Transparency Market Research

Electrical Market in Saudi Arabia to Register 10.40% CAGR from 2015 to 2023 Owing to Booming Construction Industry

Electrical Market (Electrical Solutions (Metallic Cable Management Systems, Low Voltage Systems, Wiring Devices, Lighting Control Systems, Lightning Protection Systems), Lighting Solutions) - Saudi Arabia Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023


Albany, NY -- (SBWIRE) -- 05/06/2016 -- Transparency Market Research, a global market intelligence firm, has recently made an announcement regarding the publication of a new market research report made available on the company website. The 165-page research study provides a detailed analysis of the electrical market in Saudi Arabia, focusing on the product segmentation, current trends, and competitive scenario. The research study, titled "Electrical Market - Saudi Arabia Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023," further talks about the major driving factors and restraints of the market. According to the study, in 2014, the Saudi Arabia electrical market was worth US$4.5 bn and is anticipated to reach a value of US$10.8 bn by the end of 2023. The market is projected to exhibit a healthy 10.40% CAGR between 2015 and 2023.

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The electrical market comprises several products to provide connection points, secure cables, and low-voltage products that are used in diverse applications rated under 1 KV. The growing construction activities and developing infrastructure are some of the major factors driving the electrical market in Saudi Arabia. In addition, new standards and product innovation are further expected to trigger the replacement of existing infrastructure and equipment with new and energy-efficient alternatives. This is further estimated to fuel the growth of the market in the next few years.

The electrical market in Saudi Arabia has been broadly classified on the basis of solution into electrical solutions and lighting solutions. Furthermore, on the basis of product type, the market has been divided into low-voltage systems, lighting control systems, wiring devices, metallic cable management systems, and lightning protection systems. In 2014, the low-voltage segment dominated the market, holding a 53% share in the Saudi Arabia electrical market. The rapid growth of this segment can be attributed to the developing smart grid infrastructure and the growing emphasis of major players on transmission projects and electrical distribution in the oil and gas and power industries in Saudi Arabia. Nevertheless, the lighting control systems segment is projected to grow at a fast pace, exhibiting a significant 14.30% CAGR between 2015 and 2023, thanks to the rapid urbanization in this region.

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Furthermore, the LED lighting technology segment is anticipated to register a 23.60% CAGR between 2015 and 2023 due to the growing demand for efficient lighting systems in this region. Furthermore, the Saudi Arabia electrical market has also been segmented on the basis of application in the report. The market estimates and share of key segments have been included in the scope of the research report.

The research study further covers the vendor analysis and competitive landscape of the electrical market in Saudi Arabia. The major players in this region face strong competition, owing to which the growing construction and hospitality industries are being targeted to fuel the growth of the market. In addition, some of the other strategies of these players in order to create a niche are expanding and strengthening the core business, focus on automation and digital transformation, and targeted mergers and acquisitions.

The prominent players operating in the electrical market in Saudi Arabia include Siemens AG, Al-Abdulkarim Holdings Co., Leviton, Hager, ABB Ltd., Honeywell International, Inc., Schneider Electric SA, TE Connectivity Ltd., TECON, Eaton Corporation, GE Co., Al Fanar, Legrand S.A., Debbas, Atkore International Holdings Ltd., Koninklijke Philips N.V., Hesham El-Sewedy Ent, and Lutron.

Key Segments of the Saudi Arabia Electrical Market:

Saudi Arabia Electrical Market, by Solutions

Electrical Solutions
Lighting Solutions

Saudi Arabia Electrical Solutions Market, by Products

Metallic Cable Management Systems
Cable Tray Systems
Cable Conduit Systems
Raceway Systems
Others (Floor Ducts & Junction Boxes, etc.)
Low Voltage (LV) Systems
LV Switchgears
Automatic Transfer Switch (ATS)
LV Panel Boards
Others (LV Components, etc.)
Wiring Devices
Sockets & Extension Leads
Others (Electrical Accessories, etc.)
Lighting Control Systems
Lightning Protection Systems
Lightning Protection
Conventional Systems
Non-conventional Systems (ESE)
Earthing Protection
Earthing Systems
Surge Protection Devices
Others (UPS Systems, etc.)

Saudi Arabia Lighting Solutions Market, by Technology

LED Lighting
Other Lighting

Saudi Arabia Lighting Solutions Market, by Application

Commercial Lighting
Decorative Lighting
Flood Lighting
Hospital Lighting
Street Lighting
Tunnel Lighting
Pool Lighting
Area Lighting
Cinema and Theater Lighting
Solar Lighting

Saudi Arabia Lighting Control Systems Market, by Application

Commercial Applications
Hospitality Applications (including GRMS)
Home Automation Systems
Sensor Automation Systems
Wireless Automation Systems
Other Commercial Applications
Home Automation Systems
Sensor Automation Systems
Wireless Automation Systems
Residential Applications
Home Automation Systems
Sensor Automation Systems
Wireless Automation Systems

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