UNITED STATES – The new report by Expert Market Research titled, ‘Saudi Arabia LED Light Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis Saudi Arabia LED light market assessing the market based on type, application, sector, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 17.5%
The emphasis on energy conservation and the reduction of inefficient lighting is pushing transformation. Furthermore, the increased use of LEDs, lower pricing for illumination packages, and technological developments such as dynamic lighting, tunable white light, and wireless control systems are all contributing to the market’s expansion and expansion.
Industry Definition and Major Segments
When compared to traditional lighting solutions, a light emitting diode, or LED, is a cost – efficient and energy-saving solution with a wider range of applications. Overall, LED-based lights last longer and have the potential to cut overall power usage and greenhouse gas emissions significantly.
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The present report provides a segment-wise analysis of the market on the basis of product type including:
• Panel Lights
• Flood Lights
• Down Lights
• Street Lights
• Tube Lights
The report also segments the market based on application, such as:
The market can be further broken up by Sector:
In recent years, Saudi Arabia’s government has put a lot of effort into reducing carbon dioxide (CO2) emissions and encouraging sustainable growth. Consequently, the National Energy Efficiency Program (NEEP) was put into action, with the help of numerous organizations from around the country and around the world. The demand for LED lights across the country has increased as a result of this effort to conserve energy. As a result of rising urbanization rates, the number of smart city initiatives in the country has risen dramatically.
LED lights are used in the production of headlights and taillights, which are becoming more popular in the country. Saudi Arabia’s economy is being fueled by a combination of state and private investments in infrastructure development. The introduction of smart lighting solutions is also boosting product sales. Several other factors, including the availability of low-cost goods and the growing demand for street lighting systems, are expected to fuel Saudi Arabia’s industry.
Key Market Players
The major players in the market are Al Nasser Group, Saudi LED Light, National Lighting Company, Technolight, Inara Company Limited, Noortek, Nardeen Lighting Company LLC, Huda Lighting and Philips Saudi Lighting Company. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.