Market Forecast by Types (AC Drives and DC Drives), Voltage (Low Voltage Drives (< 1 KV) and Medium Voltage Drives (1 KV & Above)), Power (Low Power Drives (< 40 kW), Medium Power Drives (41 - 200 kW) and High Power Drives (> 200 kW)), End-User (Oil and Gas, Petrochemical, Chemicals, and Fertilizers, Power Generation and Desalination, Water & Waste Water Management, Metals, Mining and Cement and Others), Applications (Pumps, Compressors, Extruders, Fans, Conveyors and Others), Regions (Central, Southern, Eastern, and Western) and Competitive Landscape
Product Code: ETC000379 | Publication Date: Aug 2024 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Saudi Arabia Electric Drives market currently, in 2023, has witnessed an HHI of 3297, Which has increased slightly as compared to the HHI of 1366 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The Saudi Arabia Electric Drives Market report thoroughly covers the market by types, voltage, power, end-user, applications, and regions. The analysis provides an impartial and detailed exposition of current market trends, growth prospects, and market drivers, assisting stakeholders in strategizing and aligning their market approaches in line with the existing and impending market landscape.
The Saudi Arabia Electric Drives market is rapidly growing, driven primarily by demand from sectors such as oil and gas, petrochemicals, chemicals, fertilisers, power generation and desalination, water and waste water management, metals, mining, and cement. Key reasons driving this increase include an increasing need for efficient electric drives and the use of various types of AC and DC drives in complicated systems. Electric drives come in three power capacities: low (<40 KW), medium (41 - 200 KW), and high (> 200 KW), making them suitable for a variety of applications and driving market growth. Partnerships with worldwide electric drive manufacturers, as well as local innovation, help to accelerate the development of a wide range of electric drives. The emphasis on quality, sustainability, and consumer ease demonstrates the Saudi market's dedication to providing superior electric drives.
According to 6Wresearch, the Saudi Arabia Electric Drives Market size is projected to grow at a significant CAGR of 53.5% during the forecast period 2025-2031. The Electric Drives market in Saudi Arabia is driven by a variety of factors. Customers increasingly desire electric powertrain solutions that are both efficient and environmentally friendly. Electric drives are becoming increasingly popular due to their durability and environmental benefits. Second, more people are realising the advantages of powerful electric drives, such as their efficiency, lifespan, and low maintenance requirements. Furthermore, the market share of Electric Drives is growing due to its adaptability in a wide range of applications, including pumps, compressors, extruders, fans, conveyors, and others, as well as the relevance of safety and environmental norms in many industries. In conclusion, the Saudi Arabia Electric Drives market is expanding due to the confluence of long-term trends, customer preferences, product benefits, and industry practices.
However, the Saudi Arabia Electric Drives Market confronts challenges that may impede its expansion. These include fluctuating raw material costs, stringent environmental regulations, and complex supply chain management. Rapid changes in market patterns, as well as the need for constant innovation, pose additional challenges. Disruptions in the global supply chain for electric drives could have a big impact on market growth. These difficulties must be handled by strategic alliances, R&D investments, strong supply chain management, and adaptable responses to market complexity.
Siemens, ABB, and Schneider Electric are among the leading participants in Saudi Arabia's electric drive industry. These companies are well-known for their skill in producing high-quality electric drives for a wide range of applications.
Government laws are critical for ensuring fair trade practices, environmental sustainability, and high quality standards in the Saudi Electric Drives business. The Saudi government has passed legislation in numerous sections of the Electric Drives market to protect consumers and promote ethical business practices. These limits may include manufacturing procedures, quality requirements to maintain high product standards, and labelling regulations to ensure product transparency. Furthermore, government regulations requiring sustainable practices in the production and processing of electric drives may help to relieve environmental concerns. Businesses in the Saudi Arabia Electric Drives industry must follow these rules to maintain their reputation and satisfy their customers.
The Saudi Arabia Electric Drives market is predicted to expand rapidly in the coming years, owing to factors such as industrial automation, expanding infrastructure projects, and greater use of electric vehicles. As the emphasis on energy efficiency grows, the demand for electric drives in industries such as manufacturing, oil and gas, automotive, and utilities is expected to skyrocket. The utilisation of current electric drive technologies to increase process control, reduce energy consumption, and improve overall operational performance is projected to propel the industry ahead. As Saudi Arabia seeks industrial diversification and long-term growth, the electric drives market is projected to play an important role in fostering efficiency and innovation throughout the country's economic landscape.
According to Dhaval, Research Manager, 6Wresearch, AC Drives are the market segmentation that is expected to expand the most. AC drives, also known as variable frequency drives (VFDs), play critical roles in industrial automation and control systems, providing precise speed control, energy efficiency, and operational flexibility in a wide range of applications.
Low Voltage Drives (< 1 KV) are expected to be the fastest growing market segment based on voltage. Low voltage drives, which work at voltages less than 1 KV, are critical components in a variety of industrial applications, providing precise control, energy efficiency, and motor protection.
Medium Power Drives (41 - 200 KW) are predicted to be the fastest growing market segment by Power. Medium power drives are essential for industrial applications that require moderate motor control, efficiency, and performance.
The Oil and Gas sector is expected to be the fastest growing market category by End-User. Saudi Arabia's oil and gas business is critical to the country's economy, with considerable investments made in petroleum exploration, production, refining, and distribution.
Pumps are the market category that is expected to expand the most. Pumps play an important part in a variety of industries, including water management, oil & gas, utilities, manufacturing, and construction, and they require precise control, energy efficiency, and dependability.
The Eastern area is the market segmentation that is predicted to expand the highest. The Eastern region of Saudi Arabia, which includes important towns like Dammam, Al Khobar, and Jubail, is well-known for its industrial hubs, petrochemical complexes, and infrastructural development initiatives.
The Saudi Arabia Electric Drives Market report provides a detailed analysis of the following market segments:
Market Forecast by Types (AC Drives and DC Drives), Voltage (Low Voltage Drives (< 1 KV) and Medium Voltage Drives (1 KV & Above)), Power (Low Power Drives (< 40 kW), Medium Power Drives (41 - 200 kW) and High Power Drives (> 200 kW)), End-User (Oil and Gas, Petrochemical, Chemicals, and Fertilizers, Power Generation and Desalination, Water & Waste Water Management, Metals, Mining and Cement and Others), Applications (Pumps, Compressors, Extruders, Fans, Conveyors and Others), Regions (Central, Southern, Eastern, and Western) and Competitive Landscape
Product Code: ETC000379 | Publication Date: Nov 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 131 | No. of Figures: 44 | No. of Tables: 11 |
The growing petrochemical industry, expansion of the industrial sector along upcoming infrastructural projects are some of the key factors which would fuel the growth of the Saudi Arabia Electric Drives market over the next six years. Further, the expected recovery of oil prices would also increase government funding in oil & gas and petrochemical projects which would drive the demand for electric drives in the country.
According to 6Wresearch, Saudi Arabia Electric Drives market size is projected to grow at a CAGR of 5.3% during 2017-23. Though the market witnessed a decline in 2015 and 2016 and the same trend is expected in 2017 as well, however, the market is likely to improve post-2017 due to the anticipated recovery of oil prices. Changing government policies, economic diversification, expansion of automotive manufacturing as well as growth in the petrochemical industry would fuel the market for electric Drives in Saudi Arabia.
In terms of power rating, high power drives dominated the Saudi Arabia Electric Drives Market Share by revenues on account of their huge consumption in the oil & gas and petrochemical industry. Further, high power drives would continue to dominate during the forecast period. Amongst all end users, the Petrochemical, Chemicals, and Fertilizers (PCF), Oil & Gas, Water, and Utilities sectors dominated the market, where major growth is exhibited in the PCF and Water and Utilities sectors. The key players in Saudi Arabia electric Drives market include- ABB, Schneider, Siemens and Rockwell, and Danfoss.
The Saudi Arabia Electric Drives Market report thoroughly covers the Saudi Arabia Electric Drives market by types, applications, end-users, and regions. The Saudi Arabia Electric Drives Market outlook report provides an unbiased and detailed analysis of the Saudi Arabia Electric Drives Market trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
• Saudi Arabia Electric Drives Market Overview
• Saudi Arabia Electric Drives Market Outlook
• Saudi Arabia Electric Drives Market Forecast
• Saudi Arabia Electric Drives Market Size and Saudi Arabia Electric Drives Market Forecast Revenues until 2023
• Historical Data of Saudi Arabia Electric Drives Market Revenues & Volume for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues & Volume until 2023.
• Historical Data of Saudi Arabia Electric Drives Market Revenues & Volume by Types for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues & Volume by Types until 2023.
• Historical Data of Saudi Arabia Electric Drives Market Revenues & Volume by Voltage for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues & Volume by Voltage until 2023.
• Historical Data of Saudi Arabia Electric Drives Market Revenues & Volume by Power for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues & Volume by Power until 2023.
• Historical Data of Saudi Arabia Electric Drives Market Revenues by End User for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues by End User until 2023.
• Historical Data of Saudi Arabia Electric Drives Market Revenues by Application for the Period 2015-2016.
• Market Size & Forecast of Saudi Arabia Electric Drives Market Revenues by Application until 2023.
• Market Drivers and Restraints.
• Saudi Arabia Electric Drives Market Trends and Developments.
• Saudi Arabia Electric Drives Market share, by Players.
• Saudi Arabia Electric Drives Market Overview on Competitive Landscape
• Company Profiles.
• Key Strategic Pointers.
Markets Covered
The Saudi Arabia Electric Drives Market report provides a detailed analysis of the following market segments:
• By Types
o AC Drives
o DC Drives
• By Voltage
o Low Voltage Drives (< 1 Kv)
o Medium Voltage Drives (1 Kv & Above)
• By Power
o Low Power Drives (< 40 kW)
o Medium Power Drives (41 - 200 kW)
o High Power Drives (> 200 kW)
• By End User
o Oil and Gas
o Petrochemical, Chemicals, and Fertilizers
o Power Generation and Desalination
o Water & Waste Water Management
o Metals, Mining, and Cement
o Others (includes Food and Beverages, Paper and Pulp, etc.)
• By Applications
o Pumps
o Compressors
o Extruders
o Fans
o Conveyors
o Other Applications
• By Regions
o Central
o Southern
o Eastern
o Western