Lighting products market across BRIC countries expected to register strong growth
The lighting products market across BRIC nations is expected to register strong growth to 2016 owing to rapid growth in several end user markets.
With all the BRIC nations showing a strong growth rate in the construction sector, which is the end user for lighting products, demand and subsequent production of these are expected to show strong growth in the coming years. Both demand and production are expected to grow at the highest CAGR in Russia and China followed by Brazil and India.
In Brazil, the lighting products market value is expected to grow to $2,808.9 million in 2016, at a CAGR of 4.6% during the forecast period. The production of lighting products valued US$2,911.8 million in 2011, and is projected to increase at a CAGR of 3.7% over the forecast period.
In Russia, the market value is expected to reach $1,926.8 million in 2016, growing at a CAGR of 8.0% during the forecast period. The production of lighting products in Russia valued US$149.4 million in 2011, and is projected to increase at a CAGR of 11.7% over the forecast period.
The Indian lighting products market is projected to value US$623.0 million in 2016, after registering a CAGR of 4.5% over the forecast period.
The Chinese lighting products market is expected to grow at a CAGR of 6.1% during the forecast period, to reach the value of US$17.91 billion in 2016. The production of lighting products in China is projected to grow at a CAGR of 7.3% during the forecast period, to reach US$66.87 billion in 2016.
The full report ‘Lighting Products Market in the BRIC Countries – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016’ is available from BRICdata. Click here for more details.
