Report Overview

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

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents
   5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Switchgear Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Saudi Arabia Switchgear Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. 1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Air Insulated Switchgear
         2. Gas Insulated Switchgear
      2. By Voltage
         1. Low Voltage
         2. Medium Voltage
         3. High Voltage
         4. Ultra-High Voltage
      3. By Application
         1. Transmission & Distribution
         2. Manufacturing & Process Industries
         3. Commercial
         4. Residential
         5. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships)
7. Impact of Covid-19 on Saudi Arabia Switchgear Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. ABB Ltd.
   2. Hyosung Corporation
   3. Alstom SA
   4. Hitachi Ltd.
   5. Siemens AG
   6. CG Power & Industrial Ltd.
   7. General Electric
   8. Mitsubishi Electric Corporation
   9. Schneider Electric SE
   10. Toshiba International Corporation
9. 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