Saudi Arabia Power and Distribution Transformer Market Size to Reach USD 2.34 Billion by 2030

Published | 11 July 2024

Saudi Arabia Power and Distribution Transformer Market is flourishing because of an increasing demand for power, economic diversification, and infrastructural development.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Power and Distribution Transformer Market size at USD 1.38 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Power and Distribution Transformer Market size to expand at a CAGR of 6.43% reaching a value of USD 2.34 billion by 2030. Rapid urbanization and industrialization as a result of economic diversification and increasing investments in the expansion of non-oil-based industries like mining, manufacturing, and petrochemicals are major growth factors for the Saudi Arabia Power & Distribution Transformer Market. The demand for new power production infrastructure is also being driven by increased investment in the renewable energy sector, which is expected to propel Saudi Arabia power and distribution transformer market over the projected period.

Opportunity - Growing renewable energy sector

The growing transition and investments in the renewable energy sector in the Kingdom are anticipated to provide lucrative growth opportunities to Saudi Arabia Power & Distribution Transformer Market. As the Kingdom is moving forward with its economic diversification, it launches various renewable energy projects, aimed at achieving a capacity of 20 gigawatts by 2030 and boosting the installation of renewable energy infrastructure. It is anticipated that the growing use of renewable energy would immediately increase the need for power and distribution transformers in order to effectively transfer and distribute the electricity produced by these renewable energy sources.

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Liquid Type Cooling System Held Larger Market Share

Based on cooling system, Saudi Arabia Power and Distribution Transformer Market is segmented into dry type and liquid type. The liquid type segment holds a larger share in Saudi Arabia Power & Distribution Transformer Market. They provide effective heat dissipation, guaranteeing peak performance in the hot and frequently humid atmosphere of the Kingdom. Liquid insulation solutions also provide improved dielectric qualities, which raise dependability and safety. These transformers are ideal for high capacity uses, which are essential given rising energy needs. They are also a chosen option because of its sturdy design and extended service life, which fits with the requirement for long-lasting and sustainable power infrastructure.

Competitive Landscape

Saudi Arabia Power and Distribution Transformer market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Siemens AG, ABB Ltd, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric, The Saudi Transformers Company Ltd, United Transformers Electric Company, Toshiba Corporation, Electric Industries Company, and Hitachi Group.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Saudi Arabia Power and Distribution Transformer Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Saudi Arabia Power and Distribution Transformer Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Power and Distribution Transformer Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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