Saudi Arabia Wiring Devices Market (2024-2030) | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT

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

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

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2020.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Historical data of Saudi Arabia wiring devices market revenues for the period 2016-2019
• Saudi Arabia wiring devices market size and market forecast of revenues, until 2026F
• Historical data of Saudi Arabia wiring devices market revenues, by types, for the period 2016-2019
• Saudi Arabia wiring devices market size and market forecast of revenues, by types, until 2026F
• Market Drivers and Restraints.
• Market Trends and Developments.
• Player Market Share and Competitive Landscape.
• Company Profiles.
• Strategic Recommendations

Market Scope and Segmentation

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

• By Types
• Receptacles
• Switches
• Wall Plates
• Plugs
• Other Wiring Devices

 Frequently Asked Questions About the Market Study:

• Does the report consider COVID-19 impact?
  The report not only has considered COVID-19 impact but also current market dynamics, trends and KPIs into consideration.
  
  
• How much growth is expected in the Saudi Arabia Wiring Devices Market over the coming years?
  The Saudi Arabia Wiring Devices Market revenue is anticipated to record a CAGR of 3.4% during 2020-2026.
  
  
• Which segment has captured key share of the market?
  Plug Segments is the leading market segment in the overall market revenues in the year 2019.
  
  
• Which segment is exhibited to gain traction over the forecast period?
  Switches segment is expected to record key growth throughout the forecast period 2020-2026.
  
  
• Who are key the key players of the market?
  The key players of the market include- ABB Incorporated, Cooper Industries plc, Eaton Corporation, Hewlett-Packard (HP) Development Company L.P., Hubbell Inc., Legrand Group, Leviton Manufacturing Co Inc., OREL Mfg. (Pvt.) Ltd., Schneider Electric SA, and SMK Corporation
  
  
• Is customization available in the market study?
  Yes, we can do customization as per your requirements. Please feel free to write to us sales@6wresearch.com for any customized or any other requirements
  
  
• We also want to have market reports for other countries/regions.
  6Wresearch has the database of more than 60 countries globally, which can make us your first choice of all your research needs.

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