Saudi Arabia Electric Motors Market is expected to grow owing to government-driven programs to diversify the economy away from oil dependence and promote local manufacturing throughout the forecast period.
According to TechSci Research report, “Saudi Arabia Electric MotorsMarket – By Region, Competition, Forecast and Opportunities, 2018-2028”, the Saudi Arabia Electric Motors Market is expected to register robust growth during the forecast period. Saudi Arabia has been focusing on energy efficiency and conservation. The government has implemented regulations and standards to improve the efficiency of various industries, which includes the use of energy-efficient electric motors. This has driven the demand for more efficient electric motor solutions.
Saudi Arabia has made significant investments in renewable energy sources, such as solar and wind power. Electric motors are essential components in various renewable energy applications, including wind turbine generators and solar tracking systems. The ongoing transition to cleaner energy sources offers a substantial opportunity for electric motor manufacturers and suppliers to cater to the growing demand for these applications.
Based on motor type, the DC Motor segment is expected to dominate the market during the forecast period. The automotive industry uses DC motors in various applications, including electric windows, sunroofs, and windshield wiper systems. Saudi Arabia has been making efforts to encourage automotive manufacturing within the country. The aftermarket segment for DC motors involves providing replacement parts and maintenance services.
As industrial equipment ages, there is a growing demand for replacement DC motors and servicing. DC motors are employed in heating, ventilation, and air conditioning (HVAC) systems to enhance energy efficiency. As energy efficiency gains importance in Saudi Arabia, the use of DC motors in HVAC systems is likely to grow. In agriculture, DC motors are used in irrigation systems and other equipment. Given the country’s arid climate and agricultural goals, there is a consistent demand for these motors.
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As part of the country’s focus on energy efficiency and sustainability, DC motors may see increased adoption in various sectors, as they are known for their efficiency and precise control capabilities. It’s important to consider that the Saudi Arabia Electric Motors Market is subject to broader economic and industrial trends, including the country’s Vision 2030 plan, which aims to diversify the economy, reduce oil dependency, and promote sustainability. Market trends in the DC motor segment are likely to align with the goals and initiatives outlined in Vision 2030.
Based on application, the Industrial segment is projected to dominate the market throughout the forecast period. Saudi Arabia has been exploring renewable energy sources, such as solar and wind power. Electric motors are used in renewable energy systems for tracking solar panels and controlling wind turbines. The mining and minerals industry in Saudi Arabia utilizes electric motors for crushers, conveyors, and other equipment used in the extraction and processing of minerals.
Electric motors are used in agriculture for irrigation systems and equipment. Saudi Arabia’s agricultural sector relies on these motors to optimize water usage in arid conditions. The demand for electric motors in heating, ventilation, and air conditioning (HVAC) systems and building automation systems is on the rise, as the country focuses on energy efficiency and smart building solutions.
As industrial equipment ages or faces wear and tear, the demand for replacement electric motors and maintenance services grows. The aftermarket segment is an essential part of the electric motors market in Saudi Arabia. It’s essential to consider that Saudi Arabia’s Vision 2030, which aims to diversify the economy, reduce oil dependency, and promote sustainability, can significantly impact the electric motors market. Market trends are likely to align with the goals and initiatives outlined in Vision 2030.
Key market players in the Saudi Arabia Electric Motors Market are:
- ABB Saudi Arabia
- Siemens Saudi Arabia
- WEG Electric Saudi Arabia
- Schneider Electric Saudi Arabia
- Nidec Corporation
- VEM Group
- Gulf Dynamic Electric Company (GDEC)
- Emerson Electric Saudi Arabia
- Zamil Electric
- Crompton Greaves (CG)
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“The Saudi Arabia Electric Motors Market in Riyadh is poised to be the dominant force in the industry. Riyadh benefits from national-level government initiatives that promote the use of electric motors for sustainable development. The Saudi Vision 2030 plan, which seeks to diversify the economy and reduce the country’s reliance on oil, has specific goals related to energy efficiency and the use of renewable energy sources. These initiatives create a conducive environment for the growth of the electric motors market in Riyadh.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Electric Motors Market Segmented By Motor Type (AC Motor and DC Motor), By Output Power (Integral Horsepower and Output & Fractional Horsepower), By Application (Industrial, HVAC, Medical Equipment, Industrial Machinery, Home Appliances and Others), By Voltage Rating (Low Voltage (Up to 690V), Medium Voltage (691V – 3300V) and High Voltage (Above 3300V)), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Saudi Arabia Electric Motors Marketand 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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