Saudi Arabia LED Light Market To Be Driven By The Growing Rate Of Urbanisation In The Forecast Period Of 2021-2026

The new report by Expert Market Research titled, ‘Saudi Arabia LED Light Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Saudi Arabia LED light market, assessing the market based on its segments like types, applications, and sectors. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 80 billion (Global LED Lighting Market)
  • Forecast CAGR (2021-2026): 14% (Global LED Lighting Market)

Saudi Arabia’s government plans to reduce energy subsidies by 2020 in order to increase energy efficiency. The lack of subsidies is expected to  result in higher electricity prices for companies and consumers. Thus, the overall demand for energy-efficient technology, goods, and services, such as LED lights, is expected to increase as a result of this initiative. Moreover, as urbanisation rates have risen, the number of smart city projects around the country has increased significantly. Three cities in Saudi Arabia will be built as smart cities, according to Vision 2030, the government’s national development plan. This is expected to drive up the demand for high-quality LED lighting systems over the forecast period.

Industry Definition and Major Segments

An LED light, also known as an LED light bulb, is an electric light that uses light-emitting diodes to generate light. LED lights are more energy-efficient than equivalent incandescent lamps, and they can also outperform most fluorescent lamps.

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The market based on type can be segmented into:

  • Panel Lights
  • Flood Lights
  • Down Lights
  • Street Lights
  • Tube Lights
  • Bulbs

By application, the market is segmented into:

  • Residential
  • Industrial
  • Commercial
  • Others

The industry can be bifurcated based on sector into:

  • Private
  • Public

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Market Trends

Companies in Saudi Arabia have begun to introduce and adopt energy-efficient practises in order to promote sustainability in the country over the last few years. Saudi Amarco, the Saudi Arabian national petroleum and natural gas corporation, for example, intends to reduce energy usage in its transportation, homes, and communities by nearly 35% by 2020. Approximately 60,000 fluorescent lights were recently replaced with more energy-efficient LED lights throughout the firm’s offices and facilities. These factors are expected to bolster the market growth of LED light in Saudi Arabia.

Key Market Players

The major players in the market are Al Nasser Group, Saudi LED Light, National Lighting Company, Technolight, Inara Company Limited, Noortek, Nardeen Lighting Company LLC, Huda Lighting, and Philips Saudi Lighting Company. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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