Market Forecast By Types (Receptacles, Switches, Wall Plates, Plugs & Other Wiring Devices) and competitive landscape
Product Code: ETC002047 | Publication Date: Jan 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 67 | No. of Figures: 12 | No. of Tables: 7 |
Saudi Arabia Wiring Devices Market is currently at the growth stage and is anticipated to grow further on account of rise in construction activities such as rising commercial and residential infrastructure and government policies that aim to diversify the oil-based economy. Additionally, huge investments in various mega projects in construction, infrastructure development and power sectors have raised demand for wiring devices in the region. Furthermore, Saudi Arabia increased public-private partnership for the development of infrastructure, which is expected to further augment the demand for wiring devices. Hence, wiring devices market would show positive trend in the forecast period. On the other hand, the outbreak of the COVID-19 pandemic had a negative impact on the Saudi Arabia wiring device market, since COVID-19 lockdowns resulted in a sector-wide halt in economic activity as well as limitations on foreign travel. The construction sector, a key barometer for the growth of the wiring devices market, also suffered a significant decline in commercial and residential space development.
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 growing mainly due to growth in construction sector, increasing number of housing development projects and the rapid urbanization. Government’s initiatives to boost energy sector along with hassle free shifting towards renewable energy sources would act as a catalyst to propel the demand for wiring devices during the forecast period. Moreover, rising government investments in the construction sector are also expected to drive the demand for wiring devices in the forecast period. As the impact of COVID-19 subsides, the sales of wiring devices would increase. With the onset of different modern designs and innovations being introduced to the market of wiring devices, manufacturers are adopting and upgrading wiring devices by introducing new technologies on account of which the market of wiring device is anticipated to rise in the upcoming years.
Receptacles/Sockets captured a major share of Saudi Arabia wiring devices market revenues and are expected to retain its dominant position over the coming years owing to the multitude of uses of sockets. Additionally, open sockets (without switches) installed in residential and commercial sector contribute to the significance of socket market. Moreover, the demand for wiring devices is further expected to rise in forthcoming period on account of rising investment by government in construction sector.
The residential sector accounted for the majority of revenue share in the overall wiring devices market and a similar trend is anticipated in the forthcoming years as well on the back of rising Saudi Arabian government housing projects, such as rising residential supply across the Dammam metropolitan area, Jeddah, and Riyadh. Additionally, Saudi Arabia’s upcoming projects in the construction sector would further aid the wiring devices market’s growth in the upcoming future.
The report provides a detailed analysis of the following market segments:
1. Which factors are contributing to the growth of Saudi Arabia Wiring Device Market?
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 are some of the key factors contributing to the market growth.
2. Which factors are restraining the industry to grow?
In general, high import tariffs on Plastics and Building materials, along with OEMs margin to end-users, increases the price of wiring devices are restraining the market to grow.
3. What are the major trends in the Saudi Arabia Wiring Device Industry?
Growing demand for USB Integrated socket, technology upgradation, and LED Illuminated Switches are some of the major trends in the Saudi Arabia Wiring Device Industry.
4. Which of the application segment is growing rapidly?
The residential segment is growing rapidly and held the largest market share on the back of government housing projects in Saudi Arabia.
5. What are the major drivers of this market?
Government Initiatives for Energy and Power Sector and growing construction sector are the major drivers of wiring devices market in Saudi Arabia.
6. Is customization available in the market study?
Yes, we can do customization as per your requirements. Please feel free to write to us on sales@6wresearch.com for any customized or any other requirements.
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of the Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Saudi Arabia Wiring Devices Market Overview |
3.1 Saudi Arabia Wiring Devices Market Overview |
3.2. Saudi Arabia Wiring Devices Market Industry Life Cycle |
3.3. Saudi Arabia Wiring Devices Market Porter's Five Forces |
4. Impact Analysis of COVID-19 on Saudi Arabia Wiring Devices Market |
5. Saudi Arabia Wiring Devices Market Dynamics |
5.1 Impact Analysis |
5.2 Market Drivers |
5.3 Market Restraints |
6. Saudi Arabia Wiring Devices Market Trends & Evolution |
7. Saudi Arabia Wiring Devices Market Overview, By Types |
7.1 Saudi Arabia Wiring Devices Market Revenue Share and Revenues, By Receptacles/Sockets (2021 & 2028F) |
7.2 Saudi Arabia Wiring Devices Market Share and Revenues, By Switches (2021 & 2028F) |
7.3 Saudi Arabia Wiring Devices Market Share and Revenues, By Wall Plates (2021 & 2028F) |
7.4 Saudi Arabia Wiring Devices Market Share and Revenues, By Plugs (2021 & 2028F) |
7.5 Saudi Arabia Wiring Devices Market Share and Revenues, By Others (2021 & 2028F) |
8. Saudi Arabia Wiring Devices Market Overview, By Applications |
8.1 Saudi Arabia Wiring Devices Market Share and Revenues, By Residential (2021 & 2028F) |
8.2 Saudi Arabia Wiring Devices Market Share and Revenues, By Commercial (2021 & 2028F) |
8.3 Saudi Arabia Wiring Devices Market Share and Revenues, By Industrial (2021 & 2028F) |
8.4 Saudi Arabia Wiring Devices Market Share and Revenues, By Public and Transport Infrastructure (2021 & 2028F) |
9. Saudi Arabia Wiring Devices Market Key Performance Indicator |
10. Saudi Arabia Wiring Devices Market Opportunity Assessment |
10.1 Saudi Arabia Wiring Devices Market Opportunity Assessment, By Type, 2028F |
10.2 Saudi Arabia Wiring Devices Market Opportunity Assessment, By Applications, 2028F |
11. Saudi Arabia Wiring Devices Market – Competitive Landscape |
11.1 Saudi Arabia Wiring Devices Market Revenue Share, By Companies |
11.2 Saudi Arabia Wiring Devices Local Manufacturers |
11.4 Saudi Arabia Wiring Devices Market Imported Brands |
11.5 Saudi Arabia Wiring Devices Market Competitive Benchmarking, By Technical Parameter |
11.6 Saudi Arabia Wiring Devices Market Competitive Benchmarking, By Operating Parameter |
12. Company Profiles |
12.1 Schneider Electric KSA |
12.2 Legrand Saudi Arabia |
12.3 Alfanar Group |
12.4 NewPower |
12.5 ABB Limited |
12.6 Eaton Corporation |
12.7 MK Electric (Honeywell) |
12.8 Hager Middle East FZE |
12.9 Bahra Electric |
12.10 Interplast - KSA Interplast Group |
13. Key Strategic Recommendations |
14. Disclaimer |
List of Figures |
1. Saudi Arabia Wiring Devices Market Revenues, 2018-2028F ($ Million) |
2. Saudi Arabia Access to electricity (% of population, 2016-21) |
3. Saudi Arabia Electricity Consumption by Commercial and Residential Consumers, (Million, 2015-22E) |
4. Saudi Arabia Wiring Devices Market Revenues, By Types, 2018-2028F (USD Million) |
5. Saudi Arabia Wiring Devices Market Revenues, By Applications, 2018-2028F (USD Million) |
6. Number of Upcoming First Class and Luxury Hotel Projects in Saudi Arabia, By Cities, 2021- 2024F |
7. Saudi Arabia Upcoming First Class & Luxury Hotel Projects, 2021-2024F |
8. Saudi Arabia Office Supply Space, Q4 2020-2022E (Thousand Sq.mt. GLA) |
9. Saudi Arabia Residential Supply Stock, Q4 2020-2023F (Million Units) |
10. Saudi Arabia Wiring Devices Market Opportunity Assessment, By Types, 2028F |
11. Saudi Arabia Wiring Devices Market Opportunity Assessment, By Applications, 2028F |
12. Saudi Arabia Wiring Devices Market Revenue Share, By Companies, 2021 |
List of Tables |
1. Value of construction contracts awarded in the Middle-East by countries, 2019-2020, USD Million |
2. Saudi Arabia Upcoming Projects in Construction Sector, 2021 ($ Million) |
3. Saudi Arabia Customs Duty Rates on Imports |
4. Saudi Arabia Wiring Devices Market Revenues, By Types, 2017-2028F (USD Million) |
5. Saudi Arabia Wiring Devices Market Revenues, By Applications, 2018-2028F (USD Million) |
6. Saudi Arabia Wiring Devices Local Manufacturers |
7. Saudi Arabia Wiring Devices Imported Brands |
Market Forecast By Types (Receptacles, Switches, Wall Plates, Plugs & Other Wiring Devices) and competitive landscape
Product Code: ETC002047 | Publication Date: Jan 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Saudi Arabia Wiring Devices Market report thoroughly covers the market by kVA rating and applications. Saudi Arabia Wiring Devices market outlook report provides an unbiased and detailed analysis of the on-going 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.
Saudi Arabia Wiring Devices Market Synopsis
Saudi Arabia wiring devices market is anticipated to show a spurring growth in the forecast period owing to the growing construction activity in the country with around 5,000 projects in the pipeline, due to rising population and growing urbanization. Moreover, the rapid boost in the tourism industry is anticipated to augment the demand for wiring devices over the coming years, on account of rising investment in the construction of new hotels, malls, and retail outlets across the country. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in the overall market growth.
According to 6Wresearch, Saudi Arabia Wiring Devices Market size is projected to grow at CAGR of 3.4% during 2020-2026. The wiring devices market in the region registered a decline during the first half of 2020 on account of the global economic slowdown caused by COVID-19, however, the aforementioned market is expected to recover post-2020. The plugs dominate the wiring devices market, by types segment in 2019 and are anticipated to dominate the market during the forecast period owing to growing construction activity in the country. The increase in the construction of new infrastructural projects like NEOM smart city would drastically increase the demand for plugs in Saudi Arabia during the forecast period.
Market Analysis by Types
The plugs segment dominated the wiring devices, by types segment in 2019 and is anticipated to continue dominating the Saudi Arabia wiring devices market on account of their high-volume usage in various applications in the country during the forecast period. The wiring devices market in the region registered a decline during the first half of 2020 on account of the global economic slowdown caused by COVID-19, however, the aforementioned market is expected to recover post-2020.Wiring devices are a necessary component in the electrical system of every building, whether it is commercial, residential or industrial, as electrical wiring devices are crucial for power distribution and lighting of appliances. Moreover, Saudi Arabia’s Ministry of Housing has launched several projects to increase the number of residential units across the country, with the aim to increase the national homeownership rate by 60% in 2020 and 70% in 2030, this would raise the demand for wiring devices during the forecast period.
Key Attractiveness of the Report
Key Highlights of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
Frequently Asked Questions About the Market Study:
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