LED or Light Emitting Diode was first developed in 1962 by integrating three key elements which include gallium, arsenic and phosphorus. Since then, it has emerged as one of the rapidly-developing technologies. In UAE, LED lights are continuously replacing traditional sources of light owing to their numerous advantages which include affordability, recyclability, low power consumption and heat output, longer lifespan and minimal maintenance. A new research report titled “UAE LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the UAE LED lights market was worth SAR 472 Million in 2017. The report further expects the market to reach around SAR 998 Million by 2023, at a projected CAGR of nearly 13% over the forecast period.
UAE LED Lights Market Drivers/Constraints:
Product Type Insights:
On the basis of product type, the market is segmented as panel lights, downlight, street lights, bulbs and tubes, weather proof batten, spotlight, highbay fitting, flood lights and others. Amongst these, bulb and tubes account for the largest market share in UAE.
Application Insights:
Based on application, the market is segregated as high rise commercial buildings, supermarkets and malls, mid-rise commercial building, low rise residential building, residential colonies & labour cramps, and others. Currently, high rise commercial buildings exhibit a clear dominance in the UAE LED lights market, followed by supermarkets and malls, and mid-rise commercial building.
Competitive Landscape:
The market is highly concentrated in nature with the presence of three manufacturers which together account for the largest share in the market and compete in terms of quality as well as prices. There is a rigid competition in the market which makes it difficult for small players to enter. Some of the leading players operating in the market are:
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