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Decorative Concrete Market Will Reach USD 26.8 Billion By 2030 In 2023, the decorative concrete industry yielded USD 18.0 billion in revenue. It is projected to experience a compound annual growth rate of 5.9% from 2024 to 2030, aiming to achieve a value of USD 26.8 billion by 2030. This is mainly because of its utilization in several commercial and residential structures because of its eco-friendly value and aesthetic appeal. Its working is not just limited to as of simple plain gray concrete, it is also very much utilized for several construction activities such as statues and other home decoration artifacts. Plain Gray concrete can be altered into ornamental concrete in a count of ways, like by including a range of admixtures during the pouring procedure and adding a range of colors that surge the final product’s aesthetic appeal and strength. The Ministry of Environment, Forests, and Climate Change (MoEFCC) has introduced the draft Green Credit Program Implementation Rules 2023. This initiative allows various stakeholders, including individuals, farmer-producer organizations (FPOs), industries, and local bodies, to earn green credits by engaging in activities that have a positive environmental impact. There's a growing trend towards incorporating green building components in new constructions, reflecting the increasing popularity of this approach. The rising urbanization and rising populace are the key factors for the growing count of infrastructure and construction activities, which, ultimately, boost the development of this industry. Under the Union Budget of 2023–24, the infrastructure was given USD 122 billion, which was around 3.3% of the Indian GDP and was around 3 times the sum allowed in the 2019–20 budget. The constant surge in the concrete industry is because of aesthetic appeal and the range of choices provided to customers to choose from. Concrete originates its worth from the price of its byproducts like coarse aggregates, cement, and fine aggregates, and their ease of obtainability. Raw materials needed for the making of decorative concrete have an unstable cost, therefore the variability in the cost of raw materials affects the price of the finished items to customers.   Decorative concrete involves numerous types like stamped, stained, colored, polished, epoxy, and overlay, which can apparently duplicate the natural appearance of stones, bricks, tiles, and natural wood textures. Among others, stamped concrete which is the most preferred during the decoration holds the largest market coverage rather than other kinds of concrete. In 2023, the category of the floor had the largest industry share, of 45%, because of its reasons such as durability, longevity, low maintenance, and appealing appearance. In 2023, the North American region had the largest share 40%, in the decorative concrete industry. This is because of the growing populace and technical improvements in the infrastructure industry. Also, the count of single-family houses is growing in several states of the U.S. Source: P&S Intelligence

Wireless Category Is Expected To Advance in Saudi Arabia Lighting Market The Saudi Arabia lighting market, when broken down by application, witnessed the residential sector take the lead in terms of both value and volume. Because the government has continued to support the private sector, Saudi Arabia has seen reasonably significant consumer income growth over the past ten years. Based on components, the fixture category had the largest volume and shares in the Saudi Arabian lighting industry. This was a result of the cheap maintenance costs and improved performance. Additionally, fixtures are a great option for companies trying to save expenses and boost revenues. Saudi Arabia's ambition to rapidly accelerate the usage of smart homes is further driving the development of voice control abilities in lighting systems and generating significant development in the Saudi lighting sector. Due to the anticipated significant increase in power demand of over 50% over the next 20 to 25 years, the Saudi Arabian lighting market for energy-efficient products is rapidly expanding. When compared to conventional lighting systems, the IEA predicts that smart lighting systems can reduce energy usage by up to 35%. Lighting consumes the bulk of the electricity utilized in the residential, commercial, and industrial sectors. Since lighting accounts for 15% of the country's total electricity consumption and 5% of its total greenhouse gas emissions, LEDs are employed to reduce both. As a result of the rapid adoption of smart home technologies, including energy management systems and access control systems, Saudi Arabia's need for lighting is rising rapidly. Smart homes are becoming more common in Saudi Arabia due to the government's supporting initiatives and the wider public interest in reducing energy use. This is because they have already made significant progress in developed countries. The government intends to hasten the adoption of smart lighting in residences (3.0% of households had smart bulbs in previous years); this would benefit the country's lighting industry even more. The wireless category is expected to grow more swiftly in the coming years based on technology. This resulted from the complete elimination of cords by such lights. Connected to the rest of the system are sensors, illumination, and the central control unit. This facilitates the addition and removal of lighting components from the system as well as the quick installation of new ones. Due to their larger operating range than wired systems, consumers of wireless lighting control solutions may strategically position their lights to save money and energy. The residential sector has always dominated the Saudi Arabian lighting industry regarding value and volume. Over the past 10 years, Saudi Arabia's consumer income has grown by a respectable amount due to the government's continuous support for the private sector. In terms of volume and revenue shares, the fixture category dominated the Saudi Arabian lighting sector. The low maintenance costs and enhanced performance were to blame for this. Fixtures are also an excellent choice for businesses looking to cut costs and increase profits. Read More: https://www.psmarketresearch.com/market-analysis/saudi-arabia-lighting-market