Khind expands lighting products to boost its share in the Middle East’s US$6.5 billion lighting fixture market
Khind, a global consumer electrical and electronics manufacturer as well as a smart solutions provider for cooling and lighting, is expanding its energy efficient and innovative lighting products that will help reduce energy consumption and environment footprint as well as serve the growing number of new homes that are being delivered.
The announcement comes as 41,000 new apartments and villas are being delivered in Dubai and 15,000 in Abu Dhabi in 2021, according to property consultancy Asteco. The market is also likely to see 1.5 million square feet of additional office space this year, a figure that could go up if projects that were put on hold or delayed last year will resume activity.
In Saudi Arabia, the largest Arab economy, around 60,000 residential units have been handed over in 2020, bringing the total residential supply to 1.3 million and 835,000 in Riyadh and Jeddah, respectively. While the total stock for Makkah and Dammam Metropolitan Area (DMA) stood at 400,000 and 363,000, respectively. These houses and offices would drive the demand for lighting products in the region.
The move by Malaysian electricals, industrial and consumer electronics and appliances manufacturer Khind Holdings Bhd, comes as the lighting fixture market revenues in the Middle East is set to grow at a Compound Annual Growth Rate (CAGR) of 12.3 percent from US$6.5 billion (Dh23.85 billion) in 2021 to US$9.7 billion (Dh35.6 billion) in 2025, according to reports.
“Lamps do not just light up your room, they are part of your lifestyle. Light fittings, just like a new piece of furniture, can completely change the appearance of your room,” Adil Mistry, Group Chief Executive Officer, Khind Holdings Berhad, says. “Whether you are building a new home, renovating, or simply just feel like a change, Khind lights are the go-to option for customers.
“That’s why, we have expanded our lighting portfolio to have the widest collection of lighting products under one brand that fits into the needs of any and every customer – be it individual, family or industrial units or a public facility, a shopping mall or a cinema hall.”
Saudi Arabia represents 30.5 percent revenue share of the Middle East’s lighting fixture market followed by Turkey with 15.4 percent, UAE with 13.6 percent and Iran capturing 11.8 percent of the market share. Over the coming years, countries including UAE, Jordan, Lebanon and Qatar are expected to record rapid growth owing to higher demand of lighting fixture solutions, the report said.
According to another report by Allied Market Research, the Europe and Middle East industrial and commercial Light-Emitting Diode (LED) lighting market size was valued at valued at $6.03 billion in 2018, and is projected to reach $21.96 billion by 2026, registering a CAGR of 17.2 percent from 2019 to 2026.
The global Lighting Fixtures market is estimated to be about US$16.34 billion in 2020, which is estimated to reach US$19.15 billion by 2026.
Khind lighting range caters to a wide variety – be it individual, household or industrial needs everything related to lights and lamps, whether for house, garden, office, shop, or the property in general.
Khind’s right lighting products can also increase one’s feeling of well-being and the latest lamps and light bulbs can help save energy and money. High-quality LED lamps, for example, can save you up to 90 percent in electricity costs and are just as bright as traditional light bulbs. As energy savings mean lower CO2 emissions, you’re also helping the environment at the same time.
Jos Paul CJ, Senior Operations Manager and SBU head for KHIND Middle East and Africa region, says: “As the market in the GCC grows due to the delivery of new residential, commercial, retail and hospitality properties, we at Khind have also up the ante with expanded energy-efficient lighting portfolio to help our clients in the Middle East.
“Our next-generation cost-effective and innovative lighting products will help property owners save money over the life-cycle of the properties with extended life, warranty and lower maintenance cost, backed up with our excellent customer services.”
Khind Middle East, which looks after the market development for the brand in 15 key markets across the region, has recently relocated to a bigger regional head office to increase the brand’s presence and boost the region’s growing consumer electronics and home appliance market.
Khind, which was established in 1961 in Malaysia as small shop, developed into one of the largest electrical and home appliances manufacturer in the Far East. Its products are exported to more than 50 countries worldwide.