According to the latest report by IMARC Group, titled "UAE LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the UAE LED lights market reached a value of AED 3,152 Million in 2021. A light-emitting diode (LED) refers to a semiconductor device that is generally equipped with electronics. It is an energy-efficient solution that is widely used in the manufacturing of lighting devices. In comparison to the traditional incandescent bulbs, these lights offer an excellent color rendering index (CRI) in a cost-efficient manner. Apart from this, these lights have a relatively longer lifespan with little to no maintenance. Additionally, due to the easy product availability through online and offline organized distribution channels, along with the rising preference for customizable LED lighting solutions, LED lights are gaining widespread prominence across the country.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
UAE LED Lights Market Trends:
The market in UAE is primarily driven by the increasing awareness regarding sustainable development among the masses. This has led to the rising adoption of LED lights as they are eco-friendly and provide the same illumination output as traditional bulbs. In line with this, the increasing number of infrastructural development projects across the country have bolstered the demand for the product significantly. Along with this, various technological advancements, such as the introduction of smart lighting solutions, are positively influencing the market growth. Furthermore, leading players are heavily investing in launching compact-sized LED light variants, which is creating a positive outlook for the market. The market is further driven by the widespread utilization of the product in the manufacturing of automobile lighting systems. Some of the other factors contributing to the market growth include a continual rise in electricity costs, continuous product innovations, and numerous initiatives undertaken by the government to promote the uptake of LED lights across the UAE. On account of the aforementioned factors, the market is anticipated to reach a value of AED 6,736 Million by 2027, expanding at a CAGR of 13.20% during 2022-2027.
- On the basis of the product type, the market has been segmented into LED panel lights, LED downlights, LED streetlights and others. Among these, LED panel lights account for the largest market share.
- Based on the application, the market has been classified into commercial, industrial, residential and others. Currently, the commercial spaces represent the leading market segment.
- The market has been bifurcated into import and domestic manufacturing. Presently, imports hold the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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