Exhibition Introduction
As Saudi Arabia strives to achieve long-term economic goals and urban development plans, its construction industry will continue to thrive. The surge in hotels, accommodations, shopping centers, and commercial projects has provided a huge market space for the Saudi lighting industry. These projects not only require high-quality lighting equipment and technology, but also innovative lighting design solutions to meet the needs of different places and functions. At present, the Saudi lighting market has reached a size of 1.3 billion US dollars.
Currently, Saudi Arabia has over 3000 active construction projects with a total value of $1.3 trillion, accounting for 54% of the Gulf Cooperation Council project market.
The population of Saudi Arabia continues to grow, and it is expected that its population will increase from 25 million to 57 million by 2030. Faced with such a large population expansion, the demand for housing and hotel accommodation in China is constantly increasing. Although the number of manufacturers engaged in building materials and interior decoration materials in Saudi Arabia continues to increase, it is still far from enough compared to domestic demand, and a large amount of building materials and interior decoration materials rely on imports. The multi billion dollar building materials market in Saudi Arabia has made this exhibition one of the most significant construction trade shows in the construction industry. Chinese products have strong development potential and potential for growth in Saudi Arabia. Including $5.5 billion in new road construction, $1 billion in school expansion, $4.5 billion in basic fitness center construction, $117 billion in power grid construction and expansion, and $5 billion in communication project construction.
As the host of the 2030 World Expo, Saudi Arabia will invest heavily in infrastructure construction and renovation, and the Expo is expected to bring about an economic growth of 94.64 billion US dollars. This growth will directly and indirectly affect multiple industries, especially the construction, real estate, and hotel industries. Saudi Arabia is expected to build 315000 new hotel rooms for the World Expo. In the vast potential Saudi market, the lighting design and technology industry is crucial.
Data shows that the lighting market in the Middle East is expected to continue growing at an annual growth rate of 5% in the future.
As an important component of Saudi Arabia’s Vision 2030, the “Smart City Strategy” has brought a vast market for smart lighting. The compound annual growth rate of Saudi Arabia’s smart lighting market is expected to reach 7.1% from 2023 to 2028. By 2026, the smart lighting market in Saudi Arabia is expected to reach a size of 1.46 billion US dollars.
In 2022, the LED lighting market in Saudi Arabia is expected to reach a size of approximately 1 billion US dollars, with a compound annual growth rate of 17% during the forecast period (2022-28), and is projected to reach 2.5 billion US dollars by 2028. The market size of Saudi Arabia’s LED display is expected to be around 90 million US dollars in 2022, with a compound annual growth rate of 22% during the forecast period (2022-28), and will exceed 300 million US dollars by 2028.
Saudi Arabia is undergoing a significant transformation. This prosperous global metropolis is showcasing its unique charm and vitality to the world. By participating in the Saudi Lighting and Interior Exhibition, you will meet top lighting designers, consultants, system integrators, engineers, architects, hotels and hotel owners, interior designers, and decoration companies in the industry. At the same time, this will also provide a platform for your company to showcase its strength and increase its visibility, allowing you to stand out in fierce international competition.
The Saudi government stated that the surplus from the soaring oil prices will be used for infrastructure construction
The Saudi government stated in its 2023 budget statement that, thanks to high oil prices, revenue is expected to reach 1.13 trillion riyals (approximately $300 billion) next year, total expenditure will be 1.114 trillion riyals (approximately $296 billion), and a surplus of 16 billion riyals is expected next year. This is also the first time since 2013 that the country has achieved an annual fiscal surplus.
Saudi Crown Prince Mohammed bin Salman said in a speech that the 2023 budget will support strategic spending, achieve Saudi Arabia’s economic transformation, and free the country’s economy from dependence on oil. As the largest economy in the Middle East, Saudi Arabia uses the surplus generated by the soaring oil prices to build infrastructure, roads, and public works, create employment opportunities, and improve people’s living standards.
According to the statement, Saudi Arabia’s Gross Domestic Product (GDP) growth rate for 2022 is expected to reach 8.5%, with a projected growth rate of 3.1% next year. The International Monetary Fund (IMF) predicts that Saudi Arabia’s economic growth rate will reach 7.6% this year.
While the United States, Europe, and many developing economies are facing rising inflation and recession, energy exporting countries such as Saudi Arabia and Qatar are experiencing a period of prosperity. The high natural gas prices have provided support for Qatar’s $200 billion infrastructure investment, the successful hosting of the 2022 World Cup, and long-term economic development.
Saudi Arabia is currently undergoing a significant economic transformation, which is in line with its overall “Vision 2030” strategy, which also includes creating a higher quality of life for residents, attracting more tourists, and developing a more diverse and future oriented economy. Saudi Arabia has announced a series of ambitious new projects to support its plans, such as the Neom and Red Sea projects.
Among the projects announced so far, NEOM is considered the largest. NEOM will have sub cities such as Oxagon, Trojena, and The Line. Another huge task is the $20 billion Diriyah Gate in Riyadh. By 2027, it will add 20000 housing units to Saudi Arabia’s housing stock. In the past six years, Riyadh has announced real estate projects worth approximately 104 billion US dollars. It is expected that by 2030, the population of the city will increase from the current approximately 7.5 million to 17 million.
Saudi Arabia’s’ Vision 2030 ‘strategy, with projects exceeding $1 trillion already underway
According to a new analysis, Saudi Arabia has launched projects worth over $1 trillion since the launch of its Vision 2030 strategy, which aims to transform the country into an economic powerhouse.
Global real estate consulting firm Knight Frank Real Estate Brokerage stated that these projects, including independent super cities such as NEOM, will provide 300000 new homes for 9 million residents. This global real estate consulting company is currently tracking 15 mega projects that are in the construction phase at various stages in the kingdom.
It is estimated that since the launch of Saudi Arabia’s transformation plan, the total value of real estate and infrastructure projects has exceeded $1.1 trillion. The astonishing transformation happening in the world’s fastest-growing economy is clearly visible throughout the urban landscape… The Kingdom of Saudi Arabia’s construction plans will make Saudi Arabia the world’s largest construction site, “said Faisal Durrani, Managing Partner for Middle East Studies.
As part of Saudi Arabia’s large-scale transformation plan, it is expected to deliver over 555000 residential units, 275000 hotel rooms, over 4.3 million square meters of retail space, and over 6.1 million square meters of new office space by 2030.
According to Knight Frank, approximately one-third of homeowners in Saudi Arabia are planning to spend over $800000 on their second home in the kingdom, so development projects like the NEOM sub city should be able to meet this suppressed demand.
Scope of exhibits
Switches and other accessories: lighting electrical products supporting components and parts: various switches, wires, cables, relays, ballasts, triggers, transformers, insulation materials, electronic components, lamp heads, lamp holders, fluorescent powders, electronic powders, quartz tubes, glass tubes (shells), electrical grade materials, tungsten wires and other specialized metal wires; Lighting accessories, light source accessories, bulbs, wax tail bulbs, flashlights, wires and cables, lamp holders, energy-saving lamps, light bulbs, electrical appliances, T4/T5/T8 brackets, hardware accessories, LED accessory tools, sockets, plugs, etc;
Lighting control and components: dimming control equipment and various lighting control devices, light control, sound control, infrared sensing devices, dimming table, etc;
Intelligent lighting products and solutions: artificial intelligence, data analysis, network security solutions, industrial automation, Internet of Things, smart cities, intelligent technology, etc;
Decorative lighting products and accessories: flower lights, fabric lights, crystal lights, wall lights, craft lights, landscape lights, neon lights, stage lights, movie lights, TV lights, etc;
Interior and exterior lighting products and accessories: integrated home lighting, ceiling lights, aluminum lights, flower lights, fabric lights, bathroom heater lights, crystal lights, table lamps, wall lights, craft lights, children’s lights, pendant lights, LED flat panel lights, floor lamps, integrated ceiling lighting, explosion-proof, industrial and mining lighting, flashlights, LED flashlights, civilian lighting fixtures, building lighting fixtures, industrial and mining lighting fixtures, solar lighting fixtures, projection lighting fixtures, indoor lighting fixtures, embedded lighting fixtures, marine fluorescent lighting fixtures, marine explosion-proof lighting fixtures, road lighting fixtures, special vehicle sign lighting fixtures, explosion-proof lighting fixtures, underwater lighting fixtures, emergency lighting fixtures, etc;
Infrastructure and lighting in public areas: landscape lights, solar street lights, garden lights, lawn lights, plant simulation lights, courtyard lights, street lights, road lights, underwater lights, air purification and other environmentally friendly lights, public lighting fixtures, etc.
