Saudi Arabia Wiring Devices Market is projected to grow at a CAGR of 7.1% during 2024-2030F

In terms of types, the receptacles/sockets category obtained the maximum revenue share in Saudi Arabia Wiring Devices Market – 6Wresearch

In 2023, receptacles/sockets emerged as the leading contributor to market revenue and are anticipated to maintain their dominance throughout the forecast period, owing to their versatile applications in both residential and commercial settings.

According to 6Wresearch, Saudi Arabia Wiring Devices Market is projected to grow at a CAGR of 7.1% during 2024-2030F. The construction market in Saudi Arabia is projected to grow significantly, with an estimated value of $70.33 billion in 2024. By 2029, it is expected to reach $91.36 billion, indicating a notable expansion in the sector over the forecast period. The Saudi Arabian government is making substantial investments in construction projects as part of the country's Vision 2030. Various ongoing initiatives like the Neom City project, Red Sea project, King Salman Park, and Jeddah Tower project are in the pipeline. The launch of these significant construction projects is expected to drive up the demand for wiring devices, driven by the increasing need for machinery, lighting, control systems, and power distribution.

Labour shortages and regulatory compliance burden would place pressure on wiring device manufacturers, leading to increased costs. As a result, there could be a negative impact on the demand for wiring device products.

According to Suryakant, Senior Research Analyst, 6Wresearch, with the rise in commercial development across the country, especially in Riyadh and Jeddah, the commercial sector should be the focus segment, as it is expected to exhibit the fastest growth in the forecast time frame.

Saudi Arabia Wiring Devices Market (2024-2030) report provides an in-depth analysis with 11 figures and 8 tables, covered in 65 pages. The report comprehensively covers the market by types and applications. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.

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