LED lighting market set to soar
Increased demand for energy efficient lighting solutions in the Gulf Cooperation Council (GCC) is spurring fresh growth for the LED market, as the sustainable and long-lasting luminaire looks to dominate the regional architectural and public lighting landscape.
Analysts Frost & Sullivan estimate that the GCC’s LED (light-emitting diode) market was worth $900m in 2015, comprising 38% of the region’s total $2.4bn lighting fixtures market for the year.
As regional governments implement eco-friendly green building regulations along with public and street light retrofitting programmes, demand for LED technology is expected to grow by 16-17% annually over the next five years.
According to Frost & Sullivan, more than 60% of all inquiries for lighting in the region are now for LED systems, indicating that smart and sustainable solutions are the way forward in place of traditional incandescent and fluorescent bulbs.
Smart and intelligent lighting solutions will also be the key theme running throughout Light Middle East 2016, the region’s largest trade show dedicated to lighting design and technology.
The 11th edition of the three-day event will take place from October 31 to November 2 at the Dubai International Convention and Exhibition Centre, and is expected to feature more than 425 exhibitors from 30 countries, all of which will eagerly showcase their latest wares to a market which is facing a paradigm shift in new technology adoption.
“As the Middle East continues to switch to sustainable lighting solutions, the dynamics of the regional market is transforming rapidly,” said Ahmed Pauwels (pictured), CEO of Messe Frankfurt Middle East, the organiser of Light Middle East.
“The Gulf region’s lighting fixtures market alone will be worth $3.5bn by 2020, and with new trends such as connected lighting and LED’s convergence with information technology, we can expect to see some exciting new innovations at Light Middle East 2016.”
Article source: http://www.thepeninsulaqatar.com/business/qatar-business/388081/gcc-s-900m-led-market-on-track-for-double-digit-growth