Saudi Arabia LED Lighting Market

The Saudi Arabia LED Lighting Market size is projected to add an incremental market revenues of over USD 1,000 million between 2023 to 2030.

Saudi Arabia LED Lighting Market Overview

LED lights are the latest technology in energy-efficient lighting. In LED lights, LED stands for “Light Emitting Diode” which is a type of semiconductor device that has the capability of emitting light by the passage of electric current through it, that is it converts electricity into light and is opposite of a photovoltaic cell which converts visible light into electric current. The life span of LED lights is long and have the potential to reduce the consumption of energy along with reducing greenhouse gas emissions.

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Major Saudi Arabia LED Lighting Market Drivers

Saudi Arabia LED lighting market is primarily driven by government initiatives to promote energy efficiency, growing demand for smart houses, rising urbanization and the construction of smart cities. Saudi Arabia’s economy is highly dependent on oil and gas sector, government is taking initiatives to diversify the economy by spending on various infrastructure projects to boost the tourism sector and promote sustainability. In line with vision 2030, government of Saudi Arabia is planning to construct 200 smart cities and automate 4,000 factories across the country. Neom city is one of the flagship projects of Saudi government in which USD 500 billion will be spent by government, local and foreign investors on its construction. In Neom, several tourist centres, sports and entertainment venues, ports and commercial areas and smart towns will be developed, which is expected to create lucrative growth opportunities for Saudi Arabia LED lighting market in coming years.

Carbon dioxide emissions in Saudi Arabia have increased significantly in recent years. More than 20% increase in the total carbon dioxide emissions was observed in almost every sector Saudi Arabia between the period 2012-2017. To reduce carbon emissions in the country, Saudi government is collaborating with international agencies and private companies, to promote energy efficiency in country, which is projected to have positive impact on Saudi Arabia led light market. Moreover, with increasing economic development and growing population growth rates, demand for electricity is expected to increase by 50% in Saudi Arabia in coming 20 years, which is expected to increase the demand for smart lighting solutions as these solutions can reduce energy consumption by 35%. Shortage of electricity in summers and reducing subsidies on electricity prices is accelerating the demand for LED lighting solutions in the country. LED lighting is becoming popular in Saudi Arabia due to its design flexibility, capability to operate on low voltage, longer lifespan, environment-friendly and energy saving features.

However, certificates and label testing are required in every two years, coupled with challenges faced in designing LEDs are some of the factors restricting the growth of Saudi Arabia Smart Lighting Market.

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Installation: Segment Analysis

New Installation segment is expected to grow at the fastest rate during the forecast period driven by the increasing demand for fancy lights across residential and commercial industry in KSA. In addition, high usage of energy efficient lighting systems among various application areas is further supporting the growth of the New Installation segment.

Application: Segment Analysis

Demand for LED lighting solutions is increasing rapidly in residential areas in Saudi Arabia, as the lights are cost-effective and helps in conserving energy. Additionally, increasing urbanization, development of new smart cities and rise in disposable incomes of consumers, are propelling the growth of residential segment. For instance, as per recent estimates, consumers spending in Saudi Arabia has increased by around 20% between 2015 to 2020.

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Top Market Players

Various notable players operating in Saudi Arabia LED lighting market include General Electric Company, Philips Lighting Saudi Arabia Company, Cooper Lighting, Al Nasser Group, Osram, Zumtobel Lighting Saudi Arabia, Alfanar, Cinmar Lighting Systems, Zubair Electric Group, Huda Lighting, and Al AbdulKarim Trading Company among others.

Key Developments:

• • In 2022, Saudi Arabia government signed an agreement to build largest mall in Makkah by 2026 and planned to invest SR 2.7 billion.
  • In 2022, Tata Communications and Zain KSA joined hands to offer smart city solutions to Saudi Arabia. The companies planned to work on bringing smart street lighting solutions to one of the major cities in Saudi Arabia.
  • In October 2022, Phillips launched Philips Hue in Saudi Arabia. Phillips Hue includes smart lighting products, which can be controlled using smartphones.
  • In June 2022, Trashid and Ministry of Ministry of Transport and Logistics launched first phase of project, under which it will replace 17,000 traditional lamps with energy efficient LED lights.
  • In March 2018, Panasonic Homes & Living in collaboration with Al Manara Electric Trading, showcased its LED products at the Jeddah Centre for Forums & Events.

Segments covered in the Report:

Saudi Arabia LED lighting market has been segmented on the basis of installation type, end-use application, and product type. The installation type segment market is segmented into New Installation and Retrofit. Based on end-use application, the market is segmented into Indoor Lighting and Outdoor Lighting. Indoor lighting is further segmented into Residential, Industrial, Commercial and Others. Outdoor lighting is further segmented into Architectural, Highway & Roadway, Public Places and Others. The product type segment market is segmented into Luminaries and Lamps.

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Market Segmentation

Saudi Arabia LED Lighting Market by Installation Type

• • New Installation
  • Retrofit

Saudi Arabia LED Lighting Market by End-Use Application

• • Indoor Lighting
    • Residential
    • Industrial
    • Commercial
    • Others
  • Outdoor Lighting
    • Architectural
    • Highway & Roadway
    • Public Places
    • Others

Saudi Arabia LED Lighting Market by Product Type

• • Luminaries
  • Lamps

Leading market players

• • General Electric Company
  • Philips Lighting Saudi Arabia Company
  • Cooper Lighting
  • Al Nasser Group
  • Osram
  • Zumtobel Lighting Saudi Arabia
  • Alfanar
  • Cinmar Lighting Systems
  • Zubair Electric Group
  • Huda Lighting
  • AI AbdulKarim Trading Company