Latin America and the Caribbean: Market for Residential, Commercial and Industrial Lighting Fixture 2024

Market Size for Residential, Commercial and Industrial Lighting Fixture in Latin America and the Caribbean

The Latin American market for residential, commercial and industrial lighting fixture expanded rapidly to $X in 2021, increasing by 11% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Residential, Commercial and Industrial Lighting Fixture in Latin America and the Caribbean

In value terms, production of residential, commercial and industrial lighting fixture rose sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 28%. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth remained at a lower figure.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in Latin America and the Caribbean

In 2021, overseas shipments of residential, commercial and industrial lighting fixture decreased by -10.3% to X units, falling for the fourth consecutive year after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 27% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of residential, commercial and industrial lighting fixture amounted to $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -19.2% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 29% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates fixture structure, finishing at X units, which was approx. 94% of total exports in 2021. Brazil (X units) took a little share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of residential, commercial and industrial lighting fixture. Brazil experienced a relatively flat trend pattern. While the share of Mexico (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest residential, commercial and industrial lighting fixture supplier in Latin America and the Caribbean, comprising 98% of total exports. The second position in the ranking was taken by Brazil ($X), with a 0.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at +5.4%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 15% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the export price increased by 18% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.5%).

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in overseas purchases of residential, commercial and industrial lighting fixture, when their volume increased by 29% to X units. The total import volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of residential, commercial and industrial lighting fixture soared to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the largest importing country with an import of about X units, which recorded 33% of total imports. Mexico (X units) ranks second in terms of the total imports with an 11% share, followed by Colombia (11%), Chile (8.6%), Peru (7%) and Argentina (4.6%). Ecuador (X units), Guatemala (X units), Bolivia (X units), Costa Rica (X units) and Honduras (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the residential, commercial and industrial lighting fixture imports, with a CAGR of +14.1% from 2012 to 2021. At the same time, Guatemala (+11.1%), Colombia (+10.5%), Ecuador (+10.2%), Bolivia (+8.5%), Honduras (+7.7%), Costa Rica (+4.2%), Peru (+3.8%), Chile (+3.0%) and Mexico (+2.2%) displayed positive paces of growth. Argentina experienced a relatively flat trend pattern. While the share of Brazil (+17 p.p.) and Colombia (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Chile (-1.5 p.p.), Argentina (-2.9 p.p.) and Mexico (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, with a combined 57% share of total imports. These countries were followed by Colombia, Peru, Argentina, Ecuador, Guatemala, Costa Rica, Honduras and Bolivia, which together accounted for a further 29%.

Guatemala, with a CAGR of +11.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, jumping by 18% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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