Mexico Led Lighting Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Mexican LED lighting market is expected to grow at a CAGR of 17.1% over the forecast period (2021 - 2026). The growing demand for energy-efficient lighting systems, declining prices of LED products, and stringent government regulations are major factors driving the adoption of LED lighting in Mexico. In the country, LEDs have been undergoing rapid technological and economic development as a new source of lighting, motivating further investment in the sector.
Key HighlightsThe Mexican LED lighting market is highly fragmented, with the presence of a large number of domestic as well as international players in the country. Due to the fragmented nature of the market, the competition among the players is high.
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