Market Forecast By Types (AC Electric Motor And DC Electric Motor), By Power Output (Fractional Horsepower And Integral Horsepower), By Voltage (Low Voltage, Medium Voltage And High Voltage), By Application (Pumps, Fans, Compressors, Conveyors And Others (Centrifuges, Extruders And Winches)), By End-User (Industrial Machinery, HVAC Equipment, Automobile, Consumer Appliances, Aerospace & Transportation, Power Generation And Others Commercial Application (Agriculture And Mining)) And Competitive Landscape
Product Code: ETC002409 | Publication Date: Apr 2020 | Updated Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Saudi Arabia Electric Motor Market registered a decline of -50.98% in value shipments in 2021 as compared to 2020 and a decrease of -2.67% CAGR in 2021 over a period of 2017. In Electric Motor Market Saudi Arabia is becoming less competitive as HHI index in 2021 was 2243 while in 2017 it was 1061. 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 less numbers of players or countries exporting in the market.
Saudi Arabia has reportedly relied more on imports to meet its growing demand in Electric Motor Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Electric Motor Market in 2021 was 2.18 while in 2017 it was 40.15. China, Brazil, Germany, Finland and France were among the top players of the market in 2021, where China acquired the largest market share of 30.03% with a shipment value of 17.33 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Electric Motor Market. In 2017 Sweden had the largest market share of 23.13% with the shipment value of 31.18 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Sweden offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Saudi Arabia Electric Motor Market in 2017.
In the year 2021, Sweden was the largest exporter in terms of value, followed by Italy. It has registered a growth of 150133.78% over the previous year. While Italy registered a growth of 10.67% as compare to the previous year. In the year 2017 Sweden was the largest exporter followed by China. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Saudi Arabia has the Herfindahl index of 1061 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of 820 which signifies high competitiveness in the market.
Saudi Arabia Electric Motor Market has accomplished significant developments, reflecting the nation’s commitment to sustainable energy solutions. The rising implementation of energy-efficient motors which support in saving electricity as well as reduce carbon emission is the major development of the market. The country has been investing in renewable energy, especially solar power and this trend also drives the demand for these motors that are used in solar panels as well as other renewable energy systems. Rise of advanced electric motor technologies which incorporate smart sensors and control systems in order to optimize performance and minimize downtime is another significant market development.
Saudi Arabia Electric Motor Market report thoroughly covers the market by types, power output, voltage, applications, and end-user. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Electric Motor Market is projected to grow over the coming year. Saudi Arabia Electric Motor Market report is a part of our periodical regional publication Middle East Electric Motor Market Outlook report. 6W tracks electric motor market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Electric Motor Market outlook report annually.
Saudi Arabia Electric Motor Market is projected to grow over the coming year owing to the growing implementations and sales of electric vehicles, and reduced operation costs as well as the growing demand for the products that are energy-efficient.
According to 6wresearch, the Saudi Arabia Electric Motor Market size is expected to grow during 2020-2026. The market is driven by the growing automotive industry and developing infrastructure coupled with increasing investment in the industrial sector. Increasing demand for energy-efficient products, increasing adoption and sales of electric vehicles, and reduction in operating costs are the key factors boosting the growth of the electric motor market in Saudi Arabia. The government in the country is pushing towards renewable energy sources and sustainable development. The nation has set ambitious purposes in order to decrease its reliance on gas and oil, which leads to investments in wind farms, solar power plants, as well as other green technologies. The growth of automation in many sectors also contribute to the market growth. Automation needs efficient and reliable motors in order to run machinery with accuracy and precision. These drivers are leading to the Saudi Arabia Electric Motor Market Growth.
The pandemic has made it extremely difficult for the market to operate smoothly in the country since there was a strong decrease in demand for these electric motors during the pandemic. The outbreak of the coronavirus resulted in disruption of electric motors owing to the reduction in manufacturing output and industrial activities. A number of manufacturers confronted significant challenges and disruptions related to supply chain management, raw material procurement, and workforce availability during the peak. These factors definitely led to a rise in costs of production, which affected consumer prices. The market started to recover with gradual eased up over time and reopening of businesses.
Some significant players that have been stimulating the market growth are:
Based on power output, the fractional horsepower segment is expected to lead the electric motor market revenue share in Saudi Arabia owing to surging deployment of motors from industries coupled with increasing investment during the forecast period. Furthermore, in Saudi Arabia, the market is expected to register a decline in the economic growth over the first quarter of 2020, on account of the coronavirus pandemic which has a worse impact on worldwide business. However, the market in Saudi Arabia is expected to recover with healthy growth in the economy during the second half of 2020-2026.
According to Nikhil, Senior Research Manager, 6Wresearch, the power generation and industrial machinery segments are dominating the electric motor market revenue share in Saudi Arabia on account of surging power utility in the automotive industry, growing demand for energy-efficient systems in the manufacturing and construction industry.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Saudi Arabia Electric Motor Market Overview |
3.1 Saudi Arabia Electric Motor Market Revenues and Volume, 2016-2026F |
3.2 Saudi Arabia Electric Motor Market Revenue Share, By Voltage, 2019 & 2026F |
3.3 Saudi Arabia Electric Motor Market Revenue Share, By Power Output, 2019 & 2026F |
3.4 Saudi Arabia Electric Motor Market Revenue Share, By Types, 2019 & 2026F |
3.5 Saudi Arabia Electric Motor Market Revenue Share, By End-User, 2019 & 2026F |
3.6 Saudi Arabia Electric Motor Market Revenue Share, By Application, 2019 & 2026F |
3.7 Saudi Arabia Electric Motor Market - Industry Life Cycle |
3.8 Saudi Arabia Electric Motor Market - Porter’s Five Forces |
4. Saudi Arabia Electric Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Saudi Arabia Electric Motor Market Trends |
6. Saudi Arabia Electric Motor Market Overview, by Voltage |
6.1 Saudi Arabia Low Voltage Electric Motor Electric Motor Market Revenues and Volume, 2016-2026F |
6.2 Saudi Arabia Medium Voltage Electric Motor Electric Motor Market Revenues and Volume, 2016-2026F |
6.3 Saudi Arabia High Voltage Electric Motor Electric Motor Market Revenues and Volume, 2016-2026F |
7. Saudi Arabia Electric Motor Market Overview, by Power Output |
7.1 Saudi Arabia Electric Motor Market Revenue and Volumes, By Integral Horsepower, 2016-2026F |
7.2 Saudi Arabia Electric Motor Market Revenue and Volumes, By Fractional Horsepower, 2016-2026F |
8. Saudi Arabia Electric Motor Market Overview, by Types |
8.1 Saudi Arabia Electric Motor Market Revenue and Volumes, By AC Motor, 2016-2026F |
8.2 Saudi Arabia Electric Motor Market Revenue and Volumes, By DC Motor, 2016-2026F |
9. Saudi Arabia Electric Motor Market Overview, by End-User |
9.1 Saudi Arabia Electric Motor Market Revenue and Volumes, By Industrial Machinery, 2016-2026F |
9.2 Saudi Arabia Electric Motor Market Revenue and Volumes, By HVAC Equipment, 2016-2026F |
9.3 Saudi Arabia Electric Motor Market Revenue and Volumes, By Automobile, 2016-2026F |
9.4 Saudi Arabia Electric Motor Market Revenue and Volumes, By Consumer Applaince, 2016-2026F |
9.5 Saudi Arabia Electric Motor Market Revenue and Volumes, By Aerospace & Transportation, 2016-2026F |
9.6 Saudi Arabia Electric Motor Market Revenue and Volumes, By Power Generation, 2016-2026F |
9.7 Saudi Arabia Electric Motor Market Revenue and Volumes, By Other Commercial Application (Agriculture and Mining), 2016-2026F |
10. Saudi Arabia Electric Motor Market Overview, by Application |
10.1 Saudi Arabia Electric Motor Market Revenue and Volumes, By Pumps, 2016-2026F |
10.2 Saudi Arabia Electric Motor Market Revenue and Volumes, By Fans, 2016-2026F |
10.3 Saudi Arabia Electric Motor Market Revenue and Volumes, By Compressors, 2016-2026F |
10.4 Saudi Arabia Electric Motor Market Revenue and Volumes, By Conveyors, 2016-2026F |
10.5 Saudi Arabia Electric Motor Market Revenue and Volumes, By Others (Centrifuges, Extruders and Winches), 2016-2026F |
11. Saudi Arabia Electric Motor Market Key Performance Indicators |
12. Saudi Arabia Electric Motor Market Opportunity Assessment |
12.1 Saudi Arabia Electric Motor Market Opportunity Assessment, By Voltage, 2026F |
12.2 Saudi Arabia Electric Motor Market Opportunity Assessment, By Power Output, 2026F |
12.3 Saudi Arabia Electric Motor Market Opportunity Assessment, By Types, 2026F |
12.4 Saudi Arabia Electric Motor Market Opportunity Assessment, By End-User, 2026F |
12.5 Saudi Arabia Electric Motor Market Opportunity Assessment, By Application, 2026F |
13. Saudi Arabia Electric Motor Market Competitive Landscape |
13.1 Saudi Arabia Electric Motor Market By Companies, 2019 |
13.2 Saudi Arabia Electric Motor Market Competitive Benchmarking, By Operating Parameters |
14. Company Profiles |
15. Key Strategic Recommendations |
16. Disclaimer |