(MENAFN- EIN Presswire)
SHERIDAN, WYOMING, UNITED STATES, July 14, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled 'Saudi Arabia LED Lights market : industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,' the Saudi Arabia LED lights market is expected to exhibit a CAGR of XX% during 2022-2027. Light Emitting Diode (LED) refers to a Semiconductor technology that utilizes electrical energy to provide energy-efficient lighting solutions. LED lights are directional sources of light that are characterized by a compact size and an extended lifespan. They are widely available in different shapes, sizes and colors to suit the requirements of the end-users. They are known to save up to 90% of the total energy usage while emitting little to no heat and greenhouse gases. They are environment-friendly in nature due to which they are widely replacing traditional lighting technologies, such as incandescent and fluorescent lights in Saudi Arabia. The numerous benefits associated with their use have contributed to their widespread utilization across the industrial , residential and commercial segments.
Request for a PDF sample of this report:
Saudi Arabia LED Lights Market Trends:
The market is primarily driven by the growing demand for energy-efficient solutions across Saudi Arabia. There has been a significant rise in the consumption of electricity on account of increasing expatriate population and extreme climatic conditions in the country. This, along with the inadequate power production and high electricity charges, is contributing to the growing awareness regarding the importance of energy-efficient lighting technologies, thereby providing a thrust to the market growth. There has also been a gradual shift from traditional lighting systems to LED lights due to an enhanced focus on energy conservation and sustainable development. Apart from this, a considerable increase in the number of green city projects in Saudi Arabia has facilitated the uptake of LED lighting solutions. This is supported by government initiatives, such as the Vision 2030 plan that aims to modernize infrastructure and expand the construction of smart cities. Furthermore, numerous favorable programs undertaken by the government to promote the use of LED lights are expected to create a positive outlook for the market. For instance, the government has increased tariffs on the imports of incandescent and compact fluorescent lights while implementing global energy efficiency standards in the country.
Note: 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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia LED lights market, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on product type, application, and import and domestic manufacturing.
Breakup by Product Type:
LED Panel Lights
LED Downlights
LED Street Lights
Others
Breakup by Application:
Commercial
Industrial
Residential
Others
Breakup by Import and Domestic Manufacturing:
Import
Domestic Manufacturing
Buy full report with TOC & List of Figures:
Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
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.
Other Reports:
Instant Coffee Market:
Europe PVC Pipes Market:
China Genetic Testing Market:
US Specialty Generics Market:
North America Frozen Seafood Market:
United States Fire Sprinklers Market:
North America Microgrid Market:
Southeast Asia Fire Sprinkler Heads Market:
Indian Feed Additives Market:
Indonesia Prepaid Cards Market:
About Us
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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+ 16317911145
email us here
MENAFN14072022003118003196ID1104529534
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.