LED Lighting Market in Saudi Arabia: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024


Posted July 17, 2019 by ivosmith98

Saudi Arabia LED Lights Market to Reach SAR 6,392 Million by 2024, Propelled by Promotion of Sustainable Development by the Government

 
The latest report by IMARC group titled, “Saudi Arabia LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the Saudi Arabia LED lights market reached a value of SAR 2,302 Million in 2018, growing at a CAGR of 22.3% during 2015-2018. This enormous growth in the sales of LED lights can be attributed to the increasing awareness about their benefits and huge infrastructural investments in the region. LED lights are more energy- and cost-efficient than the conventional lighting products with significantly longer lifespan. As a result of this, they reduce electricity consumption and are rapidly replacing incandescent and fluorescent lights, especially in the residential and commercial sectors.

Report Overview: https://www.imarcgroup.com/saudi-arabia-led-lights-market

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.

Get a free sample for this market study here: https://www.imarcgroup.com/request?type=report&id=807&flag=B

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

Browse similar reports by IMARC Group

Saudi Arabia Smart Lighting Market Report, Trends and Forecast: https://www.imarcgroup.com/saudi-arabia-smart-lighting-market

Global LED Lighting Market Report, Trends and Forecast: https://www.imarcgroup.com/led-manufacturing-plant

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Categories Business , Electronics
Tags led lighting , saudi arabia
Last Updated July 17, 2019