According to the latest report by IMARC Group, titled “GCC LED Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the GCC LED lighting market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the GCC market to grow at a CAGR of 14.60% during 2021-2026.
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.
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A light-emitting diode (LED) refers to a cost- and energy-efficient lighting device that illuminates when electric current passes through it. These lights are durable, available in a wide range of colors, and have a long lifespan. LEDs are commonly used as backlighting in various electronic devices, display boards, automobiles, etc. These lighting systems utilize lesser energy than traditional bulbs, do not contain any harmful elements, and offer more than 40 times the average life of conventional lights. The rising awareness towards the energy- and cost-saving benefits of LED lighting among the consumers has encouraged the product adoption in the GCC region.
The increasing demand for energy-efficient lighting systems and the rising infrastructural development are primarily driving the GCC LED market. Furthermore, the growing concerns towards greenhouse gas emissions have propelled the use of LED lighting products for reducing the carbon emissions from conventional fluorescent lights. Moreover, the rising installation of LED lights in automobiles, signal and signage, mobile devices, etc., is also augmenting the market growth. Besides this, several regulations by government bodies across the GCC countries have restricted the import and sales of incandescent bulbs, which are expected to further bolster the demand for LED lights over the forecasted period.
GCC LED Lighting Market 2021-2026 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 the detailed profiles of the key players operating in the market.
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/gcc-led-lighting-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- 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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