Currently, the governments in the region are leading the way by replacing the old lights with LED technology, followed by hotels, malls and showrooms, as these sectors have plenty of lights with high-watt consumption.
As per reports, the UAE lighting industry alone is now worth one billion dirhams. Energy-efficient lighting products constitute about 20 per cent of that, but is estimated to grow at a much higher annual growth rate of 300 per cent in 2016 and beyond due to new regulations on use of conventional lighting.
Some industry facts:
Global lighting market is set to grow at a CAGR of 13% until 2018, and UAE will
contribute to this growth because of its projects.
Global LED market is forecasted to have an annual growth of 5% by 2016
and 3% annually until 2020.
The regional markets will experience growth as global market is set to
be worth USD350 million by 2017.
UAE has plenty of upcoming and developing projects and by 2020 is set to reach
over USD200 billion worth of investments in UAE’s power sector.
The projects will increase the demand for energy-efficient lighting.