GCC lighting market to reach $3.5bn by 2020
The lighting-system market is expected to increase in size over the next five years, with a compound annual growth rate of 11% to 12%
According to market intelligence firm, Frost & Sullivan, the GCC’s lighting systems market is projected to reach $3.5bn by 2020.
Demand for smart and green infrastructure technology by the region’s governments is helping to drive adoption of light-emitting diode (LED) and solar lighting technologies.
Frost & Sullivan has projected a compound annual growth rate (CAGR) of 11% to 12% for the GCC's lighting-systems market over the next five years. The sector is currently worth an estimated $2.5bn.
Commenting on the development, Ahmed Pauwels, CEO of Messe Frankfurt Middle East, organiser of Light Middle East, said: “Growing investments into regional large-scale civil and commercial infrastructure projects are driving demand for contemporary and sustainable lighting solutions.”
He added: "Countries are now diversifying into manufacturing and services sectors and more and more investments are focused on infrastructure sectors like public transport, roadways, and sea ports to improve connectivity and regional trade and commerce.”
The rising popularity of LED comes as lighting accounts for roughly 25% of total energy consumption in the Middle East. According to Frost & Sullivan, lighting in the GCC market accounts for a higher proportion of electrical usage than anywhere else in the world.
The marketing firm asserts that the region could save up to five megatonnes of carbon dioxide emissions annually by implementing LED lighting systems.
"LED and solar lighting technology will gather pace at the expense of fluorescent and conventional lighting solutions. The good news is, LED technology will once again be at the forefront of the latest solutions from the world's leading lighting manufacturers and suppliers at this year's edition of Light Middle East," said Pauwels.