Saudi Arabia Electric Motors Market Grows With Higher Energy Consumptions
Saudi
Arabia Electric Motors Market is anticipated to grow with increasing use of electric
appliances.
According to TechSci report on, “Saudi Arabia Electric Motors Market - By Region, Competition Forecast &
Opportunities, 2027” Saudi
Arabia Electric motors market may flourish with an impressive CAGR during the
forecast period of 2023-2027, on the backbone of rapidly increasing usage of electronic
machines and power generating equipment. Expanding automotive industry and
growing manufacturing of the automobiles due to higher sales of the automotives
also actively drive the growth of the Saudi Arabia electric motors market in
the upcoming five years. Increasing industrialization, growing infrastructural
growth, expanding end use industries like construction industry, also
facilitate the growth of the Saudi Arabia electric motors market in the next
five years. Growing demands for power generation and increasing energy
consumption for various purposes residential, and industrial demands are
cumulatively increasing and thus aiding the growth of the Saudi Arabia electric
motors market in the future five years.
Some
general factors responsible for the growth of the Saudi Arabia electric motors
market in the forecast years may include growing number of power plants and oil
rigs in the country, coupled with rapid commercialization and urbanization of
the urban as well as rural areas of the country. Technological advancement,
growing investments in the sector, manufacturing of the electric motors as well
as demands to advance the products and services further substantiates the
growth of the Saudi Arabia electric motors market in the forecast years through
2027. Furthermore, rapidly growing demands for the heating, ventilation, and
air conditioning (HVAC) systems from residential, commercial, industrial end
using sectors is also anticipated to further facilitate the growth of the Saudi
Arabia electric motors market in the forecast period.
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The
Saudi Arabia electric motors market is segmented by type, voltage, end user,
rotor type, output power, competitional landscape, and regional distribution.
Based on type, the market is differentiated between AC and DC. Alternating
Current (AC) electric motors are anticipated to hold the largest revenue shares
of the market and dominate the market segment in the upcoming five years on
grounds of increasing demands for the same for multiple applications. Increasing
sales of the appliances & equipment like pumps, compressor, fans, etc.
further adds up to the growing demand for the AC electric motors thus
supporting the growth of the Saudi Arabia electric motors market in the next
five years. By voltage, the market is further segmented into up to 1 kV, 1kV-6.6
kV, and above 6.6kV.
Based
on end user, the market is fragmented into industrial, commercial, residential,
transportation, and agriculture. Industrial end users are expected to dominate
the growth of the market and may hold the largest revenue shares of the market
in the upcoming five years due to growing expansions in the country. Increasing
industrialization, developing advancement of the products, and modernization
coupled with the urbanizations, further supports the growth of the Saudi Arabia
electric motors market in the future five years. By rotor type, the market is
divided between inner and outer rotor. Based on output power, the market is
also bifurcated into integral horsepower and fractional horsepower.
A
partial list of major market players of the Saudi Arabia electric motors market
includes
·
ABB Limited
·
ARC Systems Inc.
·
Denso Corporation
·
Emerson Electric Co.
·
Johnson Electric Holdings Limited
·
Maxon
·
Nidec Corporation
·
Regal Rexnord Corporation
·
Rockwell Automation, Inc.
·
Siemens AG
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“Saudi Vision 2030 is government aided scheme that facilitates the
growth of the end use sectors in the country. With consistent investments,
growing demands for the technologically advanced products and higher industrialization
further support the market growth by driving the growing demands for the
electric motors. Lavish lifestyles of the population, and rapidly growing
immigrant population with high disposable income also influence the market
growth positively. New market players are required to focus over research and
invest in the sector to produce technologically advanced electric motors to
support their brand establishment in the competitive market. The industry
already has global giants leading the market in the country, thus
collaborations with them would be a better strategy for the future years,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Saudi
Arabia Electric Motors Market By Type (AC, DC), By Voltage (up to 1 kV, 1kV-6.6
kV, above 6.6kV), By End User (Industrial, Commercial, Residential,
Transportation, and Agriculture), By Rotor Type (Inner, Outer), By Output Power
(Integral Horsepower, Fractional Horsepower), By Region, Competition Forecast
& Opportunities, 2027” has
evaluated the future growth potential of Saudi Arabia Electric motors market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Saudi Arabia Electric motors market.
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