Energy efficient lamps market and ballasts market in Latin America are likely to reach $3,552.4 million and $1,036.1 million respectively by 2018

USA: According to a new market report "Energy Efficient Lamps and Ballasts Market - Latin America (South America, Caribbean, Mexico, Brazil, Argentina, and Central America) Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2012 - 2018," published by Transparency Market Research, the market for energy efficient lamps in Latin America is expected to reach $3,552.4 million by 2018, growing at a CAGR of 23.2 percent from 2012 to 2018.

The Latin America ballasts market is expected to grow at a CAGR of 24.7 percent from 2012 to 2018, and reach a market size worth $1,036.1 million by 2018.

The lighting market globally is witnessing a shift towards energy efficient lighting solutions, with the Latin American region showing high potential for growth. The Latin America energy efficient lighting market is expected to expand by 250 percent from 2012 to 2018.

The LED lamps market, which is the fastest growing segment, is expected to record a rise of almost 50 percent in its market share within the Latin America energy efficient lighting market during the forecast period.

Among all the countries in the Latin American region, Brazil is the most attractive market with highest growth potential due to the upcoming FIFA World Cup in 2014 and the Olympics in 2016. In Brazil, along with preparations underway for these two mega events there is an underlying energy crisis that the country is facing, which in turn is propelling the demand for energy-efficient lighting solutions.