According to Research and Markets (The World's Largest Market Research Store), Saudi Arabia LED Lights reached a value of SAR 2,302 Million in 2018.
Saudi Arabia's market for LED lighting products is being driven by a number of favorable factors. The major driver for the market growth is huge investments in the public and private infrastructure. Meanwhile, Saudi Arabian government takes various measures in order to encourage the use and demand of LED bulbs and other types of LED lights.
Coupled with the increased tariffs on the imports of incandescent and compact fluorescent lights, the adoption of the energy-efficiency standards in the region also can be expected to further stimulate the demand for LED lights in the region.
In the report, Saudi Arabia LED lights market has segmented according to product categories, covering panel lights, downlight, street lights and others. At present, panel lights account for the largest share of the Saudi Arabian market. The report has also segmented the market on the basis of application including commercial, residential, and industrial and others. The report has further analyzed the competitive landscape of the market with some of lighting industry giants as case studies.
On current trends, it's further projected to reach a value of SAR 6,392 million in Saudi Arabia LED lights market by 2024.
Saudi Arabia LED Lights Market Forecast 2019-2024，Research and Markets ,Feb. 2019