Middle East's Semiconductor Light Emitting Diodes (LEDs) Market to See Modest Growth with Expected CAGR of +1.5% from 2024 to 2035

The Middle East's semiconductor LED market is set to experience continued growth in the coming years, with a projected increase in market volume and value. The anticipated CAGR of +1.5% in volume and +2.1% in value from 2024 to 2035 indicates a steady upward trend in consumption. This growth is driven by the rising demand for LEDs in the region, highlighting the potential opportunities for market expansion and development.

The value of the semiconductor LED market in the Middle East expanded to $9.7B in 2024, rising by 2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).

Overall, consumption, however, recorded buoyant growth. Over the period under review, the market hit record highs at $10.8B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure. Consumption By Country The countries with the highest volumes of consumption in 2024 were the United Arab Emirates (193K tons), Saudi Arabia (165K tons) and Turkey (64K tons), with a combined 72% share of total consumption. Lebanon, Yemen, Israel, Jordan and Iran lagged somewhat behind, together comprising a further 21%. From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Lebanon (with a CAGR of +80.6%), while consumption for the other leaders experienced more modest paces of growth. In value terms, the United Arab Emirates ($3.9B), Turkey ($2.3B) and Saudi Arabia ($2B) were the countries with the highest levels of market value in 2024, with a combined 84% share of the total market. Israel, Lebanon, Jordan, Iran and Yemen lagged somewhat behind, together comprising a further 10%. Lebanon, with a CAGR of +72.3%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

In 2024, the highest levels of semiconductor LED per capita consumption was registered in the United Arab Emirates (19 kg per person), followed by Lebanon (5.6 kg per person), Saudi Arabia (4.5 kg per person) and Israel (2.3 kg per person), while the world average per capita consumption of semiconductor LED was estimated at 1.6 kg per person. In the United Arab Emirates, semiconductor LED per capita consumption expanded at an average annual rate of +24.8% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Lebanon (+79.1% per year) and Saudi Arabia (+58.6% per year). Production Middle East's Production of Semiconductor Light Emitting Diodes (LEDs) In 2024, the amount of semiconductor light emitting diodes (LEDs) produced in the Middle East fell to 85K tons, which is down by -1.7% compared with 2023 figures.

In general, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 48%. The volume of production peaked at 88K tons in 2021; however, from 2022 to 2024, production remained at a lower figure. In value terms, semiconductor LED production reduced to $964M in 2024 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 48%. The level of production peaked at $1B in 2023, and then shrank in the following year. Please mention the Source: https://www.indexbox.io/blog/semiconductor-led-middle-east-market-overview-2024-5/