Feb 2, 2017: According to a Future Market Insights report, Middle East LED and OLED lighting products and displays market is projected to register a healthy CAGR of 14.3% and 4.9% respectively in terms of value during 2015–2025, and will reach US$ 7,132.6 million by 2025.
Middle East LED and OLED lighting products markeOn the basis of product type, Middle East LED and OLED lighting products market has been segmented into solar and conventional. Solar segment accounted for 6.5% value share of the market in 2014 and is expected to register a CAGR of 17.8% over the forecast period.
Segments of LED and OLED display market
By product type, Middle East LED and OLED display market has been segmented into mobile displays, consumer TV displays and outdoor LED displays. Mobile displays segment accounted for 15.4% value share in 2014 and is expected to register a CAGR of 7.8% over the forecast period. However, in terms of value, consumer TV segment is projected to be dominant by 2025, accounting for market share of 75.7%, as compared to mobile displays segment, with 20.7% share.
On the basis of end use, Middle East LED and OLED lighting products market is segmented into residential and commercial; among these, commercial segment accounted for a value share of 67.1% in 2014, which is projected to decrease to 65.2% by 2025. In Middle East LED and OLED lighting products market, residential segment is projected to exhibit the highest CAGR of 14.8% over the forecast period.
In Middle East LED and OLED displays market, outdoor LED displays segment is further segmented on the basis of product type and colour display. On the basis of product type, outdoor LED display segment is further sub-segmented into LED Billboards, LED mobile panels, LED video walls and LED traffic lights displays.
Growth of the market
Growth of the Middle East LED and OLED lighting products and displays market is mainly driven by rising demand due to government regulations, increasing focus on R&D activities and increasing quality construction projects, including shopping malls and multiplexes. Other trends driving growth include increasing shift from AMOLED display technology to OLED display technology and increasing investments by key players in developing regions.
Kingdom of Saudi Arabia dominates
The Kingdom of Saudi Arabia (KSA) dominated the Middle East lighting products market with over 32.6% market share in GCC region in 2014 and is anticipated to remain dominant by 2025, followed by UAE and Qatar. Among all countries in GCC region, KSA market is anticipated to register the highest CAGR over 2015–2025, followed by UAE. This is mainly attributed to increasing investments in green infrastructure in the Middle East. Turkey dominated the Middle East lighting products market with over 53% market share in the Levant region in 2014, and is anticipated to remain dominant by 2025, followed by Israel and Egypt. Among all countries in Levant region, Turkey market is anticipated to register the highest CAGR over 2015–2025, followed by Egypt, due to decreasing cost and enhanced performance of LED products.
Key players in the Middle East LED and OLED lighting products and displays market include GE Lighting, LLC, OSRAM Licht AG, Daktronics Inc., and Samsung Electronics Co. Ltd. Major participants are focusing on R&D activities to provide innovative and environment-friendly products to attain sustainability. These key players are also focusing on expansion and strategic acquisitions to strengthen their product portfolio.
“Industry Expert from LUCECO (Nexus Industries Ltd.) stated that increasing investment in green infrastructure in the Middle East is expected to offer lucrative opportunities to providers of environmentally friendly and energy-efficient products such as LED lighting solutions”.