The report segments the Saudi Arabia electrical market into electrical solutions and lighting solutions. Until now, the economy of Saudi Arabia has been majorly based on the oil & gas sector. However, during the recent years, there has been a decline in oil prices, impacting the economy. In order to mitigate the impact of a decline in oil prices, the country’s government is promoting developments in other sectors, including the construction industry. The significant growth of investments by the government is driving the growth of the construction industry in Saudi Arabia, which in turn is driving the expansion of the lighting and electrical market.
The Saudi Arabia electrical solutions market is segmented by products into metallic cable management systems, low voltage systems, wiring devices, lighting control systems (commercial applications, residential applications), and lightning protection systems (lightning protection, earthing protection). Metallic cable management systems are further segmented into cable tray systems, cable conduit systems, raceway systems, and others (floor ducts and junction boxes, etc.). Cable conduit systems is expected to be the largest product segment over the forecast period. Low voltage systems are segmented into LV switchgears, isolators, automatic transfer switch, LV panel boards, and others (LV components, etc.). In 2014, low voltage (LV) systems dominated the Saudi Arabia electrical solutions market. Rising demand for LV switchgears and other LV components was the key driver for the growth of the LV systems market in Saudi Arabia. Wiring devices include sockets and extension leads, connectors, switches, others (electrical accessories, etc.). Lighting control systems is expected to be the fastest-growing segment in the Saudi Arabia electrical solutions market over the forecast period from 2015 to 2023.
The Saudi Arabia lighting market is segmented by technology into LED lighting and other lighting. Applications segments of the Saudi Arabia lighting market include commercial lighting, decorative lighting, flood lighting, hospital lighting, street lighting, tunnel lighting, pool lighting, area lighting, cinema and theatre lighting, and solar lighting. The LED lighting market is expected to witness high growth over the forecast period. The growth of this segment is mainly attributed to increasing demand for energy-efficient lighting solutions. The street lighting segment is expected to be the largest application segment; however, the tunnel lighting segment is expected to be the fastest growing segment over the forecast period. Transport network upgrades have paved the way for the construction of new tunnels in Saudi Arabia. Such upgrades in transport network are supporting the growth of the street lighting and tunnel lighting segments. The lightning protection systems segment is driven by conventional lighting systems, which accounted for a major share of the Saudi Arabia lightning protection systems market in 2014. The growth of the lighting control systems market is attributed to growing demand from the hospitality sector in Saudi Arabia.
Major players in the Saudi Arabia electrical market include Legrand S.A., ABB Ltd., Atkore International Holdings Ltd., Eaton Corporation, Koninklijke Philips N.V., Honeywell International, Inc., GE Co., Siemens AG, Schneider Electric SA, TE Connectivity Ltd., Al Fanar, Hesham El-Sewedy Ent, Hager, TECON, Lutron, Debbas, Leviton, and Al-Abdulkarim Holdings Co. Focus on growth through targeted mergers and acquisitions, focus on digital transformation and automation, and strengthening and expanding the core business, are a few of the strategies adopted by leading players in the Saudi Arabia electrical market. Players in the Saudi Arabia electrical and lighting market are targeting the growing hospitality and construction industries in Saudi Arabia.