GCC LED Lighting Market Size Witnesses Robust Growth Rate of CAGR 15.1%, Exceeding US$ 5,455 Million by 2028

IMARC Group, a leading market research company, has recently releases report titled "𝐆𝐂𝐂 𝐋𝐄𝐃 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖", The study provides a detailed analysis of the industry, including the GCC LED lighting market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the GCC LED lighting market?

The GCC LED lighting market size reached US$ 2,314 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,455 Million by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.

What is LED Lighting?

Light emitting diode (LED) lighting is a highly energy-efficient lighting technology that has gained widespread acceptance due to its numerous benefits. Unlike traditional incandescent bulbs, LEDs convert about 95% of the energy into light and only 5% into heat. This results in a significant reduction in energy consumption, leading to cost savings. LED lighting also offers a longer lifespan, often lasting up to 25 times longer than conventional bulbs. Technology allows for a wide range of color temperatures and brightness levels, providing versatility in various applications, from residential and commercial spaces to automotive and industrial use.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/gcc-led-lighting-market/requestsample

GCC LED Lighting Market Trends:

The flourishing tourism and hospitality sectors in the GCC region demand aesthetically pleasing and energy-efficient lighting solutions, which represents one of the key factors driving the growth of the market across the GCC region. In line with this, the rising integration of LED lighting with smart controls and home automation systems aligns with the modernization trend in the GCC region, which is fostering market expansion. Governments in the GCC region are actively promoting energy efficiency to reduce electricity consumption. This includes encouraging the use of LED lighting through regulations, subsidies, and incentives. The rapid urbanization and growth of infrastructure projects in cities across the GCC region necessitate innovative lighting solutions. LED lighting, with its efficiency and design flexibility, is a preferred choice. With a growing focus on sustainability, LED lighting is being adopted due to its lower carbon footprint and absence of harmful substances like mercury. The reduction in energy costs due to the efficiency of LED lighting is an appealing factor for both commercial and residential consumers in the GCC region. Continuous innovation in LED technology, offering better quality, functionality, and longevity, is making it an attractive option for various applications which is creating a positive outlook for the market across the region.

GCC LED Lighting Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the GCC LED lighting market has been studied in the report with detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the GCC LED lighting market on the basis of products and countries.

Breakup by Products:

• Panel Lights
• Flood Lights
• Down Lights
• Street Lights
• Tube Lights
• Bulbs

Breakup by country:

• Saudi Arabia
• UAE
• Quatar
• Bahrain
• Quwait
• Oman

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=721&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

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.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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.