Saudi Arabia Wiring Devices Market is projected to grow at a CAGR of 6.3% during 2022-2028F

Residential sector has been accomplished highest revenue share in the Saudi Arabia Wiring Device Market- 6Wresearch

The residential sector is growing as the government has been taking several initiatives to boost its residential sector and provide housing to its residents through various initiatives such as Also, there are major projects under construction, such as King Salman Park, Diriyah Gate, Jeddah Economic City, and Jeddah Central Project which would expect to the boost the commercial sector of country in forthcoming period. Saudi Arabia Wiring Devices Market has been growing at a moderate rate over the past few years owing to growing economic activities across the country. The rising urban population and growing infrastructure of the country leads to higher usage of electronic products and hence acts as a major growth driver for the wiring devices market. The market is expected to recover sharply in the coming years owing to the lifting of lockdown restrictions and increasing budget allocation in the development of the country’s infrastructure by the government.

According to 6Wresearch, the Saudi Arabia Wiring Devices Market is projected to grow at a CAGR of 6.3% during 2022-2028F. The wiring devices market in Saudi Arabia is likely to experience rapid growth in the forthcoming years on account of growing government investment in the power and energy sector coupled with rising urbanization and development across key application sectors driven by sector-wide economic growth, which would continue to fuel market demand.

According to Ravi Bhandari, Research Head, 6Wresearch, “Receptacles/Sockets segment is anticipated to dominate the wiring devices market revenues in Saudi Arabia during the forecast period, driven by the rapidly growing residential and commercial sectors of the country and substantial investments by domestic and foreign players in these sectors.”

“Saudi Arabia Wiring Devices Market (2022-2028)” report provides an in-depth analysis with 12 figures and 7 tables, covered in 67 pages. The Saudi Arabia wiring devices market report thoroughly covers the market by product types, and applications. Saudi Arabia wiring devices market report provides an unbiased and detailed analysis of the ongoing Saudi Arabia wiring devices market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.