Saudi Electric Motors Market to Grow at CAGR 8%
Surging demand from end user industries such as
manufacturing, commercial and residential segments to propel Saudi Arabia
electric motors market through 2021
According to
TechSci Research report “Saudi Arabia Electric Motors Market By Type, By End User,
By Application, By Rating, Competition Forecast & Opportunities, 2011 – 2021”, the electric motors market in Saudi Arabia is projected
to grow at a CAGR of 8% during 2016 - 2021, on account of increasing
industrialization, booming infrastructural growth, increasing power generation
and rising energy requirements in the country. Growth in number of power plants and oil
rigs, coupled with rapid commercialization and urbanization are also boosting demand
for electric motors in the Kingdom. Residential, manufacturing, commercial and real
estate sectors are the major end users for electric motors industry in Saudi
Arabia.
Saudi Arabia
electric motors market is dominated by AC based electric motors as these are widely
used in various applications such as pumps, compressors, fans, etc. Few of the leading companies operating in
Saudi Arabia electric motors market include ABB (including Baldor), Siemens,
TECO Middle East, WEG, and Crompton Greaves, among others. Electric motor
refurbishment / repair services market is also witnessing growth as electric
motors are being extensively employed for various applications in diverse sectors
such as oil & gas, petrochemical & refining, commercial and power
plants. Leading refurbishment / repair service companies operating in the Kingdom
include Alfanar Electrical Systems LLC, Saudi French Company and Ashoor
Electric Motors Factory.
“Saudi Arabia electric motors market is forecast
to grow in the coming years due to increasing demand from end user segments, rising
demand for energy efficient electric motors to reduce carbon emissions, coupled
with rapid industrialization in the country. Increasing power consumption, rising
number of power plants and growing utilization of electric motors in various
applications is anticipated to boost demand for electric motors in the country
through 2021.”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Electric Motors Market in Saudi Arabia By Type, By End User, By Application, By Rating,
Competition Forecast & Opportunities, 2011 – 2021” has
evaluated the future growth potential of electric motor market across Saudi
Arabia and provide statistics and information on market structure, size and
trends. The report includes market projections and demand forecasting. 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 electric motors market.