Saudi Arabia Switchgear Market
Saudi Arabia Switchgear Market, By Type - By Type (Air Insulated Switchgear, Gas Insulated Switchgear); By Voltage (Low Voltage, Medium Voltage, High Voltage, Ultra-High Voltage); By Application (Transmission & Distribution, Manufacturing & Process Industries, Commercial, Residential, Others), Trend Analysis, Competitive Market Share & Forecast, 2018–2028
- Published Date: September 2022
- Report ID: BWC22360
- Available Format: PDF
- Page: 114
Report Overview
Rapidly growing petrochemical industry, development of non-oil industrial sector, expansion of infrastructure-related activities, and significant investments in the power transmission and distribution sectors would contribute to the growth of switchgear market in Saudi Arabia.
Saudi Arabia Switchgear Market- Industry Trends & Forecast Report 2028
Saudi Arabia Switchgear Market- Overview
Throughout the projected period, Saudi Arabia switchgear market is anticipated to expand steadily. The government's growing efforts in upgrading and modernizing the country's existing T&D infrastructure are driving the switchgear market in Saudi Arabia. Growing underground electric cable laying trends and the country's rising energy consumption are additional factors that are projected to drive the market throughout the forecast period. Additionally, the rising automation in the electricity sector is boosting the demand for switchgears. Moreover, the country's need for switchgear would increase as a result of improving economic conditions brought on by altered governmental policies, the creation of special economic zones, etc. Saudi Arabia currently controls the majority of the Middle East's switchgear market.
Saudi Arabia Switchgear Market - Industry Trends and Market Forecast
The majority of Saudi Arabia's switchgear market's income came from the power utilities industry. The Saudi Arabian government wants to increase the proportion of renewable energy sources in the country's overall energy mix, which would spur the creation of various power projects and meet the demand for growth in the relevant industry. However, it is anticipated that the commercial and industrial categories would witness significant market expansion over the coming years.
Growth Drivers
Focus on Modernizing electrification
The rising desire for electrification future switchgear replacement and growing demand for safe and dependable power distribution networks are some key supporting factors driving the market expansion. The market is expanding as a result of increasing awareness, declining competitiveness from competing for insulating technologies, and rising need for circuit protection devices.
Low-voltage switchgear is also favorably boosting the growth of the market. Incorporation of sustainable power sources into the electrical grid will necessitate enhancement of the intensity control system, which is counted upon to boost the demand for low voltage switchgear in Saudi Arabia. However, raw material availability and pricing restrictions may restrain the growth of the market during the forecast period. Due to the strengthening of the power grid and significant investment in transmission and distribution, the Saudi Arabia low voltage switchgear segment is anticipated to expand at a significant growth rate over the forecast period. There will be significant growth in the use of low voltage switchgear throughout utilities and commercial sectors, including new hotels, hospitals, museums, and public infrastructure. Additionally, as low-voltage switchgear is more widely used than conventional switchgear in the commercial and industrial divisions, there is a significant opportunity for market expansion.
Restraints
Harsh environmental conditions and expensive switchgear equipment
The efficiency of electric switchgear equipment that is typically installed outside can be negatively impacted by extreme weather conditions, which include temperature, pressure, and humidity as well as water leaking from the ground. Consequently, regulatory bodies developed strict standards and specifications to address the atmospheric conditions to achieve improved reliability and feasibility. The equipment is more expensive because it has more sophisticated functions and an IoT-based control system. It provides a comprehensive, pricey, and sophisticated solution. As a result, in the coming years, the market expansion may be hampered by the switchgear industry's large capital expenditure and harsh environment conditions.
Segmental Coverage
Saudi Arabia Switchgear Market - By Type
Saudi Arabia switchgear market can be divided into categories based on type, including air, gas, solid dielectric, and others. Since this switchgear is available for horizontal or vertical mounting and can be utilized in corrosive/wet environments at any altitude, the solid dielectric type is anticipated to see the largest growth in the market during the forecasted years. Furthermore, epoxy, an inert and environmentally acceptable insulation material, is used in this switchgear.
Saudi Arabia Switchgear Market - By Voltage
The market can be divided into three segments based on voltage: up to 15 kV, 15–25 kV, and 25–38 kV. Due to the growing infrastructure development and investments in the transmission and distribution network, the 25-38kV sector is anticipated to hold a sizeable market share during the projection period.
Saudi Arabia Switchgear Market - By Application
Water and electricity sectors are included in the utility application; this sector primarily uses medium and high voltage switchgear. For a wide range of functional units with excellent safety and dependability, industrial applications require an uninterrupted, non-fluctuating power supply. These cover a range of industries, such as steel, cement, and oil & gas. Commercial and residential construction projects including offices, apartment buildings, shopping centers, and hotels are examples of residential applications. These applications require constant service, small size, and minimal environmental impact.
Impact of Covid-19 on Saudi Arabia Switchgear Market
In addition to the supply chain interruptions for raw materials, they also experienced delivery issues for pre-produced switchgear as a result of impeded transportation and logistics, which ultimately resulted in considerable financial losses for them. The need for switchgear across commercial and industrial sectors significantly decreased as a majority of industries chose to allow employees to work from home. On the other hand, home power consumption rates rapidly increased, which led to a brief increase in the switchgear market growth. In turn, it created expansion chances for the industry's top companies to improve output and satisfy the exploding consumer demand, which gave the market as a whole a respectable boost during the crisis.
Competitive Landscape
ABB Ltd., Hyosung Corporation, Alstom SA, Hitachi Ltd., Siemens AG, CG Power & Industrial Ltd., General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, and Toshiba International Corporation are major participants in the Saudi Arabia switchgear market. To remain competitive in the market, corporations are creating cutting-edge technologies and introducing new services. Mergers and acquisitions as well as the introduction of new services are other competitive strategies.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2018–2021 |
Base Year – 2021 | |
Estimated Year – 2022 | |
Forecast – 2022–2028 | |
Facts Covered | Revenues in USD Million |
Market Coverage | Saudi Arabia |
Product Service/Segmentation | By Type, By Voltage, By Application |
Key Players | ABB Ltd., Hyosung Corporation, Alstom SA, Hitachi Ltd., Siemens AG, CG Power & Industrial Ltd., General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, and Toshiba International Corporation |
By Type
- Air Insulated Switchgear
- Gas Insulated Switchgear
By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- Ultra-High Voltage
By Application
- Transmission & Distribution
- Manufacturing & Process Industries
- Commercial
- Residential
- Others
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- Saudi Arabia Switchgear Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Advancement/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Switchgear Market Overview
- Market Size & Forecast by Value, 2018-2028
-
- By Value (USD Million)
-
- Market Share & Forecast
- By Type
- Air Insulated Switchgear
- Gas Insulated Switchgear
- By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- Ultra-High Voltage
- By Application
- Transmission & Distribution
- Manufacturing & Process Industries
- Commercial
- Residential
- Others
- By Type
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Mergers, Acquisitions, Partnerships)
- Impact of Covid-19 on Saudi Arabia Switchgear Industry
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- ABB Ltd.
- Hyosung Corporation
- Alstom SA
- Hitachi Ltd.
- Siemens AG
- CG Power & Industrial Ltd.
- General Electric
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Toshiba International Corporation
- Key Strategic Recommendations
List of figures
Figure 1 Saudi Arabia Switchgear Segmentation
Figure 2 Saudi Arabia Switchgear Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Saudi Arabia Switchgear Market Size, By Value (USD Million), 2018-2028
Figure 5 Saudi Arabia Switchgear Market Share, By Type, By Value, 2018-2028
Figure 6 Saudi Arabia Switchgear Market Share, By Voltage, By Value, 2018-2028
Figure 7 Saudi Arabia Switchgear Market Share, By Application, By Value, 2018-2028
List of Tables
Table 1 Saudi Arabia Switchgear Market Size, By Type, By Value, 2018-2028
Table 2 Saudi Arabia Switchgear Market Size, By Voltage, By Value, 2018-2028
Table 3 Saudi Arabia Switchgear Market Size, By Application, By Value, 2018-2028
Table 4 ABB Ltd. Company Overview
Table 5 ABB Ltd. Financial Overview
Table 6 Hyosung Corporation Company Overview
Table 7 Hyosung Corporation Financial Overview
Table 8 Alstom Corporation Company Overview
Table 9 Alstom Corporation Financial Overview
Table 10 Hitachi Ltd. Company Overview
Table 11 Hitachi Ltd. Financial Overview
Table 12 Siemens AG Company Overview
Table 13 Siemens AG Financial Overview
Table 14 CG Industrial and Power Ltd. Company Overview
Table 15 CG Industrial and Power Ltd. Financial Overview
Table 16 General Electric Company Overview
Table 17 General Electric Financial Overview
Table 18 Mitsubishi Electric Corporation Company Overview
Table 19 Mitsubishi Electric Corporation Financial Overview
Table 20 Schneider Electric SE Company Overview
Table 21 Schneider Electric SE Financial Overview
Table 22 Toshiba International Corporation Company Overview
Table 23 Toshiba International Corporation Financial Overview
Market Segmentation
By Type
- Air Insulated Switchgear
- Gas Insulated Switchgear
By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- Ultra-High Voltage
By Application
- Transmission & Distribution
- Manufacturing & Process Industries
- Commercial
- Residential
- Others
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
Frequently Asked Questions (FAQs):
RELATED REPORTS
WHY CHOOSE US
-
24/7 Research Support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Custom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
-
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.