Economic diversification and green infrastructure investments have place the GCC lighting systems industry on a double-figure progress course, according to analysts approximating the market to the amount of $3.5 billion by 2020.
At present valued at approximately $2.5 billion, the GCC’s lighting systems industry is anticipated to develop at a compound annual growth rate (CAGR) of 11 to 12% in the next five years, strengthened by high demand in the Qatar, Saudi Arabia and UAE.
Lighting expenditure across the region is also being urged by escalating preference among governments for smart and green infrastructure solutions, which is making demand for the most recent in light emitting diodes (LED) and solar lighting technologies.
The big modification to LED arrives as lighting accounts for 25% of total energy utilization in the Middle East, a higher electrical usage than somewhere else in the world. Nearly five mega tonnes of carbon dioxide emissions can be saved yearly by substituting to LED in GCC. The trend to sustainable investments and among others will be underlined at this year. Escalating investments into regional large-scale civil and commercial infrastructure projects are driving demand for contemporary and sustainable lighting solutions.
Nations are currently diversifying into manufacturing and services divisions. Progressively investments are concentrated on infrastructure industries like roadways, sea ports and public transport to upgrade connectivity and regional dealings and industries.
LED and solar lighting technology will assemble pace at the cost of fluorescent and normal lighting solutions. Good news is, LED technology will once more be at the front position of the newest solutions from the world’s top lighting manufacturers and suppliers.
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