Product Code: ETC005339 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Saudi Arabia Power Convertor market is expected to witness a CAGR of 8.7% during the forecast period (2020-2026). The increasing demand for renewable energy sources and the rapid industrialization in the region are some of the major drivers fueling market growth. Moreover, government initiatives such as Vision 2030 have also contributed significantly to market growth in recent years. Additionally, technological advancements like power convertors with automated switching systems, sensitive element modules, and high frequency function modules are further driving demand from various end-user industries.
Increasing Demand for Renewable Energy Sources, as a result of rising environmental concerns coupled with stringent regulations on greenhouse gas emissions, there has been an increased focus across countries toward augmenting their renewable energy capacities through solar & wind farms. This factor is anticipated to bolster demand for power convertors over the forecast period. With several programs undertaken by governments across GCC countries focusing on diversification away from hydrocarbon resources towards industrial development, there will be an increase in investments towards construction activities over the coming years that would lead to higher demand for power convertors owing to their usage in controlling and regulating electric currents within systems used across different industrial applications ranging from automotive plants to oil & gas refineries etc.
High Initial Costs Involved In Installation Of Advanced Power Convertors Systems And Solutions: One of the key factors hampering adoption of advanced power conversion solutions among residential consumers is likely to be its high initial cost involved especially when compared against traditional methodologies involving voltage regulators or transformers which may not involve any additional costs associated with installation or usage apart from those related directly electricity consumption itself.
The regional market witnessed significant impact owing pandemic induced lockdowns imposed by respective governments leading disruption supply chains affecting availability components and raw materials used manufacturing process . Also , certain projects were put hold until situation normalizes fully.
Major players operating in Saudi Arabia Power Convertor Market include General Electric Company , Siemens AG , ABB Ltd., Schneider Electric SE , Rockwell Automation Inc., Emerson Electric.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Saudi Arabia Power Convertor Market Overview |
3.1 Saudi Arabia Country Macro Economic Indicators |
3.2 Saudi Arabia Power Convertor Market Revenues & Volume, 2020 & 2030F |
3.3 Saudi Arabia Power Convertor Market - Industry Life Cycle |
3.4 Saudi Arabia Power Convertor Market - Porter's Five Forces |
3.5 Saudi Arabia Power Convertor Market Revenues & Volume Share, By Product Types, 2020 & 2030F |
3.6 Saudi Arabia Power Convertor Market Revenues & Volume Share, By Applications, 2020 & 2030F |
4 Saudi Arabia Power Convertor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Saudi Arabia Power Convertor Market Trends |
6 Saudi Arabia Power Convertor Market, By Types |
6.1 Saudi Arabia Power Convertor Market, By Product Types |
6.1.1 Overview and Analysis |
6.1.2 Saudi Arabia Power Convertor Market Revenues & Volume, By Product Types, 2020-2030F |
6.1.3 Saudi Arabia Power Convertor Market Revenues & Volume, By Low Voltage Power Converter, 2020-2030F |
6.1.4 Saudi Arabia Power Convertor Market Revenues & Volume, By High Voltage Power Converter, 2020-2030F |
6.2 Saudi Arabia Power Convertor Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Saudi Arabia Power Convertor Market Revenues & Volume, By Electronics, 2020-2030F |
6.2.3 Saudi Arabia Power Convertor Market Revenues & Volume, By Industrial, 2020-2030F |
6.2.4 Saudi Arabia Power Convertor Market Revenues & Volume, By Infrastructure & Transportation, 2020-2030F |
6.2.5 Saudi Arabia Power Convertor Market Revenues & Volume, By Power Utilities, 2020-2030F |
6.2.6 Saudi Arabia Power Convertor Market Revenues & Volume, By Others, 2020-2030F |
7 Saudi Arabia Power Convertor Market Import-Export Trade Statistics |
7.1 Saudi Arabia Power Convertor Market Export to Major Countries |
7.2 Saudi Arabia Power Convertor Market Imports from Major Countries |
8 Saudi Arabia Power Convertor Market Key Performance Indicators |
9 Saudi Arabia Power Convertor Market - Opportunity Assessment |
9.1 Saudi Arabia Power Convertor Market Opportunity Assessment, By Product Types, 2020 & 2030F |
9.2 Saudi Arabia Power Convertor Market Opportunity Assessment, By Applications, 2020 & 2030F |
10 Saudi Arabia Power Convertor Market - Competitive Landscape |
10.1 Saudi Arabia Power Convertor Market Revenue Share, By Companies, 2023 |
10.2 Saudi Arabia Power Convertor Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |