Tuesday 21 September 2021

Mideast lighting fixtures market set to hit $6.5bn in 2027

DUBAI, 13 days ago

The Middle East's lighting fixtures market is set for a post-covid rebound, growing annually at 5% from 2021-2027, a new report stated ahead of the Light Middle East expo. 
A premier exhibition and conference for lighting, design and technology in the region, Light Middle East kicks off on September 28 and runs for the next two days at the Dubai World Trade Centre. 
The September 2021 report, authored by global analysts 6Wresearch, said revenues for the region’s lighting fixtures market will hit $6.5 billion in 2027, compared to around $5 billion in 2020.
Renewed investment in infrastructure projects in the residential and commercial sector along with government measures to promote the installation of energy efficient lights has injected fresh impetus into the market, with Saudi Arabia and the UAE key contributors. 
According to the report, Saudi comprised 29% of the Middle East market in 2020 ($1.45 billion), with the UAE taking a 15% slice ($750 million).
While the market declined in value last year compared to 2019 ($5.2 billion) due to covid-19 lockdowns and suspension of economic activity, the region’s outlook looks much brighter from 2022 ($5.1 billion) onwards, when it will begin its steady climb. 
This comes as welcome news to exhibitors and visitors alike who are gearing up for the upcoming Light Middle East trade fair, said the organisers. 
The annual three-day event will feature around 100 exhibitors and brands from 23 countries showcasing the latest decorative, architectural, technical, outdoor, and indoor lighting solutions with a core focus on LED technology, IoT, and human-centric lighting.
Light Middle East also returns with its Thinklight conference featuring more than 30 speakers across eight verticals, certified workshops, and the Light Middle East Lighting Design Recognition Awards.
Dishan Isaac, Senior Show Manager of Light Middle East, said: “The Middle East’s growing construction market, government investment initiatives, and the ongoing transition from conventional lighting to Solid-State Lighting are all drivers of the regional lighting fixtures market.
Major regional projects under execution such as Saudi’s $500 billion mega project Neom, along with Dubai’s Mohamed Bin Rashid City ($21 billion), Dubai Land Mixed Use Development ($71 billion), and Dubai South Mixed Use Development ($4.5 billion) will provide plenty of tenders for lighting suppliers in the coming years.
The UAE’s thriving hospitality sector also continues to forge ahead with ongoing projects, with no less than nine skyscraper hotels due for completion by 2025, including the Dubai Marriot Hotel Citywalk, and Golden Tulip Deira in Dubai; and Nobu Hotel, Shangri-La Hotel, and Viceroy Hotels, Resorts & Residences in Abu Dhabi.
"Regionally, we’re seeing a lot of activity in the industrial verticals, along with commercial, retail, and hospitality, while education and healthcare will attract a lot of investment in the coming years," noted Issac.
"As the premier trade and networking event serving the regional lighting design community, Light Middle East serves as a key conduit for the flow of information about the benefits of the latest technological innovations that are driving change in the industry," he added.
The upcoming expo will feature leading UAE suppliers and consultants such as Abensal, Cinmar, Creation Gulf, Elettrico Lighting, Ledvance, Lumentek, Scientechnic, and Zeta Lumen; along with top international lighting brands including ACB Iluminacion, Centrsvet, Korner, Ledvance, Perdix, Lumenova, Luz Negra, and Intiled.-TradeArabia News Service



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