Saudi Arabia LED Packaging Market Poised for Moderate Growth: Likely to Grow at a CAGR of 4.8% by 2027
Published | 02 November 2021
Government initiatives and regulations that promote the use of LEDs for energy efficiency and environmental benefits are driving Saudi Arabia's LED packaging market. Additionally, the rise of the Internet of Things (IoT)-connected lighting fixtures and smart lighting solutions is aso favoring the market’s growth…
A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that Saudi Arabia LED packaging market is growing at a CAGR of 4.8 % during the forecast period (2021-2027). The increasing usage of LEDs, the rising popularity of smart homes, and the emergence of smart city initiatives in the country are all driving the Saudi Arabia, LED packaging market forward.
The Production of Micro-LEDs on Large Silicon Wafers Creating Immense Opportunities for the Market
It has been very difficult to manufacture micro-LEDs on wafers from a cost and yield perspective. Today, sapphire wafers are used by the majority of LED producers. These wafers used in LED devices are small in diameter and expensive, limiting the cost reduction of LED devices.To resolve the issue, GaN-on-silicon technology has been developed by ALLOS Semiconductors, Plessey Semiconductors, Aledia, and a few other conventional LED manufacturers. These firms are working together with the world's leading LED foundries to increase large-scale manufacturing capability. This development is likely to expand the use of large-sized wafers (more than 4 inches) in LED product manufacture. Epitaxial crystal growth technique MOCVD (Metal Organic Chemical Vapor Deposition) or MOVPE (Metalorganic Vapour-Phase Epitaxy) is utilized to produce high-quality GaN-on-Si epitaxial wafers using this method. The technology, on the other hand, has yet to be optimized for micro-LEDs. GaN-on-Si is a promising technology for the LED market, and once developed, it has the potential to reduce the cost of micro-LED manufacture dramatically.
Saudi Arabia LED Packaging Market: By Package Type
The Saudi Arabia LED packaging market is categorized into SMD (Surface Mount Device Package), COB (Chip On Board Package), CSP (Chip Scale Package), and others based on package type. Among these, the SMD LEDs held a significant market share in 2020 and is likely to dominate the segment during the forecast period. SMD LEDs can handle chips with intricate designs and have a wide range of applications. Moreover, SMD LED packages used in luminaires are becoming increasingly popular due to their superior energy efficiency than other conventional light sources. SMD LED prices have also decreased considerably, making them more accessible to customers and facilitating growth. With the technology's superior flexibility and versatility, SMD LED packages are expected to gain popularity over time.
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Impact of COVID-19 on Saudi Arabia LED Packaging Market
As a result of the pandemic outbreak, the LED packaging market in Saudi Arabia has been negatively impacted due to travel restrictions and a halt in end-use industries. Saudi Arabia, for instance, had one of the most significant infrastructure and building industries in the Gulf Cooperation Council (GCC), with more than USD 825 billion in planned and unawarded projects before the Covid-19 outbreak. As of 2018, the value of contracts awarded increased from USD 11.2 billion in 2016 to USD 14.6 billion. Because of the COVID-19 pandemic, the value of building contracts awarded in Saudi Arabia in the third quarter (Q3) of 2020 fell by 84% compared to the same period in 2019. Increasing private sector investment, Vision 2030, NTP 2020, and ongoing reforms will likely drive the Saudi construction market in the upcoming years, ultimately driving the LED packaging market in the forecast period.
Saudi Arabia LED Packaging Market - Competitive Landscape
Due to the limited number of players, Saudi Arabia’s LED packaging market is moderately fragmented. Staying competitive in the market requires companies to develop new products, expand, and acquire. Leading companies are buying overseas producers in order to expand their global footprint. Some key players in Saudi Arabia LED packaging market are Al Nasser Group, Saudi LED Light, National Lighting Company, Technolight, Inara Company Limited, Noortek, Nardeen Lighting Company LLC, Huda Lighting, Philips Saudi Lighting Company, and other prominent players.
In April 2021, as part of the Riyadh energy efficiency project, the National Energy Efficiency Services Company (NESCO) announced its plan to replace 74,000 conventional "sodium" lamps with other smart systems (LED) lights. Local governments and NESCO, commonly known as Tarshid, have signed agreements.
Don’t miss the business opportunity of Saudi Arabia LED packaging market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia LED packaging market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia LED packaging market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Saudi Arabia LED Packaging Market- Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Package Type (SMD (Surface Mount Device Package), COB (Chip On Board Package), CSP (Chip Scale Package), and Others); By Power Range (Low- & Mid-Power Led Packages, and High-Power Led Packages); By Wavelength (Visible & Infrared, and Deep UV); By Packaging Material (Plastic , Nanoceramics, Ceramics, Silicone Materials, Epoxy Molding Compound, Metal Alloys, Polymers, Glass Composites, and Others); By Application (Automotive, Residential, Television, Industrial, and Others)
Publish Date: November 2021
Saudi Arabia's LED packaging market is driven by increasing demand for LED packages in the display panel market, as well as government initiatives and regulations encouraging the use of LEDs for energy efficiency and environmental benefits. Additionally, the growth of IoT-connected lighting fixtures and smart lighting solutions is also driving the market’s growth.
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