GCC lighting systems market to surge to $3.5b by 2020
The trend towards sustainable investments will be highlighted at this year's Light Middle East, which will take place in Dubai from October 6 to 8.
Dubai - Currently valued at around $2.5 billion, the GCC's lighting systems market is projected to grow at a compound annual growth rate (CAGR) of 11 to 12 per cent in the next five years.
Economic diversification and green infrastructure investments have put the GCC lighting systems market on a double-digit growth path, with analysts Frost & Sullivan estimating the market to be worth $3.5 billion by 2020.
Currently valued at around $2.5 billion, the GCC's lighting systems market is projected to grow at a compound annual growth rate (CAGR) of 11 to 12 per cent in the next five years, powered by high demand in the UAE, Saudi Arabia and Qatar.
Lighting consumption across the region is also being driven by the increasing preference among governments for smart and green infrastructure solutions, which is driving demand for the latest in light emitting diodes (LED) and solar lighting technologies.
The big shift toward LED comes as lighting accounts for 25 per cent of total energy consumption in the Middle East, a higher electrical usage than anywhere else in the world, according to Frost & Sullivan. In the GCC, around five mega tonnes of carbon dioxide emissions can be saved annually by switching to LED.
The trend towards sustainable investments and many others will be highlighted at this year's Light Middle East, which will take place from October 6 to 8 at the Dubai International Convention and Exhibition Centre. The region's dedicated trade show for lighting design and technology is set to draw more than 350 exhibitors from 27 countries representing over 430 brands.
"Growing investments into regional large-scale civil and commercial infrastructure projects are driving demand for contemporary and sustainable lighting solutions," said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, organiser of Light Middle East. "Countries are now diversifying into manufacturing and services sectors. More and more investments are focused on infrastructure sectors like public transport, roadways and sea ports to improve connectivity and regional trade and commerce."
He added: "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," added Pauwels.
Several institutions in the UAE are already at the forefront of using sustainable technology that is compatible with green building and Leed certified buildings. Abu Dhabi Municipality (ADM) has saved close to $1 million through the installation of new energy efficient public lighting. LED lights will cut costs and decrease carbon dioxide emissions by about 75 per cent and cut down the need for maintenance by about 40 to 80 per cent, the ADM said.
The drive also aims to slash light pollution rates by 60 per cent and improve and develop a lighting network to help Abu Dhabi reach a ranking among the world's top cosmopolitan cities.
In addition, the ADM has implemented a number of projects in line with the Abu Dhabi sustainable lighting strategy including the installation of LED lighting system on Sheikh Zayed Street and Sheikh Zayed Tunnel.
The municipality has completed the replacement of traditional lighting with LED-powered decorative lighting on Sheikh Zayed Bridge, where power consumption plunged by 81 per cent. These and similar projects have generated total savings of around Dh3.3million, Abu Dhabi City Municipality said.
Now in its 10th edition, Light Middle East 2015 will have a host of special features, including the fast-growing Future Zone, a special section dedicated to innovative products and technologies and lighting solutions previously unseen in the region. Other popular returning features include the Light Middle East Conference on October 7 and 8, highlighting key issues impacting the regional lighting industry, while the Light Middle East Awards will celebrate the region's most outstanding lighting projects and designers.