UAE LED Lights Market Size, Growth Drivers, Trends, Demand and Forecast 2023-2028 | Electronics and Semiconductors Industry Report

The UAE LED lights market size reached AED 3,623.9 Million in 2022. Looking forward, IMARC Group expects the market to reach AED 7,613.1 Million by 2028, exhibiting a growth rate (CAGR) of 12.85% during 2023-2028.

A light-emitting diode (LED) is a semiconductor that emits visible light when an electrical current passes through. They are made from semi-conductive materials such as selenium or silicon. The lights help in reducing electricity bills by consuming less energy. These lights are cost-effective and offer a better color rendering index (CRI) than traditional incandescent bulbs.  In the UAE, LED lights are witnessing significant demand on account of easy product availability through offline and online distribution channels and shifting preference for customizable LED lighting solutions.

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Market Trends and Growth Drivers: 

The seven constituent monarchies in the UAE are undertaking numerous initiatives to promote the uptake of LED lights, which represents one of the primary factors bolstering the market growth. For instance, in 2018, the Roads and Transport Authority (RTA) in Dubai collaborated with Philips Lighting N.V., a Dutch multinational lighting corporation, to launch an 'intelligent' pedestrian lighting system and cycling track at specific locations across the region. Moreover, the growing awareness regarding sustainable development and increasing consumer expenditure power is accelerating the market growth. Besides this, the increasing electricity costs, rapid product innovations, and the growing number of infrastructural development projects are factors creating a positive outlook for the market.

Market Segmentation:

The report has segmented the UAE LED lights market on the basis of product type, application, import and domestic manufacturing.

Breakup by Product Type:

• LED Panel Lights
• LED Downlights
• LED Street Lights
• Others

Breakup by Application:

• Commercial
• Industrial
• Residential
• Others

Breakup by Import and Domestic Manufacturing:

• Import
• Domestic Manufacturing

Speak to Analyst: https://www.imarcgroup.com/request?type=report&id=814&flag=C

Key Highlights of the Report:               

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Industry Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Website: https://www.imarcgroup.com

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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This release was published on openPR.