Posted On: 2017-11-21
During 2014-16, Saudi Arabia UPS market recorded sluggish demand on account of financial crises prevailing in the country due to low oil prices. This resulted in halt and delays in several projects across the country. However, in segments such as data centers and SMEs witnessed demand in the same period.
According to 6Wresearch, Saudi Arabia UPS market revenue is projected to grow at a CAGR of 4.0% during 2017-23. Emerging IT/ITeS market, rising SME sector, growing data center spending as well as booming tourism, leisure & hospitality sectors are some of the key factors anticipated to drive the growth of UPS market in Saudi Arabia over the coming years. With spending on data centers to grow around 10% by 2019, expansion of data centers seems promising in near future. Additionally, IT spending in Saudi Arabia is expected to cross the mark of $7 billion in 2017. Furthermore, 7,000 new economy hotel rooms are likely to develop by 2021, with new brands harnessing the potential of Saudi Arabia’s growing tourism and hospital sector in the wake of vision 2030.
According to Rishi Malhotra, Senior Research Analyst, 6Wresearch, "In Saudi Arabia UPS market, small rating (less than 5KVA) and (5.1KVA-20KVA) UPS captured significant revenue share of the market pie. Increasing acceptance amongst small and medium enterprises is one of the prime factors, which is driving the market for small rating UPS in the country."
"Over the next six years, small rating UPS market is expected to maintain its leadership as office space is likely to pick momentum especially in Riyadh as the Kingdom is looking forward to diversify its economy. For instance, The King Abdullah Financial District would be one of the key factors for the development of the Riyadh Commercial Market," Rishi further added.
According to Sachin Agarwal, Research Associate, Research and Consulting, 6Wresearch, "Amongst all applications, the commercial segment contributed significant market demand for UPS in the country, wherein commercial offices generated majority of the revenue share and would continue to post substantial growth over the coming years."
"Additionally, in Saudi Arabia, Central and Western region held significant revenue share for UPS market in the country, owing to greater number of commercial offices, hotels, and universities in these regions." Sachin further added.
Some of the major companies in Saudi Arabia industrial pumps market include - ABB Ltd, Arabian Power Electronics Company, Eaton Corporation Plc., Schneider Electric SE, Socomec Middle East and Vertiv Co.
"Saudi Arabia UPS Market (2017-2023)" provides in-depth analysis with 50 figures and 4 tables covered in more than 100 pages. The report estimates and forecast the overall Saudi Arabia UPS market by revenues, volume, rating, regions and applications such as commercial, industrial and residential. The report also offer insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.