Saudi Arabia Lighting Market Size Report, Industry Share, Analysis, Growth, 2032

Saudi Arabia Lighting Market

Saudi Arabia Lighting Market By Technology (Wireless and Wired), By Component (Control and Fixture), By Application (Commercial, Residential, Automotive, Outdoor, and Industrial), and By Country - Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032

Category: Semiconductor & Electronics Report Format : PDF Pages: 217 Report Code: ZMR-8285 Published Date: May-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 697.71 Million USD 2,251.07 Million 13.90% 2023

Saudi Arabia Lighting Industry Prospective:

The Saudi Arabia lighting market size was worth around USD 697.71 million in 2023 and is predicted to grow to around USD 2,251.07 million by 2032 with a compound annual growth rate (CAGR) of roughly 13.90% between 2024 and 2032.

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Saudi Arabia Lighting Market: Overview

Saudi Arabia Lighting is the industry that deals with the production, selling, and installation of lighting solutions in Saudi Arabia. It is a thriving sector as Saudi Arabia is investing heavily in exploring other industries apart from the traditionally dominated oil sector. Lighting is also known as illumination. It deals with the use of electrical and electronic components to generate light and use it for the purpose of illuminating a unit either for functional purposes or to improve the overall aesthetics of the installed place. Light solutions have wide-scale applications including residential, commercial, and industrial centers. Each end-user application has specific requirements and it is essential for the lighting solution provider to meet the client's needs.

For instance, lighting in a commercial center will be drastically different from the quality and quantity of light installations in an industrial setting. The Kingdom of Saudi Arabia has been seeking ways to expand its territorial presence. This has caused the region to invest more in emerging industries such as the lighting sector. Apart from the growing demand for efficient lights, the region is also planning to encourage domestic players to enter the international market. During the forecast period, the Saudi Arabia lighting sector is expected to generate high revenue.

Key Insights:

  • As per the analysis shared by our research analyst, the Saudi Arabia lighting market is estimated to grow annually at a CAGR of around 13.90% over the forecast period (2024-2032)
  • In terms of revenue, the Saudi Arabia lighting market size was valued at around USD 697.71 million in 2023 and is projected to reach USD 2,251.07 million by 2032.
  • The market is projected to grow at a significant rate due to the rising investments to encourage regional tourism.
  • Based on technology segmentation, the wireless segment is projected to swipe the largest market share.
  • Based on application segmentation, the residential segment is growing at a high rate and is projected to dominate the market.
  • On the basis of region, the eastern province is expected to dominate the market during the forecast period.

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Saudi Arabia Lighting Market: Growth Drivers

Rising investments to encourage regional tourism may generate high revenue during the projection period

The regional Saudi Arabia lighting market is expected to witness high growth due to the increasing investments made by the regional heads to promote tourism in the country. As per reports findings as of March 2024, Saudi Arabia plans to invest over USD 800 in tourism specially dedicated to the country’s tourism industry. The move is a result of the futuristic vision of the country leaders to help Saudi Arabia survive once the oil reserves are completely exhausted. By 2030, Saudi Arabia plans to host more than 150 million tourists every year. The country has registered high investments in infrastructure development projects to fulfill the vision. This includes the construction of modern commercial centers equipped with world-class technology including lighting solutions.

In June 2022, Arabian Centres, Saudi Arabia’s leading developer, owner, and operator of modern housing solutions in the country, launched new malls in the region. With this move, the company aims to provide customers with renewed shopping experience. The centers are built across 23.56ha of Gross Leasable Area (GLA). Apart from recreational travel, Saudi Arabia has become a leading hub for businesses and other corporate houses. In January 2024, US technology giants such as Apple, Microsoft, and Google were planning to invest in establishing regional headquarters in Saudi Arabia. The decision was made following new rules formulated by the regional government for state contracts which are expected to limit or curb economic leakage in the country.

Growing focus on sustainable solutions will drive demand for efficient lighting in the region

Saudi Arabia is not only focusing on developing infrastructure but it is also aiming at sustainable development. This trend can be witnessed in the construction of modern smart cities that run on clean energy. In February 2024, Saudi Arabia hosted the inaugural edition of the Global Smart City Forum that was organized by the Saudi Data and Artificial Intelligence Authority (SDAIA) in association with the Ministry of Municipal and Rural Affairs and the Ministry of Interior.

Smart cities deploy intelligent solutions that consume less energy and showcase improved performance as compared to their counterparts. The rise in the construction of smart cities is expected to drive the demand for intelligent lighting solutions in the region Saudi Arabia lighting industry.

Saudi Arabia Lighting Market: Restraints

Disruptions in the supply chain could restrict the market expansion rate

The regional industry for Saudi Arabia lighting is expected to be restricted due to the risk of disruptions in the supply chain. The basic raw materials used for the manufacturing of lights include glass, semiconductors, metal, ceramics, and electronics. Saudi Arabia does not entirely produce these raw materials independently.

For instance, Asia-Pacific is the leading region in the semiconductor industry and it is the major exporter of the technology. The changing social-political relationships at the international scale could lead to higher volatility in the supply chain of these raw materials thus effectively causing damage to the region’s lighting sector.

Saudi Arabia Lighting Market: Opportunities

Increasing the number of products offered in the market will be helpful in driving revenue

The regional Saudi Arabia lighting market will generate high growth opportunities as a result of increasing the number of solutions in the commercial market. Additionally, the companies operating in the Saudi Arabia sector are developing high-performance products thus ensuring the availability of quality lights in the market. In December 2023, India’s leading manufacturer of software and hardware solutions for energy management and smart lighting, Hynetics Electronics, made its entry into the Saudi Arabian market with the launch of street lighting proof of concept (POC) deployment in the region. The rising demand for smarter lighting fixes is expected to emerge as one of the fastest-growing segments in the coming years.

In October 2022, Signify Saudi Arabia announced the launch of a novel lighting range including smart solutions that can be operated using a smartphone. In December 2022, the holy city of Medina in Saudi Arabia witnessed the commencement of the first stage of implementing sustainable lighting solutions in the region. The project will include the replacement of yellow light bulbs with light-emitting diode (LED) streetlights.

Expansion of the region’s sports sector has high growth potential

The Saudi Arabia lighting industry has a high growth scope due to the increasing expansion of the region’s sports sector. Saudi Arabia has been investing heavily in the regional sports industry including sponsoring sports tournaments and adding international players to the country’s several sports clubs. In addition to this, the Kingdom of Saudi Arabia is also interested in developing an infrastructure that promotes sporting events in the region.

Saudi Arabia Lighting Market: Challenges

High competition from the international market will challenge the market expansion rate

The regional Saudi Arabia lighting market is expected to be challenged due to the high competition the industry faces from the international players. The lighting market is predominantly led by players operating from Asian and European nations. Saudi Arabia will need extended years of investments to reach its true potential since the international players are consistently working toward further developments in the products and associated solutions.

Saudi Arabia Lighting Market: Segmentation

Saudi Arabia lighting market is segmented based on technology, components, application, and region.

Based on technology, the market divisions are wireless and wired. In 2023, wireless technology witnessed the highest revenue. The segmental growth was led by the growing demand for connected lighting solutions that can be remotely operated. The rise in the number of modern lighting developers has assisted the segmental growth in the industry. Moreover, the wireless technology is known to consume less energy as compared to the wired counterpart. Wireless lights may last up to 50,000 hours.

Based on components, the Saudi Arabia lighting industry is divided into control and fixture.

Based on application, the market is segmented into commercial, residential, automotive, outdoor, and industrial. In 2023, the residential sector was the leading revenue generator. Lights are basic requirements for any residential unit. Modern housing facilities typically employ intelligent lighting for an improved living experience. The ongoing investments in Saudi Arabia for the development of smart cities are expected to drive the segmental growth rate. Saudi Arabia is developing a new smart city called NEOM that will extend over 26,500 square kilometers.

Saudi Arabia Lighting Market Report Scope

Report Attributes Report Details
Report Name Saudi Arabia Lighting Market
Market Size in 2023 USD 697.71 Million
Market Forecast in 2032 USD 2,251.07 Million
Growth Rate CAGR of 13.90%
Number of Pages 217
Key Companies Covered Schneider Electric, Philips Lighting, Zumtobel Group, General Electric (GE) Lighting, Osram, Eaton Corporation, Zumtobel Group, Signify, Thorn Lighting, Cooper Lighting Solutions, ABB Group, Cree Inc., Hubbell Incorporated, Acuity Brands, Lutron Electronics, and others.
Segments Covered By Technology, By Component, By Application, and By Region
Regions Covered in Saudi Arabia

Kingdom of Saudi Arabia

Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Saudi Arabia Lighting Market: Regional Analysis

Eastern province to exhibit high revenue during the forecast period

The regional Saudi Arabia lighting market will be led by the regions in the eastern province of Saudi Arabia. These regions have high economic value. The growing investments in infrastructure development across Saudi Arabia are expected to boost regional demand in the coming years. The rise in the construction of new healthcare facilities along with the increasing interest of the regional leaders in exploring the sports sector will generate high demand for efficient lighting solutions. In February 2024, Burjeel Holdings, an Abu-Dhabi-based leading healthcare firm, announced that it would invest Dh300 million for its expansion plans in Saudi Arabia.

In August 2023, the Saudi Society for Rheumatology (SSR) announced a partnership with the Texas International Education Consortium (TIEC) through which SSR will be constructing a world-class teaching hospital in the kingdom. In January 2024, Saudi Arabia unveiled the design for the futuristic stadium equipped with high technologies on top of a 200-meter cliff in Riyadh. The region plans to host the 2034 World Cup in this stadium. Such huge centers require extensive lighting. In addition to this, the growing research in the development of energy-saving and longer-lasting lights may fuel the regional market growth rate.

Saudi Arabia Lighting Market: Competitive Analysis

The Saudi Arabia lighting market is led by players like:

  • Schneider Electric
  • Philips Lighting
  • Zumtobel Group
  • General Electric (GE) Lighting
  • Osram
  • Eaton Corporation
  • Zumtobel Group
  • Signify
  • Thorn Lighting
  • Cooper Lighting Solutions
  • ABB Group
  • Cree Inc.
  • Hubbell Incorporated
  • Acuity Brands
  • Lutron Electronics

The Saudi Arabia lighting market is segmented as follows:

By Technology

  • Wireless
  • Wired

By Component

  •  Control
  •  Fixture

By Application

  • Commercial
  • Residential
  • Automotive
  • Outdoor
  • Industrial

By Region

  • Kingdom of Saudi Arabia

Table Of Content

Methodology

FrequentlyAsked Questions

Saudi Arabia lighting is the industry that deals with the production, selling, and installation of lighting solutions in Saudi Arabia. It is a thriving sector as Saudi Arabia is investing heavily in exploring other industries apart from the traditionally dominated oil sector.

The regional Saudi Arabia lighting market is expected to witness high growth due to the increasing investments made by the regional heads to promote tourism in the country.

According to study, the Saudi Arabia lighting market size was worth around USD 697.71 million in 2023 and is predicted to grow to around USD 2,251.07 million by 2032.

The CAGR value of Saudi Arabia lighting market is expected to be around 13.90% during 2024-2032.

The Saudi Arabia lighting market will be led by the regions in the eastern province of Saudi Arabia.

The Saudi Arabia lighting market is led by players like Schneider Electric, Philips Lighting, Zumtobel Group, General Electric (GE) Lighting, Osram, Eaton Corporation, Zumtobel Group, Signify, Thorn Lighting, Cooper Lighting Solutions, ABB Group, Cree, Inc., Hubbell Incorporated, Acuity Brands, and Lutron Electronics among others.

The report explores crucial aspects of the Saudi Arabia lighting market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.

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