Saudi Arabia LED Lighting Market Expected to Reach SAR 6,392 Million by 2024

The Saudi Arabia LED lights market is expected to be driven by a number of favourable factors. Urbanisation and infrastructural growth have stimulated the demand for LED lights in various end-use industries such as general lighting, automotive, consumer electronics, etc. Moreover, the government is planning to phase out the less efficient conventional lights such as fluorescent bulbs and tube lights. Apart from this, under the Saudi Energy Efficiency Program (SEEP), the government is encouraging public and private projects to adopt LED light systems so as to reduce energy wastage and promote sustainable development. However, the prices of LED lights are higher than the conventional lights which make it difficult for the consumers to switch towards LED lights. Despite this, the LED lighting market in Saudi Arabia has a strong growth potential and is expected to reach a value of SAR 6,392 Million by 2024.

Highlights of the Saudi Arabia LED Lights Market:

  • Awareness about the benefits of LED lights over other lighting sources are driving their penetration in the country.

  • Government’s endorsement of sustainable development in the region is acting as a major catalyst for the market growth.

  • Panel lights are the most popular type of LED lights in Saudi Arabia.

The report by IMARC Group has examined the Saudi Arabia LED Lights market on the basis of:

Product Type:

Panel Lights
Street lights
Downlights
Others

Application:

Industrial
Commercial
Residential
Others

Key Players:

Philips
General electric
Osram

Interested in purchasing a report on Saudi Arabia LED lights market? Click here. https://www.imarcgroup.com/saudi-arabia-led-lights-market/requestsample

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