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According to the latest IMARC group report, entitled “Saudi Arabia LED Lamp Market Size: Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026â€, The Saudi Arabia LED lamp market reached a value of SAR 3,245 million in 2020. In the future, IMARC group expects the market to reach a value of SAR 8,907 million. by 2026.
We regularly monitor the direct effect of COVID-19[female[feminine on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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A light emitting diode (LED) refers to an economical and energy efficient lighting device that emits light when electric current is passed through it. LED lighting products offer compact size, low heat output, high durability, minimum radiation emission and consume less power. These lamps are more efficient than other bulbs, due to which incandescent and fluorescent bulbs are quickly replaced by LED lighting systems.
The growing demand for the energy efficient lighting system, along with a significant drop in the price of LED, is mainly driving the LED market in Saudi Arabia. Additionally, growing environmental concerns have encouraged the use of LED lighting products to reduce carbon emissions from conventional fluorescent lamps. Moreover, the increasing use of LED lights in automotive, signage and signage, mobile devices, etc., is increasing the growth of the market. In addition, the growing demand for LED in architectural lighting in commercial and residential sectors is expected to further strengthen the LED market in Saudi Arabia in the coming years.
Competitive Analysis and Segmentation of Saudi Arabia LED Lamp Market 2021-2026:
Competitive landscape with key players:
The competitive landscape of the Saudi Arabia LED lamps market has been studied in the report along with the detailed profiles of the major players operating in the market.
Key market segmentation:
The report segmented the Saudi Arabia LED lamps market on the basis of product type, application and import and domestic manufacture.
Breaking by type of product:
- LED indicators
- LED spotlights
- LED street lights
- Others
Breaking by Application:
- Commercial
- Industrial
- Residential
- Others
Breaking by Importation and domestic manufacture:
- Import
- National manufacturing
Explore the full report with table of contents and list of figures: https://bit.ly/2Rce5iE
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
- Global market structure
- Complete 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 part of the customization.
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