Saudi Arabia Wiring Devices Market Synopsis

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.

Market by Types

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.

Market by Applications

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.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2018 to 2028.
• Base Year: 2022
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Saudi Arabia Wiring Devices Market Overview
• Saudi Arabia Wiring Devices Market Outlook
• Saudi Arabia Wiring Devices Market Forecast
• Historical Data and Forecast of Saudi Arabia Wiring Devices Market Revenues for the Period 2018-2028F
• Historical Data and Forecast of Saudi Arabia Wiring Devices Market Revenues By Type, for the Period 2018-2028F
• Historical Data and Forecast of Saudi Arabia Wiring Devices Market Revenues By Applications, for the Period 2018-2028F
• Market Drivers
• Market Restraints
• Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Ranking
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Type

• Receptacles/Sockets
• Switches
• Wall Plates
• Plugs
• Others (Wire Mesh, Wire connectors etc.)

By Applications

• Residential
• Commercial
• Industrial
• Public and Transport Infrastructure

Frequently Asked Questions About the Market Study:

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.