GCC: Market for Residential, Commercial and Industrial Lighting Fixture 2024

Market Size for Residential, Commercial and Industrial Lighting Fixture in GCC

In 2021, after three years of decline, there was significant growth in the GCC market for residential, commercial and industrial lighting fixture, when its value increased by 17% to $X. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Residential, Commercial and Industrial Lighting Fixture in GCC

In value terms, production of residential, commercial and industrial lighting fixture expanded markedly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 57% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

Exports of Residential, Commercial and Industrial Lighting Fixture

Exports in GCC

In 2021, shipments abroad of residential, commercial and industrial lighting fixture decreased by -11.1% to X units, falling for the fourth consecutive year after two years of growth. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 92%. Over the period under review, the exports of hit record highs at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of residential, commercial and industrial lighting fixture contracted to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 75% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the key exporter of residential, commercial and industrial lighting fixture in GCC, with the volume of exports reaching X units, which was near 64% of total exports in 2021. Saudi Arabia (X units) held the second position in the ranking, distantly followed by Oman (X units). All these countries together held approx. 34% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -9.0% from 2012 to 2021. At the same time, Oman (+30.7%) and Saudi Arabia (+8.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +30.7% from 2012-2021. While the share of Saudi Arabia (+21 p.p.) and Oman (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-26.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest residential, commercial and industrial lighting fixture supplier in GCC, comprising 69% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at -3.2%. In the other countries, the average annual rates were as follows: Saudi Arabia (+3.7% per year) and Oman (+39.6% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, almost unchanged from the previous year. Export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for residential, commercial and industrial lighting fixture increased by +25.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 43%. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Residential, Commercial and Industrial Lighting Fixture

Imports in GCC

In 2021, overseas purchases of residential, commercial and industrial lighting fixture were finally on the rise to reach X units after three years of decline. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 61%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of residential, commercial and industrial lighting fixture expanded notably to $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) prevails in fixture structure, together generating 81% of total imports. It was distantly followed by Oman (X units) and Kuwait (X units), together generating a 15% share of total imports. Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +16.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported residential, commercial and industrial lighting fixture in GCC, comprising 49% of total imports. The second position in the ranking was taken by Qatar ($X), with a 10% share of total imports. It was followed by Kuwait, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +8.5%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+0.5% per year) and Kuwait (+4.5% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, remaining constant against the previous year. Overall, the import price, however, saw a noticeable contraction. The growth pace was the most rapid in 2020 an increase of 21% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform