At 5.9% CAGR, South & Central America Explosion Proof Lighting Market is Projected to be Worth US$ 22.08 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America explosion proof lighting market was valued at US$ 13.96 million in 2023 and is expected to reach US$ 22.08 million by 2031, registering a CAGR of 5.9% from 2023 to 2031. Increasing preference for handheld led lights and IoT-based intelligent lighting systems are among the critical factors attributed to drive the South & Central America explosion proof lighting market growth.

Easy availability and energy efficiency are the key benefits of LED lighting. Moreover, these lighting systems come with simpler maintenance requirements compared to fluorescent and other conventional lighting solutions. The increasing awareness of energy efficiency among end users and stringent regulations imposed by governments to favor certain energy sources propel the demand for energy-efficient products. The market for lighting systems is rapidly evolving from traditional lighting technology to connected lighting systems with the surging popularity of handheld lighting. Explosion-proof handheld LED lights are lightweight and portable lights, weighing less than 2 pounds. These lights typically come with blunt cut, tamper-proof features, ergonomic grip, and a convenient hanging hook, making them suitable for hazardous locations. Handheld LED lights ensure workers' safety by providing appropriate visibility at the worksite. Industries such as oil & gas, power, energy, chemicals, petrochemicals, and mining are facing challenges related to the installation of suitable lighting systems. Moreover, highly complex working conditions in these industries make the installation and operation of a proper lighting system difficult, which fuels the demand for handheld explosion-proof LED lighting systems. Portable explosion-proof handheld lights serve as better alternatives when the fixed on-site lighting system is insufficient to meet worker's needs. Thus, the increasing preference for handheld LED lights contributes significantly to the growth of the explosion-proof lighting market.

On the contrary, the high costs associated with development, installation, upgrades, and maintenance hamper the growth of South & Central America explosion proof lighting market.

Based on product type, the South & Central America explosion proof lighting market is segmented into fixed lighting, small and portable lighting, and mobile lighting. The fixed lighting segment held 74.9% market share in 2023, amassing US$ 10.46 million. It is projected to garner US$ 16.82 million by 2031 to register 6.1% CAGR during 2023-2031. The fixed lighting segment is further sub segmented into linear light, flood light, high bay light, bulkhead light, emergency light, and others.

By light type, the South & Central America explosion proof lighting market is segmented into LED light, high-intensity discharge light, fluorescent light, and incandescent light. The LED light segment held 70.6% market share in 2023, amassing US$ 9.86 million. It is projected to garner US$ 15.81 million by 2031 to register 6.1% CAGR during 2023-2031.

Based on end user, the South & Central America explosion proof lighting market is segmented into oil & gas, chemical, pharmaceutical, energy, manufacturing, food & beverages, military & defense, transportation & logistics, clean & medical, paint shop & application technology, agriculture & farming, public & community, and others. The oil & gas segment held 16.1% market share in 2023, amassing US$ 2.25 million. It is projected to garner US$ 4.00 million by 2031 to register 7.5% CAGR during 2023-2031.

By country, the South & Central America Explosion Proof Lighting Market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 50.4% share of South & Central America explosion proof lighting market in 2023. It was assessed at US$ 7.04 million in 2023 and is likely to hit US$ 11.88 million by 2031, registering a CAGR of 6.8% during 2023-2031.

Key players operating in the South & Central America explosion proof lighting market ABB Ltd, Eaton Corp Plc, Pepperl+Fuchs SE, ABTECH, Signify Holding (Philips), Hubbell Inc, Emerson Electric Co, Rockwell Automation Inc, Adolf Schuch GmbH, Airfal International, and R. STAHL AG, among others.

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