Saudi Arabia Electrical Materials Market to be Led by Commercial End Users
The Saudi Arabia electrical materials market is likely
to gain from rapid urbanization and increasing awareness regarding energy
efficiency during the forecast period.
According to TechSci Research
report, “Saudi Arabia Electrical Materials Market – By Region, Competition Forecast &
Opportunities, 2028”, the Saudi Arabia electrical materials market is
anticipated to register robust growth during the forecast period, owing
to technological advancements in electrical materials. The emerging trend of
electric vehicles is also expected to aid this market over the next few years.
The growth of the Saudi Arabia electrical materials market is further driven by
the expansion of the commercial, industrial, residential, and nonresidential
sectors in the country.
Furthermore, the
increase in consumption of electrical materials in applications, such as
building and construction, power transmission and power distribution, and
mining boosts the growth of the Saudi Arabia electrical materials market. The
country benefits largely from established power distribution channels.
Apart from increasing
use in the construction sector, electrical materials are witnessing increasing
used in various industries such as power plants, refinery cement industry,
steel, and mining, among others. The Saudi Arabia government seems to be making
rapid progress in boosting the country’s industrial sector. Over the next 10-15
years, industrialization in Saudi Arabia is likely to continue its momentum,
creating significant opportunities for electrical materials in the industrial
sector.
In addition, the demand
for electrical materials in Saudi Arabia has decreased as a result of the
pandemic, notably in the commercial and industrial sectors. Many businesses
have either temporarily closed or reduced their operations due to the lockdowns
and limitations on the flow of persons and products. As a result, the demand
for electrical materials has decreased as firms are not investing in new
projects or upgrading their infrastructure. Moreover, due to the COVID-19
pandemic, there has been a reverse migration, with employees fleeing cities for
rural areas. Many employees were stranded in city relief camps and labor
colonies. Contractors or developers are required to establish an incentive for
laborers to return to project locations.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Saudi Arabia Electrical Materials Market.”
Saudi
Arabia electrical materials market is analyzed based on type, end user, and
region. Based on type, the market is segmented into circuit breakers, light
switches, plugs and sockets, voltage switchers, cable management, cable duct,
electrical conduit, and others. Based on end user, the market is segmented into
industrial, commercial, and residential. Based on region, the market is
segmented into northern and central, eastern, western, and southern.
Based
on type, the cable management segment is dominating in the Saudi Arabia
electrical materials market because cable management is the essential component
of an electrical system. Cable management refers to the organization and
routing of electrical cables and wires to ensure they are safely and
efficiently installed, while circuit breakers are devices that protect electrical
systems from damage by automatically shutting off the power when a fault
occurs. In Saudi Arabia, the growing popularity of smart homes, commercial
buildings, and industrial automation has created a massive demand for cable
management systems. This sector is projected to be dominated by cable
management due to a variety of causes, such as producing high-quality items,
having a solid reputation for dependability, giving excellent customer service,
or charging fair prices.
Based
on end users, the commercial segment is dominating in the Saudi Arabia
electrical materials market. This segment consists of service-providing
facilities and equipment for businesses, including warehousing, storage, retail
and wholesale, transportation, hospitals, and other facilities. With the
ongoing office construction projects and the rising demand for electricity in commercial
infrastructures in various industries, the commercial segment has emerged as
the market leader. Furthermore, the rising prevalence of electric vehicles, demand
for energy efficiency, preference for led lighting, and the rise of public
transportation is expected to dominate the market throughout the forecast
period.
Major
market players operating in the Saudi Arabia Electrical Materials Market are:
- Alfanar
Electrical Systems LLC
- ABB
Electrical Industries Co. Ltd.
- Siemens
Saudi Arabia
- Schneider
Electric Saudi Arabia
- Bahra
Electric
- Legrand
Saudi Arabia
- Al-Abdulkarim
Holding (AKH) Co.
- Madar
Electricals Materials Co.
- Honeywell
Turki Arabia Ltd.
- Mitsubishi
Electric Saudi Ltd.
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“The rapid pace of
innovations in electronics and technology is stimulating consistent demand for
newer and faster electronic materials. Technological developments are key for
attracting both consumers and business users to either replace or upgrade older
products with their advanced versions. Digital technologies, such as the Internet
of Things (IoT), and the latest communication technologies, such as 5G, are
expected to aid the development of innovative electrical materials products.
This is expected to increase the demand for electronic materials, ultimately
driving the growth of the electrical materials market in Saudi Arabia during
the forecast period,” said Mr. Karan Chechi, Research Director at TechSci
Research, a research-based global management consulting firm.
“Saudi
Arabia Electrical Materials Market By Type (Circuit
Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable
Management, Cable Duct, Electrical Conduit, Others), By End User (Industrial,
Commercial, Residential), By Region,
Competition Forecast & Opportunities, 2028”, has evaluated the future
growth potential of Saudi Arabia Electrical Materials 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 Electrical Materials Market.
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