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

Topics Covered in the Saudi Arabia Transformer Market Report

Saudi Arabia Transformer Market report thoroughly covers the market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the ongoing 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 Transformer Market Synopsis

Saudi Arabia Transformer Market is anticipated to gain momentum during the upcoming period owing to growing demand for power due to the surging population. Increasing innovation of technology backed by the adoption of the smart grid is driving the Saudi Arabia Transformer Market Growth. Additionally, growing government initiatives to develop the renewable power supply coupled with the adoption of electric vehicles is propelling the development of the market

According to 6Wresearch, Saudi Arabia Transformer Market size is projected to register a growth rate (CAGR) of 5.8% during 2024-2030. Several factors have driven the growth of the transformer market in Saudi Arabia. One of them is the high electricity demand, which is a direct result of the country’s growing population and rising infrastructure development. In 2020, a new record was set as the Kingdom reported the highest-ever peak power demand of 62,310 MW. Additionally, the country is investing heavily in renewable energy sources like solar and wind power, which is driving the demand for transformers. Notably, the Saudi government has set a target of generating up to 60 GW of renewable energy capacity by 2030.

Despite the visible growth in the Saudi transformer market, some factors pose challenges to its development. The primary challenge is the volatile oil and gas market, which is responsible for driving the country’s economy. Any fluctuations in the oil market, therefore, affect the transformer market since the demand for transformers largely depends on the oil and gas industry. Secondly, a shortage of skilled labor in the electrical sector is impeding the efficient installation, maintenance, and repair of transformers. Lastly, the COVID-19 pandemic has disrupted the supply chain, causing a shortage of raw materials.

Transformer Market in Saudi Arabia: Leading Companies

The transformer market in Saudi Arabia is highly competitive, with various local and international players offering their products and services. Some of the key players in the market include Saudi Transformers Company, ABB Group, Siemens AG, General Electric Company, and Schneider Electric SE. These companies are not only involved in manufacturing transformers but also offer after-sales services such as maintenance and repair to ensure customer satisfaction.

Saudi Arabia Transformer Industry: Government Regulations

The Saudi government places high importance on the electrical sector to support the country's economic growth. Therefore, several regulations have been put in place to govern the transformer market. For example, the Saudi Electricity and Cogeneration Regulatory Authority (ECRA) is responsible for the licensing and regulation of all electrical activities in the country. Additionally, the Saudi Energy Efficiency Center (SEEC) is responsible for enforcing energy efficiency regulations, which include standards for transformer ratings. Lastly, Saudi Arabia's economic and industrial diversification plans, such as Saudi Vision 2030 and the National Transformation Program, aim to upgrade the electrical industry by attracting foreign investors to support manufacturing growth.

Market Segmentation by Product

According to Nikhil, Senior Research Analyst, at 6Wresearch, the distribution transformer segment is expected to register a substantial share owing to rising industrialization and the development of a smart grid.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years 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 Transformer Market Outlook
• Market Size of Saudi Arabia Transformer Market, 2023
• Forecast of Saudi Arabia Transformer Market, 2030
• Historical Data and Forecast of Saudi Arabia Transformer Revenues & Volume for the Period 2020 - 2030
• Saudi Arabia Transformer Market Trend Evolution
• Saudi Arabia Transformer Market Drivers and Challenges
• Saudi Arabia Transformer Price Trends
• Saudi Arabia Transformer Porter's Five Forces
• Saudi Arabia Transformer Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Saudi Arabia Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
• Saudi Arabia Transformer Import Export Trade Statistics
• Market Opportunity Assessment By Core
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Winding
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Cooling
• Market Opportunity Assessment By Insulation
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Rating
• Saudi Arabia Transformer Top Companies Market Share
• Saudi Arabia Transformer Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Transformer Company Profiles
• Saudi Arabia Transformer Key Strategic Recommendations

Market Scope and Segmentation

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

By Core

• Closed
• Shell
• Berry

By Product

• Power Transformer
• Distribution Transformer
• Instrument Transformer
• Others

By Winding

• Two-Winding
• Auto-Transformer

By Application

• Residential & Commercial
• Utility
• Industrial

By Cooling

• Dry-Type
• Oil Immersed

By Phase

• Single Phase
• 3 – Phase

By Rating

• 10 MVA
• 11 MVA To 60 MVA
• 61 MVA To 600 MVA
• > 600 MVA

Frequently Asked Questions About the Market Study (FAQs):