Market Forecast By Installation Type (New, Retrofit), By Wattage Type (Less Than 50W, 50W To 100W, More Than 100W) And Competitive Landscape
According to 6Wresearch, Peru Outdoor LED Lighting Market size is projected to grow at CAGR of 7.5% during 2021-27. However, due to the outbreak of COVID-19 pandemic in 2020, the market witnessed a slow growth due to government restrictions, supply chain disruptions and slowdown in production process. The infrastructure projects slowed down but the market growth is expected to rebound in 2021. Along with this, government initiatives to mitigate the impact of the pandemic helped in continuation of construction activities and hence, the market is anticipated to register significant growth in the forecast period.
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.
Market Analysis by Types
By installation types, retrofit installation type segment has greater market revenue share as compared to new installation type for the year 2020
Key Highlights of the Report
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