The Latin America, Middle East and Africa Energy Efficient Lighting Market would witness market growth of 10.3% CAGR during the forecast period (2022-2028).
Energy efficient lighting comprises getting more light from fewer lights by replacing high-power lights like incandescent and high-displacement lamps with low-power lights. Traditional lighting (such as incandescent lamps) is replaced with energy efficient lights such as fluorescent lamps, CFL lighting, and LED lamps. It also comes with the necessary extra illumination, such as timers, sensors, and so on. It includes attempting to switch off lights that are not in use automatically, especially during the day. External lighting, interior lighting in residential buildings, and interior lighting in commercial buildings can all benefit from these energy-saving solutions.
Not only do these programmers save energy, but they also increase illumination quality. Incandescent lamps squander 90% of their electricity as heat instead of light, and they use 3-5 times more energy. As a result of replacing these bulbs with energy-saving bulbs, an energy-efficient lighting system is created. Energy-saving lights, sometimes known as blubs, come in two varieties.
The building sector in the UAE is expected to grow moderately after the pandemic in the following years. The UAE government prioritizes energy and infrastructure investments, such as transportation, decarbonization, utilities, renewable and nuclear energy generation, and tackling the country's persistent water scarcity. The government's strong dedication and resources have resulted in the establishment of a number of mega-project prospects for UAE construction and engineering firms. The Al-Nouf seawater treatment plant of the Abu Dhabi National Oil Company (ADNOC), the Dubai Municipality's plan to build a strategic sewerage tunnel, and other mega construction projects like the redevelopment of Mina Rashid in Dubai and the Dubai International Financial Centre Expansion 2.0 have all recently been announced.
Over the next decade, the utilities energy infrastructure sector is expected to grow to fulfill the rising demand for power, improve the UAE's water security, and diversify the economy away from oil. The increase of water and renewable energy capacity will drive growth in energy and utility infrastructure in the next years, in keeping with the UAE's acute water scarcity and the government's low-carbon energy plan.
The Brazil market dominated the LAMEA Energy Efficient Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,483.5 Million by 2028. The Argentina market is estimated to grow at a CAGR of 10.8% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 10% during (2022 - 2028).
Based on Type, the market is segmented into Light Emitting Diodes (LED), Linear Fluorescent Lamps (LFL), High-Intensity Discharge Lamps (HID) and Others. Based on Application, the market is segmented into Commercial, Industrial, and Home. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Energy Efficient Lighting Market is Predict to reach $42.6 Billion by 2028, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ams-OSRAM AG, Signify N.V., Savant Systems, Inc., Toshiba Corporation, ABB Group, Schneider Electric SE, Advanced Lighting Technologies Australia, Inc., Nichia Corporation, Bridgelux, Inc., and Digital Lumens, Inc.
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