistance to Bolivia for phasing out of GLS lamps.