The Saudi Arabia LED lights market reached a value of SAR 2,744 Million in 2019. A light emitting diode, or LED, is a cost- and energy-efficient solution that offers broader applicability as compared to traditional lighting options. LED-based lights have a longer lifespan and considerable potential to reduce overall electricity consumption and the associated greenhouse gas emissions. As a result, they are rapidly replacing conventional bulbs, including incandescent and fluorescent. At present, these lights are available in various colors, which are produced by using four main types of semiconductor materials – Aluminum gallium indium phosphide (AlGaInP), Gallium phosphide (GaP), Indium gallium nitride (InGaN), and Aluminum gallium arsenide (AlGaAs). These lighting systems have gained immense popularity in Saudi Arabia due to infrastructural development, growing urbanization rates and increasing concerns over greenhouse gas emissions.
Over the past few years, companies in Saudi Arabia have started introducing and implementing energy-efficient practices for promoting sustainability in the country. For example, the Saudi Arabia-based national petroleum and natural gas company, Saudi Amarco, aims to reduce energy consumption by nearly 35% in its transportation, buildings and communities by 2020. The firm recently replaced approximately sixty-thousand fluorescent lights with more efficient LED lights across its offices and facilities. By 2020, the Government of Saudi Arabia is also planning to decrease energy subsidies to boost energy efficiency as the unavailability of subsidies will lead to higher costs of electricity for businesses and consumers. This initiative is projected to accelerate the overall demand for energy-efficient technologies, products and services, like LED lights. Moreover, a rise in the urbanization rates has significantly increased the number of smart city projects across the country. According to Vision 2030, the national development plan of the Government, three cities in Saudi Arabia will be developed as smart cities. This is further providing a boost to the demand for high-quality LED lighting systems. Looking forward, IMARC Group expects the Saudi Arabia LED lights market to exhibit strong growth during the next five years.
Breakup by Product Type:
Based on the product type, LED panel currently accounts for the highest market share.
Breakup by Application:
Based on the application, commercial segment currently accounts for the highest market share.
Breakup by Import and Domestic Manufacturing:
Import currently dominates this segment.
Key Questions Answered in This Report:
The market has been negatively impacted due to the coronavirus disease (COVID-19) outbreak, which has disrupted the supply chains of electronic components and halted industrial and commercial activities in the country.
The Saudi Arabia LED lights market size was SAR 2,744 Million in 2019.
According to the estimates by IMARC Group, the Saudi Arabia LED lights market will exhibit strong growth during the next five years.
A significant rise in the utilization of electricity on account of the growing immigrant population and extreme climatic conditions is escalating the demand for energy-efficient lighting solutions, such as LED lights, across the country.
The increasing focus on energy conservation and the growing number of smart city projects are acting as major trends for the LED lights market in the country.
Based on the product type, the market has been segmented into LED panel lights, downlights, streetlights and other lights.
On the basis of the application, the market has been segregated into the commercial, industrial, residential and other sectors.
The market has been analyzed on the basis of the import and domestic manufacturing, wherein imports of LED lights dominate the market due to low manufacturing capability in Saudi Arabia.
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