LED boosts GCC lighting market despite oil slump
The rapid uptake of LED lighting is driving the GCC's lighting sector even as oil prices impact development projects in the region
The rapid uptake of LED lighting is driving the GCC's lighting sector even as oil prices impact development projects in the region.
Global manufacturing firms and those regionally active reportedly anticipate double-digit growth in their business volume over the next fiscal year.
Carles Gutierrez, the Middle East sales director for LEDS-C4, said the company's positive performance so far in 2016 could boost its sales revenues for the year.
Gutierrez was speaking on the eve of Light Middle East 2016, a Dubai exhibition set to be hosted between 31 October and 2 November.
According to a statement in Saudi Gazette, Gutierrez added: "The regional lighting industry is vital and constantly changing, and LED lighting is a booming innovation which is currently on the fast track.
"Combining efficiency with lighting quality and output is the newly trending demand as customers are more environmentally aware and well educated about the benefit of having green buildings.
"This is good news for us and 2016 has been a very successful year so far. We are looking at 12% sales revenue growth from last year's results," Gutierrez added.
Rene Joppi, general manager for British manufacturer Mackwell's Middle East operations, said expansion and hospitality projects will continue to drive regional growth.
The company has worked on projects such as Dubai Mall, Address Boulevard Hotel, and Mall of the Emirates in the region.
"It's our biggest regional market beside our home market in the UK.
"Our business plan for the Middle East focuses on consistent and steady growth within the next three years to double the business volume of the region compared to today," Joppi added.