The Africa LED and OLED displays and lighting products market have witnessed remarkable growth over the years, with a valuation of US$ 684.9 million in 2015. Projections indicate that this market is poised for substantial expansion, with an anticipated Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period from 2016 to 2026. This upward trajectory is attributed to increasing government support and the introduction of new governmental initiatives promoting LED lighting across Africa.
A significant driver for this market is the continuous progress of the Lighting Africa initiative, a collaborative effort by the International Finance Corporation (IFC) and the World Bank. This initiative has been instrumental in propelling the adoption of energy-efficient lighting solutions across the continent. In 2015, the Africa LED & OLED displays and lighting products market consisted of 30.9 million units, and it is projected to expand substantially, reaching a market volume of 206.7 million units by the end of 2026.
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Displays and lighting products are the two categories used to classify the market for LED and OLED products in Africa. The market is further divided into mobile displays, consumer TV displays, and outdoor LED displays based on display types. The African market is divided into sections based on product type and uses for lighting goods. The market is further divided into LED bulbs, bare LED tubes, LED fixtures, and solar LED lighting based on the kind of product. Street lighting, down lighting, garden lighting, ceiling lighting, ornamental and portable lighting, and other types of lighting are some of the applications that the industry is divided into.
Market highlights
- The consumer TV displays sub-segment was valued at US$ 130.2 Mn in 2015 and is anticipated to register a CAGR of 18.8% during the forecast period. The introduction of off-grid solar-powered television for rural areas of the African region is expected to drive the growth of this market during the forecast period.
- The LED bulbs sub-segment accounted for the highest market share and was valued at US$ 193.9 Mn in 2015. However, the solar LED lighting sub-segment is expected to register a healthy CAGR of 28.6% during the forecast period.
- Among applications, the street lighting segment accounted for the highest market share in 2015, occupying 37.6% share of the African lighting products market.
Competitive Landscape – Regional Trends The competitive landscape of this market is characterized by regional trends. Different African countries are embracing LED and OLED lighting solutions at varying paces, influenced by factors such as economic development, infrastructure projects, and energy conservation efforts. It is essential for market players to tailor their strategies to align with the unique dynamics and demands of each region.
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Restraints While the Africa LED and OLED displays and lighting products market exhibit significant potential, it is not without its challenges. These include issues related to affordability and accessibility, particularly in less economically developed regions. Additionally, the market faces competition from traditional lighting technologies, which still have a presence in certain segments. Overcoming these barriers will be crucial for sustained market growth.
Region-wise Insights – Category-wise Insights For a more comprehensive understanding of the market, it is essential to analyze regional and category-specific trends. These insights will help stakeholders make informed decisions and capitalize on growth opportunities in specific areas and product segments.
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