By BizLED Bureau
Apr 5, 2016: According to a recent report, LED (light- emiting diode) light fixture market is riding high in the Middle East area which is positioned to record a compound annual growth rate (CAGR) of 13% from 2015 right through 2022 with regards to revenues. The sole LED lighting event of Middle East, LuxLive will be held at the Abu Dhabi National Exhibition Centre from 13th April, 2016
Display of recent LED lighting innovations
The two-day conference and exhibition will be displaying the recent LED lighting innovations across top 40 brands and hold a huge outreach educational plan, clearing how to identify LEDs. As per Strategies Unlimited, the MEA luminaire market was valued at $2.35in 2015, excluding lamps.
The area was later to accept LED lighting as compared to other regions across the world, like Europe, but its implementation is speeding a number of vertical markets like industrial and commercial advancements.
The director of Research LEDs and Lighting, Philip Smallwood said that they are viewing marvellous growth in the LED luminaire market in the MEA area at current times and expect this to carry on all through 2022. He stated that while LED luminaires form 20 % of the current market, by 2022 it is forecasted that they will include just about 49% of the entire market.
Regardless of the drop in the oil price over the past few years, the Middle East marketplace for LED fixtures and systems is likely to stay buoyant as government investments steadies and private investments go on.
Furthermore, events like the Fifa World Cup in Qatar in 2022 and the Expo in Dubai in 2020 will bring solid momentum to expansion in the GCC region, particularly in the hospitality segment. The latter is progressively using the newest lighting thus, controlling as a differentiator.
Fall in energy subsidies
The fall in energy subsidies by several governments in the area and varying attitudes to the appropriateness of LED lighting in Middle East form the other factors responsible for driving the market to LEDs.
the senior lighting designer of KEO International Consultants,Abu Dhabi, Farad Izhar said that there is a mindset particularly in Abu Dhabi that LEDs are costly and aren’t worthy enough. However, such attitude is gradually changing, he added.
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Furthermore, he said that everybody knows, for example, that LED luminaires can more than handle with the Middle East’s high temperature conditions. If we are suggesting to replace LEDs for compact fluorescent, we demonstrate clients that though LEDs cost a little higher, there is saving in the long run.