Saudi Arabia Electric Motor Market

Saudi Arabia Electric Motor Market Overview:

The Saudi Arabia electric motor market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. An electric motor is an electro-mechanical device that converts electrical energy into mechanical energy using electromagnetic phenomena. It creates mechanical torque by the interaction of conductors, which carry current to the magnetic field. An electric motor is efficient, consumes less energy, and has a long operating life and improved endurance for fluctuating voltages, consequently integrated into disk drives, fans, compressors, and electric cars. In recent years, electric motors have gained traction in Saudi Arabia as it is employed in the manufacturing, real estate, residential, and commercial sectors, along with the upcoming construction projects undertaken by the governing authorities of the country.

One of the primary factors driving the market is the expanding income levels of individuals, along with rapid urbanization. Additionally, the rising utilization of electrical appliances, such as washing machines, microwaves, coffee grinders, dishwashers, and electric can openers, is creating a positive market outlook. Other than this, the weather conditions across the region are leading to the widespread adoption of the air conditioning systems that use electric motors to function. This is positively influencing the market growth. Besides this, the rising trend of replacing gas turbines with electric motors in large industrial plants is propelling the market growth. In line with this, electric motors are extensively used in OEM-based products, conveyor systems, pumps, compressors, fans, and industrial machines. Furthermore, the growing demand for superior machine control in the automotive industry, on account of the high efficiency of AC synchronous motors is propelling the market growth. Apart from this, several regulations, such as Minimum Energy Performance Standards (MEPS), have led to the introduction of new energy-efficient motors to achieve maximum output. The material handling systems act as the key consumers of fractional horsepower (FHP) motors, boosting their demand globally. Moreover, the government of Saudi Arabia is focusing on the introduction of numerous policies that support new industries. Other major growth-inducing factors include extensive investments in construction activities and infrastructural development, and rising production and adoption of electric vehicles.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the Saudi Arabia electric motor market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. 

The report analyses the competitive structure of the Saudi Arabia electric motor market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the Saudi Arabia electric motor market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the Saudi Arabia electric motor market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the Saudi Arabia electric motor market industry. Furthermore, the value chain analysis of the Saudi Arabia electric motor market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

Saudi Arabia Electric Motor Market Segment Insights:

The Saudi Arabia electric motor market has been analysed as followed:

By Efficiency:

• Standard Efficiency Electric Motors
• High-Efficiency Electric Motors 
• Premium Efficiency Electric Motors
• Super Premium Efficiency Electric Motors

By Application:

• Heating, Ventilation and Air Conditioning (HVAC)
• Oil and Gas
• Food, Beverage and Tobacco
• Mining
• Water and Utilities
• Others

By End Use:

• Pumps and Fans
• Compressors
• Other Uses

By Region:

• Eastern 
• Central
• Northern
• Northwest
• Midwest
• Southwest

Competative Landscape: 

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of the leading players operating in the market are:

• ABB
• Siemens
• WEG Industries
• NIDEC Corporation
• TECO Middle East Electrical & Machinery Co. Ltd.

Highlights of the Saudi Arabia Electric Motor Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The Saudi Arabia electric motor market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs