According to the latest report by IMARC Group, titled “Saudi Arabia LED Lights Market Size: Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the saudi arabia LED lights market reached a value of SAR 3,245 Million in 2020. Looking forward, IMARC Group expects the market to reach a value of SAR 8,907 Million by 2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A light-emitting diode (LED) refers to a cost- and energy-efficient lighting device that emits light when the electric current passes through it. LED lighting products offer compact size, low heat output, high durability, minimum radiation emission, and consume less power. These lights are more efficient in comparison to other light bulbs, due to which incandescent and fluorescent bulbs are rapidly being replaced by LED lighting systems.
The escalating demand for the energy-efficient lighting system, along with a significant decline in the price of LEDs, is primarily driving the Saudi Arabia LED market. Furthermore, the growing environmental concerns have encouraged the use of LED lighting products for reducing the carbon emissions from conventional fluorescent lights. Moreover, the rising usage of LED lights in automotive, signal and signage, mobile devices, etc., is augmenting the market growth. Additionally, the increasing demand for LEDs in architectural lighting across both the commercial and residential sectors is expected to further bolster the Saudi Arabia LED market in the coming years.
Saudi Arabia LED Lights Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the saudi arabia led lights market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the saudi arabia led lights market on the basis of product type, application and Import and Domestic Manufacturing.
Breakup by Product Type:
- LED Panel Lights
- LED Downlights
- LED Street Lights
Breakup by Application:
Breakup by Import and Domestic Manufacturing:
- Domestic Manufacturing
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/saudi-arabia-led-lights-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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