Saudi Arabia LED Lighting Market: By Product Type (Lamps & Luminaries), By LED Type (Bulbs, Tubelights, Panel Lights, Streetlights, Downlights, Floodlights), By Application (Residential, Commercial, Industrial and Others), By Usage (Indoor and Outdoor), By Regions (Eastern, Western, Southern and Central) – Opportunities & Forecast (2020-2026)
Saudi Arabia’s LED Lighting market is dominating the overall Middle East and Africa Region. The continuous rise in the statistics of household establishments and development in commercial infrastructure authentic focus on uniform and green lighting has formed a huge demand for Light Emitting Diode (LED) lighting products. Shortage in electricity supply notably during the summer times and cutbacks in subsidies on electricity cost increased the demand for cost-effective lighting systems.
According to Pheonix Research, the Saudi Arabia LED Lights Market to grow by a CAGR of 14.3% during 2020-2026. The rise in the expense by the government for the replacement of conventional lighting systems with modern LED lighting fixtures exclusively in street lighting and other public places is a major growth driver for Saudi Arabia’s LED lighting market during the forecast period. The KSA-led lighting market is expected to reach a measure of SAR 6,392 Million by 2024.
The report has been segmented based on type Bulbs, Tubelights, Panel Lights, Streetlights, Downlights, Floodlights, and others. Presently, panel lights dominate the lion’s share in the Saudi Arabian region. The report also segmented the market based on applications covering residential, commercial, industrial, and others. The report has also evaluated the competitive landscape of the market with multiple notable players being General Electric, Cooper Lighting, and Philips.
Key Highlights of the Report:
1. The momentum of Saudi Arabia’s LED lighting market growth?
2. Key development trends in the future?
3. Major growth drivers and restraints in the present market?
4. Leading impact of drivers and restraints in the forecast period?
5. Distinct application segments and how they influenced growth?
Markets Covered
By Product Type
• Lamps
• Luminaries
By LED Type
• Bulbs
• Downlights
• Floodlights
• Panel Lights
• Streetlights
• Tubelights
By Application
• Residential
• Commercial
• Industrial
• Others
By Usage
• Indoor
• Outdoor
By Regions
• Eastern
• Western
• Southern
• Central