LED Lighting Market in Saudi Arabia 2020: Industry Overview, Growth Rate and Forecast 2025

According to the IMARC Group, Saudi Arabia LED lighting market reached a value of SAR 2,744 Million in 2019. Looking forward, the market to reach a value of SAR 7,514 Million by 2025, at a CAGR of 18% during 2020-2025. Light-emitting diode (LED) lights are energy-efficient solutions that generate non-coherent and narrow-spectrum light when a voltage is passed through them. They are made from epoxy lenses, which makes them breakage resistant. As compared to other lighting sources, such as incandescent bulbs and CFLs, LED lights are durable, economical, energy-efficient and emit less heat. Owing to these properties, they are widely used in the residential and commercial buildings of Saudi Arabia.

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Due to the growing population, altering lifestyles and extreme climatic conditions, there is a rise in the consumption of electricity in Saudi Arabia. As a result, the sales of energy-efficient lighting solutions, such as LED lights, have increased. Besides this, the Government of Saudi Arabia is introducing various new infrastructural projects, such as the Makkah and Riyadh Metro systems. It is also focusing on developing and expanding existing infrastructures, such as the Red Sea Islands, the entertainment city in Al Qidya and King Abdulaziz International Airport. These projects are anticipated to create a positive outlook for the market in the coming years.

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Market Segmentation:

Market Breakup by Product Type

1. LED Panel Lights
2. LED Downlights
3. LED Street Lights
4. Others

Market Breakup by Application

1. Commercial
2. Industrial
3. Residential
4. Others

Market Breakup by Import and Domestic Manufacturing

1. Import
2. Domestic

Browse related reports:

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European LED Lighting Market Research Report: https://www.imarcgroup.com/europe-led-lighting-market

Vietnam LED Lighting Market Research Report: https://www.imarcgroup.com/vietnam-led-market

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