Market research firm Strategies Unlimited said the Middle East LED lighting market is booming. The research firm predicts that the annual compound growth rate (CAGR) of LED lighting technology revenues in the Middle East and Africa (MEA) will reach 13% by 2015-2022.
In 2015, the LED lighting market in the Middle East and Africa increased to $ 2.35 billion. This area will be used recently LED lighting. However, SU said that the LED lighting applications in the Middle East and Africa have accelerated many vertical markets, such as commercial, retail and industrial close to the “critical point”.
“As we have seen today, the MEA LED lighting market has grown significantly and is expected to continue until 2022. Today, LED lamps account for 20% of the total market,” said Philip Smallwood, director of LED and lighting research at Strategies Unlimited, a market research firm. , We expect that in 2022 they will account for about 49% of the total market. ”
Market research firm Strategies Unlimited expects the Middle East LED lighting and systems market to remain resilient and predict that the government will stabilize its investments in LED lighting and systems, and private investment will continue. International events such as the 2020 Dubai World Expo and the 2022 Qatar World Cup will bring economic growth to the Gulf region, especially in the hotel market. The hotel market will increasingly use the latest lighting and control.
Governments in the region cut energy subsidies to create demand for efficient energy. In addition, many government officials are changing their point of view – whether the Middle East is suitable for use with LED lighting.
“In Abu Dhabi, people think that LED lights are expensive and unwilling to use, but this attitude is slowly changed. For example, we all know that LED lamps can be used,” said Faraz Izhar, senior lighting designer at KEO International Consultant in Abu Dhabi. Improve the hot environment of the Middle East.
Compared with the traditional lighting, LED lights, the initial cost of a sharp decline. “If we were to replace a compact fluorescent lamp with an LED light, we would have saved a lot of money in the long run,” said Izhar. “Three years ago, the LED The price of the lamp is five times today.”
Next month, the region will have its own dedicated LED lighting project, in the two-day Luxlive Middle East lighting exhibition will showcase the latest LED lighting brand innovation (40 top brands), and held a large-scale publicity and education program, Detailed explanation LED products. April 13, 2016 at the Abu Dhabi National Exhibition Center. The UAE Energy Department finances this show.