Saudi Arabia Valves Market to Cross SAR 18 Billion by 2021
Anticipated revival of oil prices,
increasing energy needs and growing necessity to develop water & wastewater
infrastructure to drive Saudi Arabia valves market through 2021
According to a recently published TechSci Research
report “Saudi
Arabia Valves Market, By Material Used, By
Application, Competition Forecast & Opportunities, 2011 – 2021”, the valves market in Saudi Arabia is anticipated to cross
SAR 18 billion ($5 Bn) by 2021. Rapid industrialization, favourable government
support in the form of beneficial FDI policies in oil & gas sector coupled
with advantageous incentives schemes are some of the major factors driving the
demand for valves in the country.
Robust water
& wastewater infrastructure play a critical role in economic growth of any
country. However, Saudi Arabia has been facing huge water crisis due to
depleting water resources. Water consumption has exceeded 8 million cubic
meters per day (m3/d), and is expected to reach 20 million m3/d
by 2020. With growing need to develop and expand water & waste water infrastructure,
the demand for valves in Saudi Arabia is expected to increase over the next
five years.
Browse 9 market
data Tables and 26 Figures spread through 110 Pages and an
in-depth TOC on "Saudi
Arabia Valves Market"
https://www.techsciresearch.com/report/saudi-arabia-valves-market-by-material-used-stainless-steel-copper-plastic-others-by-application-industrial-vs-civil-competition-forecast-opportunities/860.html
According
to the Saudi Arabia Statistical Country Profile 2015, which was issued by the
Federal Statistical Office of Germany (Destatis), the country’s electricity
consumption stood at 8,405 kwh per capita, which is one of the highest in the
world. Moreover, as per the Ministry of Water and Electricity, the total
electricity produced in the country was 215.67TWH in 2015, while total
electricity consumed stood at 286.1TWH in the same year. Widening demand-supply
electricity gap in the country is anticipated to aid Saudi Arabia valves market
during forecast period.
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“Oil &
Gas sector emanates the maximum demand for valves in Saudi Arabia on account of
easy availability of huge oil reserves and increasing oil & gas exploration
& production activities. With a daily crude oil production of 12,013
thousand barrels, Saudi Arabia is the largest crude oil producer in the Middle
East & Africa region. In addition, rapid growth in construction sector and
ongoing projects in power, refining and petrochemical sectors are also expected
to boost the demand for industrial valves in Saudi Arabia during 2016 – 2021.” Said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Valves Market, By Material Used, By Application,
Competition Forecast & Opportunities, 2011 – 2021” has evaluated the future growth potential of Saudi
Arabia valves market and provides statistics and information on market
structure, market size, market share, forecast and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyzes emerging trends along with essential drivers, challenges and
opportunities available in Saudi Arabia valves market.
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