Saudi Arabia LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Saudi Arabia LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A807
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Market Overview:

The Saudi Arabia LED lights market size reached SAR 993.4 Million in 2021. Looking forward, IMARC Group expects the market to reach SAR 2,295.7 Million by 2027, exhibiting a growth rate (CAGR) of 15.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

 

 
 

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Saudi Arabia LED Lights Market Trends:

The governing authorities of Saudi Arabia have been focusing on rational utilization of resources, reduction of carbon dioxide (CO2) and sustainable development for several years. As a result, the National Energy Efficiency Programme (NEEP), which is supported by national, international, and private agencies, have been implemented. This initiative supported energy conservation and resulted in the escalating demand for LED lights across the country. Apart from this, a rise in the urbanization rates has significantly increased the number of smart city projects in 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 providing a boost to the demand for high-quality LED lighting systems. Furthermore, LED lights are employed in the manufacturing of headlamps, rear lamps, and brake lights, which are gaining traction in the country. This, in confluence with extensive investments in the public and private infrastructural developments, is propelling the growth of the market in Saudi Arabia. Besides this, the introduction of smart lighting solutions is also positively influencing product sales. Other major factors, including the easy accessibility of products at reduced prices and the increasing need for street lighting systems, are anticipated to drive the market in Saudi Arabia.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia LED lights market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on product type, application, and import and domestic manufacturing.

Breakup by Product Type:

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • LED Panel Lights
  • LED Downlights
  • LED Street Lights
  • Others


Based on the product type, LED panel Lights currently accounts for the highest market share.

Breakup by Application:

  • Commercial
  • Industrial
  • Residential
  • Others


Based on the application, commercial segment currently accounts for the highest market share.

Breakup by Import and Domestic Manufacturing:

  • Import
  • Domestic Manufacturing


Import currently dominates this segment.

Competitive Landscape:

The competitive landscape of the market has been examined in the report and the profiles of key players have also been provided.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units SAR Million
Segment Coverage Product Type, Application, Import and Domestic Manufacturing
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Saudi Arabia LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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