The latest report by IMARC group titled, “UAE LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the market reached a value of SAR 400 Million in 2016, growing at a CAGR of more than 18% during 2009-2016. This strong growth in the sales of LED lights can be accredited to the rising awareness about numerous advantages offered by them. They are more energy- and cost-efficient than the conventional lighting products with a significantly longer lifespan. As a result, LED lights are extensively replacing the traditional sources of lighting and are now widely available in the UAE market.
Highlights of the UAE LED lights market:
- Government’s endorsement of sustainable development and provisions for the use of LED lights in the region acts as a major catalyst for the market growth.
- Infrastructural development in various sectors remains another factor driving the LED lights market in the UAE.
- Panel lights represent the most popular type of LED lights in the UAE.
The UAE LED lights market is driven by a number of favourable factors. Infrastructural development in the retail, industrial and commercial sectors are leading to the growth of the market. These developments can be attributed to rising urbanisation, establishment of malls, retail shops, etc., and the upcoming events in the UAE, like the UAE World Expo in 2020. Further, the emergence of the entertainment sector in the region is also expected to boost the demand for LED lights.
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The UAE government is aiming to phase out the traditional lights and is actively encouraging the expansion of the LED lights market. Issuing regulations, providing tax rebates, prohibiting the sales of inefficient lights and implementing retail campaigns are some of the steps taken by the government. One of the initiatives was the ‘I LED the way’ campaign in 2016 for promoting the use of LED lights. During this campaign, the LED products were discounted at 25% for a week and the consumers were offered environmental-friendly disposal solutions for their old light bulbs. As a result of these factors, the market is expected to continue its upward trajectory, reaching a value of around SAR 900 Million by 2022.
On the basis of type, panel lights represent the most popular product type. Other major products include down lights, flood lights, street lights and others (bulbs, strips, flood lights and tube lights). The commercial sector is the major application segment of LED lights in the UAE, followed by residential, industrial and others. On evaluating the competitive landscape, it is found that Philips, General Electric and Osram are they key players operating in the market.
To view the report summary and Table of Contents, click on: http://www.imarcgroup.com/led-lights-market-uae
The report by IMARC Group has examined the UAE LED lights market on the basis of:
- Panel lights
- Down lights
- Food lights
- Street lights
- Tube lights
- General Electric
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