Saudi Arabia Conductors Market (2024-2030) | Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue

Saudi Arabia Conductors Market Synopsis

Saudi Arabia Conductors Market has experienced growth over the period 2020-2023 fueled by a surge in power & energy projects across the country along with several other giga projects which are under construction in the kingdom like the Red Sea project expected to contribute $5.8bn to GDP from 2030, King Salma Energy Park, and others. With projects valued at USD 3.6 billion currently under construction and an additional USD 37 billion expected to be awarded in 2023-2024, there is a clear trajectory for further diversification of conductor applications. Additionally, the expansion of renewable projects as the Saudi government is planning to invest heavily in new power generating capacity with installed power capacity in Saudi Arabia is estimated to increase from 82 GW in 2018 to 160 GW by 2040, to meet the rising electricity demand.

According to 6Wresearch, The Saudi Arabia Conductors Market size is projected to grow at a CAGR of 6.8% during 2024-2030F. Saudi Arabia's shift towards a non-oil economy and its substantial investment in infrastructure projects, driven by initiatives like Saudi Arabia's Vision 2030 and mega-projects such as Amaala, Qiddiya, King Salman Park, and New Murabba, align with the expanding conductors' market. The country's focus on transforming major cities into smart cities to accommodate the rising urban population presents a significant opportunity for the conductor's market. Moreover, the surge in smart building technologies a $38 billion plan for energy distribution by 2030 and an anticipated $293 billion expenditure on power and renewable energy projects, are poised to boost demand for conductors.

Market Segmentation by Applications

By application in Saudi Arabia conductor industry, the power & energy sector is set to grow significantly driven by expanding grid-connected solar capacity, under Saudi Arabia's clean energy strategy to achieve carbon neutrality by 2050. Moreover, the establishment of the Solar Energy Plan, to install 27.5 GW of solar capacity by 2030, and the planned construction of 7 utility-scale solar power plants is a part of Vision 2030, the demand for solar cables in the power utility sector will be the highest in the coming years.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Saudi Arabia Conductors Market Overview
• Saudi Arabia Conductors Market Outlook
• Saudi Arabia Conductors Market Forecast
• Historical Data and Forecast of Saudi Arabia Conductors Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of Saudi Arabia Conductors Market Revenues, By Applications, for the Period 2020-2030F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Trends
• Key Performance Indicators
• Saudi Arabia Conductors Market Revenue Share, By Companies, 2023
• Key Competitors Analysis
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Application

• Power & Energy
• Construction
• Telecommunications
• Industrial
• Others (Residential, Commercial, etc)

Frequently Asked Questions About the Market Study (FAQs):