LTME 2018 Lighting Fixture Market 04 - Dubai... · 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F...
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LIGHTING FIXTURE MARKET 19 15.1% 11.7% 13.5% 30.3% 8.7 % US$ ($Billion) MIDDLE EAST of electricity consumption in the Middle East Middle East Lighting Fixture Market Revenue Share, By Countries With the transition from conventional lamps to LED and from LED lamps to fittings, the UAE witnessed the highest penetration of LED with adoption in almost all the major projects across the country. Saudi Arabia accounted for the largest share among Middle East countries, with the Kingdom capturing a 30.3% share of lighting fixture market pie in 2017, followed by Turkey, UAE, Iran and others. Countries such as the UAE, Jordan, Lebanon and Qatar are growing rapidly, in contrast to Kuwait, Bahrain and Oman which are gradually picking up the pace. The industrial sector accounted for the largest revenue share among all industry verticals. The vertical witnessed highest deployment of lighting fixtures in the Middle East. The industrial vertical was followed by the commercial vertical in which high demand was witnessed primarily among commercial offices, shopping mall, retail outlets and showrooms. Education and healthcare, on the other hand are merging strongly across the region and registered higher growth as compared to other sectors in commercial vertical. billion by 2024 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F 2024F The market is expected to reach Lighting contributes around 4.1 4.4 4.8 5.2 5.8 6.4 7.2 7.9 8.7 40.3% 30.6% 19.7% 9.4% Industrial Commercial Outdoor Others DUBAI INDUSTRIAL EXPO 2020 & COMMERCIAL SECTOR CONSTRUCTION BOOM Major upcoming Middle East events such as the Growing is anticipated to act as a catalyst for the growth of lighting fixture market. Major infrastructure development across the UAE including in buildings, stadiums, transport network, and hotels would be witnessed in the near-future. Middle East countries – primarily Saudi Arabia, the UAE, Oman and Bahrain are investing substantially in manufacturing and industrial sector primarily in automotive and petrochemical sectors. On the other hand, the commercial sector including hospitality, commercial offices, retail, entertainment, education and healthcare is witnessing rapid expansion across the Middle East leading to high adoption of lighting fixtures. Substantial investments in construction and infrastructure sectors across countries such as the UAE, Saudi Arabia, Turkey. The UAE is expected to emerge as the leader in total construction contractor awards in the GCC for 2018, followed by Saudi Arabia. In 2018, an estimated US149$ billion worth of contracts are expected to be awarded with US79$ billion worth of construction contractor awards attributed to buildings in the Gulf region, followed by energy projects (US45$ billion), and infrastructure (US25$ billion). Middle East Lighting Fixture Market Drivers Middle East Lighting Fixture Market Outlook CAGR 10.3 during 2018 - 2024 % Report by: Email: [email protected]
Transcript of LTME 2018 Lighting Fixture Market 04 - Dubai... · 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F...
LIGHTING FIXTURE MARKET
19
15.1%
11.7%
13.5%
30.3%
8.7
%
US$
($Billion)
MIDDLE EAST
of electricity consumption inthe Middle East
Middle East Lighting Fixture Market Revenue Share, By Countries
With the transition from conventional lamps to LED and from LED lamps to fittings, the UAE witnessed the highest penetrationof LED with adoption in almost all the major projects across the country.
Saudi Arabia accounted for the largest share among Middle East countries, with the Kingdom capturing a 30.3% share of lighting fixture market pie in 2017, followed by Turkey, UAE,Iran and others. Countries such as the UAE, Jordan, Lebanon andQatar are growing rapidly, in contrast to Kuwait, Bahrain and Oman which are gradually picking up the pace.
The industrial sector accounted for the largest revenue share among allindustry verticals. The vertical witnessed highest deployment of lighting fixtures in the Middle East.
The industrial vertical was followed by the commercial vertical in which high demand was witnessed primarily among commercial offices,shopping mall, retail outlets and showrooms.
Education and healthcare, on the other hand are merging strongly across the region and registered higher growth as compared to other sectors in commercial vertical.
billion by 2024
2016 2017 2018E 2019F 2020F 2021F 2022F 2023F 2024F
The market is expected to reach
Lighting contributesaround
4.1 4.4 4.8 5.2 5.8 6.4 7.2 7.9 8.7
40.3%
30.6%
19.7%
9.4%Industrial Commercial Outdoor Others
DUBAI
INDUSTRIAL
EXPO 2020
& COMMERCIAL SECTORCONSTRUCTION BOOM
Major upcoming Middle East events such as the
Growing
is anticipated to act as a catalyst for the growth of lighting fixture market. Major infrastructure development acrossthe UAE including in buildings, stadiums, transport network, and hotels would be witnessed in the near-future.
Middle East countries – primarily Saudi Arabia, the UAE, Oman and Bahrain are investing substantially in manufacturing and industrial sector primarily in automotive and petrochemical sectors.
On the other hand, the commercial sector including hospitality, commercial offices, retail, entertainment, education and healthcare is witnessing rapid expansion across the Middle East leading to high adoption of lighting fixtures.
Substantial investments in construction and infrastructure sectors across countries such as the UAE, Saudi Arabia, Turkey. The UAE is expected to emerge as the leader in total construction contractor awards in the GCC for 2018, followed by Saudi Arabia.
In 2018, an estimated US149$ billion worth of contracts are expected to be awarded with US79$ billion worth of construction contractor awards attributed to buildings in the Gulf region, followed by energy projects (US45$ billion), and infrastructure (US25$ billion).
Middle East Lighting Fixture Market Drivers
Middle East Lighting Fixture Market Outlook
CAGR10.3during 2018 - 2024
%
Report by: Email: [email protected]
