Posted On: 2019-11-19
Automotive end-user dominates the electric motor market in Middle East – 6Wresearch
Construction of commercial sector infrastructure such as Burj Mubarak Al Kabir in Kuwait, Lusail City in Qatar, Mohammed bin Rashid City in UAE would increase the prospects of installing air conditioners, fan, pumps which would further need the installation of electric motors for their functioning leading to an increase in demand for electric motors in the region. Further, visions such as Saudi Vision 2030, UAE Vision 2021, Abu Dhabi Economic Vision 2030, Dubai Industrial Strategy 2030 & Qatar National Vision 2030 along with FIFA World Cup 2020 in Qatar would generate prospects for the construction of power generation utilities, non-oil industries, automotive manufacturing industries, retail complexes, hotels and commercial buildings which would in turn act as a catalyst for increasing demand for electric motors in the region.
According to 6Wresearch, Middle East Electric Motor Market size is projected to grow at a CAGR of 3.0% during 2019-25. Construction of educational facilities in Qatar, upcoming healthcare projects in various countries of Middle East region and rising number of residential buildings under construction and planning phase would create opportunities for installation of applications such as pumps, fans and air conditioner during the forecast period in Middle East region which would further lead to an increase in demand for electric motors.
According to Sarthak Bansal, Research Associate, Research and Consulting, 6Wresearch, “Amongst end-users, automotiveaptured the highest revenue share in the overall Middle East electric motor market. Countries such as Saudi-Arabia and UAE are the biggest markets of automobiles in the Middle East region. Seeing this opportunity, many automobile manufacturing plants would be set-up in the countries to increase the domestic production of automobiles. Besides, construction of Hamad International Airport and Hamad International Airport (Expansion of main terminal extension in Qatar), Kuwait International Airport Expansion and Mubarak Al Kabeer Seaport - 3B and 3C in Kuwait would lead to an increase in installation of various products which have electric motors leading to high demand for electric motors in the Middle East region over the coming years.”
Some of the major companies in the Middle East elect motor market include ABB, Siemens, TECO Middle East and Rockwell Automation.
"Middle East Electric Motor Market (2019-2025)" report provides an in-depth analysis with 36 figures and 10 tables covered in over 150 pages. The report estimates and forecast the overall Middle East electric motor market by voltage, types, applications, end-users and countries. The report provides an unbiased and detailed analysis of the on-going 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.