Press release
Saudi Arabia Lighting Market Size, Share, Growth Report and Forecast 2024-2032
According to the report by Expert Market Research (EMR), the Saudi Arabia lighting market size reached around USD 1.19 billion in 2023. Aided by the country's robust economic development and ambitious infrastructure projects, the market is projected to further grow at a CAGR of 7.1% between 2024 and 2032 to reach a value of USD 2.20 billion by 2032.
The lighting market in Saudi Arabia encompasses a wide range of products, including LED lighting, traditional lighting, and smart lighting solutions. The market is witnessing a substantial shift towards energy-efficient and sustainable lighting options, in line with the country's Vision 2030 goals to reduce energy consumption and promote environmental sustainability.
As per the Saudi Arabia lighting market analysis, the demand for lighting in Saudi Arabia is soaring due to the rapid expansion of the real estate sector and increasing urbanisation. One of the key factors propelling the lighting sector in the country is the growing need for energy-efficient lighting systems, driven by rising environmental concerns and rapid industrialisation. To address the escalating energy demands and reduce operating costs, the Saudi Arabian government is placing a strong emphasis on the adoption of smart lighting systems, thereby bolstering the smart lighting sector in the country. Across the lighting-types segment, LED lighting is experiencing the highest demand.
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The Saudi Arabia lighting market value is expected to witness continued growth due to increased adoption of LED lights across the country. The surge in demand for LED lights can be attributed to significant advancements in both public and private infrastructure, coupled with the government's efforts to promote their use. In order to encourage the adoption of LED lamps, the Saudi Arabian government has implemented global energy quality regulations and increased tariffs on imports of incandescent and compact fluorescent lights.
Several factors are contributing to the Saudi Arabia lighting market growth including the government's focus on infrastructure development. Mega-projects like NEOM, the Red Sea Project, and Qiddiya, is driving the demand for advanced lighting solutions in residential, commercial, and industrial sectors.
Saudi Arabia's efforts to enhance energy efficiency and reduce carbon emissions are leading to the adoption of LED and smart lighting solutions, which offer significant energy savings compared to traditional lighting technologies.
Additionally, the development of smart cities in the country is boosting the demand for intelligent lighting systems that can be integrated with other smart technologies for optimised energy usage and enhanced urban management, consequently driving up the Saudi Arabia lighting market share.
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The expanding construction sector, driven by the government's housing initiatives and commercial projects, is also propelling the demand for various lighting products. Moreover, innovations in lighting technology, such as the introduction of IoT-enabled and connected lighting systems, are further fuelling the market growth.
Saudi Arabia Lighting Market Segmentation
The market can be divided based on the lighting type, end use, and distribution channel.
Market Breakup by Lighting Type
LEDs
CFLs
Halogens
Incandescent
Others
Market Breakup by End Use
General
Automotive
Market Breakup by Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online
Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Saudi Arabia lighting market. Some of the major players explored in the report by Expert Market Research are as follows:
Signify Holding
Al Nasser Group
National Lighting Company
HEBA Lighting
Others
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