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Saudi Arabia Switchgear Market (2023-2029) Size, Share, Trends, Revenue, Industry, Growth & Outlook: Market Forecast by Voltage, Applications and Competitive Landscape

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    Report

  • 75 Pages
  • October 2023
  • Region: Saudi Arabia
  • 6W Research
  • ID: 5130007

Saudi Arabia Switchgear Market Shipment Analysis registered a decline of -37.26% in value shipments in 2021 as compared to 2020 and an increase of 10.56% CAGR in 2021 over a period of 2017. In Switchgear Market Shipment Analysis Saudi Arabia is becoming less competitive as HHI index in 2021 was 4974 while in 2017 it was 1060. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the Market Shipment Analysis while a large index number means less numbers of players or countries exporting in the Market Shipment Analysis.

Saudi Arabia Switchgear Market Synopsis

Saudi Arabia Switchgear Market grew at a significant rate during the period 2019-2022 on account of residential, commercial and other infrastructure developments. However, market got affected in 2020 by the COVID-19 pandemic, which caused disruptions in the supply chain and brought a temporary halt in construction activities. Although, burgeoning infrastructure in the region would drive the market for switchgear. For instance, in September 2023, country has announced project worth over SR65 billion ($17.3 billion) in the housing sector and also, the government’s aim to established the nation as manufacturing hub in order to diversify the economy from oil to non-oil would introduce more industrial construction in coming years which, therefore, is expected to boost the demand for switchgear in the years ahead.

According to the report, Saudi Arabia's Switchgear market size is anticipated to grow at a CAGR of 4.4% respectively during 2023-2029. Under, National Renewable Energy Program, nation aims to generate 50 percent electricity through renewable sources by 2030 and the achievement could be seen with launch of solar and wind projects in the power utility sector. For instance, Al-Shuaibah 2.6 GW solar project along with 13 ongoing renewable energy projects with a collective capacity of 11.3 GW would be witness by the country in the coming years which would propel the demand for switchgear. Additionally, Saudi Arabia would see the development of 71 schools and education complexes, mega-projects such as Amaala, Qiddiya, King Salman Park, New Murabba, Red-Sea project which would be featuring residential units, commercial development such as hotels, malls, retail spaces and other entertainment related infrastructure during the forthcoming years and thus, would contribute to the growth of switchgear market.

Market by Voltage

Low voltage Switchgear has accounted highest revenue share in Saudi Arabia switchgear market owing to its wide usage in residential, commercial and other sectors. Further, growing demand for residential units, such as Northwestern Red Sea Coast project spread over 3,300 square km includes 2,500 luxury hotel rooms and 700 residential villas. establishment of commercial offices, hotels including Addition of 24,550 and 15,000 hotel keys in Riyadh and DMA by 2024 would create more demand for low voltage switchgear in Saudi Arabia market.

Market by Insulation

MCCB accounted for the highest revenue share and same is expected to continue in the upcoming years on the back of upcoming mixed-use projects such as Northwestern edge of Saudi Arabia, Southwest Riyadh. Moreover, upcoming hotel projects Sindalah project, Trojena project 2026 and others would also add a growth in the market share of MCCB.

Market by Applications

In switchgear market of Saudi Arabia, Power Utilities sector followed by Industrial Sector has acquired major revenue share on the back of government plans to develop 30 solar and wind projects with $50 billion program along with rising industrial projects such as the nation has signed five agreements worth more than $11.4 billion in 2023 for the construction of key industrial projects in the cities of Ras Al Khair and Yanbu would boost the demand for switchgear products in power utilities and industrial sector during forthcoming years.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market
  • 11 Years Market Numbers
  • Historical Data Starting from 2019 to 2022
  • Base Year: 2022
  • Forecast Data until 2029
  • Key Performance Indicators Impacting the Market
  • Major Upcoming Developments and Projects

Key Highlights of the Report

  • Saudi Arabia Switchgear Market Overview
  • Saudi Arabia Switchgear Market Outlook
  • Saudi Arabia Switchgear Market Forecast
  • Historical Data and Forecast of Saudi Arabia Switchgear Market Revenues for the Period 2019-2029F
  • Historical Data and Forecast of Saudi Arabia Switchgear Market Revenues, By Voltage, for the Period 2019-2029F
  • Historical Data and Forecast of Saudi Arabia Switchgear Market Revenues, By Applications, for the Period 2019-2029F
  • Historical Data and Forecast of Saudi Arabia Switchgear Market Revenues, By Insulation, for the Period 2019-2029F
  • Market Drivers and Restraints
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Trends
  • Saudi Arabia Switchgear Market Revenue Share, By Companies, 2022
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Voltage

  • Low Voltage Switchgear
  • Medium Voltage Switchgear
  • High Voltage Switchgear

By Insulation

  • Low Voltage Switchgear
  • Medium Voltage Switchgear
  • High Voltage Switchgear

By Applications

  • Residential
  • Commercial
  • Industrial
  • Power Utilities
  • Transportation and Infrastructure

Table of Contents


1. Executive Summary
2. Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions

3. Saudi Arabia Switchgear Market Overview
3.1 Saudi Arabia Switchgear Market Revenues, 2019-2029F
3.2 Saudi Arabia Switchgear Market - Industry Life Cycle
3.3 Saudi Arabia Switchgear Market - Porter's Five Forces
3.2 Saudi Arabia Switchgear Market Revenue Share, By Voltage 2022 & 2029F
3.3 Saudi Arabia Switchgear Market Revenue Share, By Applications 2022 & 2029F

4. Saudi Arabia Switchgear Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints

5. Saudi Arabia Switchgear Market Trends and Evolution
6. Saudi Arabia Low Voltage Switchgear Market Overview
6.1 Saudi Arabia Low Voltage Switchgear Market Revenues
6.2 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, By Insulation, 2019-2029F
6.2.1 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, MCCB, 2019-2029F
6.2.2 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, MCB, 2019-2029F
6.2.3 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, ACB, 2019-2029F
6.2.4 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, RCD, 2019-2029F
6.2.5 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Distribution Board, 2019-2029F
6.2.6 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Contractors and Relays, 2019-2029F
6.3 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, By Applications, 2019-2029F
6.3.1 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Residential, 2019-2029F
6.3.2 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Commercial, 2019-2029F
6.3.3 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Industrial, 2019-2029F
6.3.4 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Power Utilities, 2019-2029F
6.3.5 Saudi Arabia Low Voltage Switchgear Market Revenue Share and Revenues, Transportation and Infrastructure, 2019-2029F

7. Saudi Arabia Medium Voltage Switchgear Market Overview
7.1 Saudi Arabia Medium Voltage Switchgear Market Revenues
7.2 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Insulation, 2019-2029F
7.2.1 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By GIS, 2019-2029F
7.2.2 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By AIS, 2019-2029F
7.3 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Applications, 2019-2029F
7.3.1 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Commercial, 2019-2029F
7.3.2 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Industrial, 2019-2029F
7.3.3 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Power Utilities, 2019-2029F
7.3.4 Saudi Arabia Medium Voltage Switchgear Market Revenue Share and Revenues, By Transportation and Infrastructure, 2019-2029F

8. Saudi Arabia High Voltage Switchgear Market Overview
8.1 Saudi Arabia High Voltage Switchgear Market Revenues
8.2 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By Insulation, 2019-2029F
8.2.1 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By GIS, 2019-2029F
8.2.2 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By AIS, 2019-2029F
8.2.3 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By Others (Hybrid Switchgear), 2019-2029F
8.3 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By Applications, 2019-2029F
8.3.1 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By Power Utilities, 2019-2029F
8.3.2 Saudi Arabia High Voltage Switchgear Market Revenue Share and Revenues, By Industrial, 2019-2029F

9. Saudi Arabia Switchgear Market Key Performance Indicators
10. Saudi Arabia Switchgear Market Opportunity Assessment
10.1 Saudi Arabia Switchgear Market Opportunity Assessment, By Voltage, 2029F
10.2 Saudi Arabia Switchgear Market Opportunity Assessment, By Applications, 2029F

11. Saudi Arabia Switchgear Market Competitive Landscape
11.1 Saudi Arabia Switchgear Market Revenue Share, By Companies
11.2 Saudi Arabia Switchgear Market Competitive Benchmarking, By Technical Parameters
11.3 Saudi Arabia Switchgear Market Competitive Benchmarking, By Operating Parameters

12. Company Profiles
12.1 ABB Ltd.
12.2 Schneider Electric
12.3 Eaton Corporation
12.4 Siemens AG
12.5 HD Hyundai Electric
12.6 Alfanar Group
12.7 Mitsubishi Electric Corporation
12.8 Lucy Electric
12.9 KFB Holding Group
12.10 Musaid Switchgear Factory Company Ltd.

13. Key Strategic Recommendations
List of Figures
Figure 1. Saudi Arabia Switchgear Market Revenues, 2019-2029F ($ Million)
Figure 2. Saudi Arabia Switchgear Market Revenue Share, By Voltage, 2022 & 2029F
Figure 3. Saudi Arabia Switchgear Market Revenue Share, By Applications, 2022 & 2029F
Figure 4. Saudi Arabia Low Voltage Switchgear Market Revenues, 2019-2029F ($ Million)
Figure 5. Saudi Arabia Low Voltage Switchgear Market Revenue Share, By Insulation, 2022 & 2029F
Figure 6. Saudi Arabia Low Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F
Figure 7. Saudi Arabia Medium Voltage Switchgear Market Revenues, 2019-2029F ($ Million)
Figure 8. Saudi Arabia Medium Voltage Switchgear Market Revenue Share, By Insulation, 2022 & 2029F
Figure 9. Saudi Arabia Medium Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F
Figure 10. Saudi Arabia High Voltage Switchgear Market Revenues, 2019-2029F ($ Million)
Figure 11. Saudi Arabia High Voltage Switchgear Market Revenue Share, By Insulation, 2022 & 2029F
Figure 12. Saudi Arabia High Voltage Switchgear Market Revenue Share, By Applications, 2022 & 2029F
Figure 13. Saudi Arabia Year-on-Year % Change in Hotel Supply, Q3 2020 - Q3 2021
Figure 14. Saudi Arabia Hotel Supply (No. of Branded Hotel Keys), Q3 2020-FY 2023E
Figure 15. Saudi Arabia Home Ownership (%), 2017-2030F
Figure 16. Saudi Arabia Housing Stock Supply (Thousand Units), 2019-2023F
Figure 17. Saudi Arabia Total Number of Industrial Projects, Sep’2021-Sep’2022
Figure 18. Saudi Arabia Number Of Factories that Commenced Operations, 1st Half 2020 - 1st Half 2021
Figure 19. Saudi Arabia’s Investors of 79 Industrial Projects (%), September’2022
Figure 20. Saudi Arabia Switchgear Market Opportunity Assessment, By Voltage, 2029F
Figure 21. Saudi Arabia Switchgear Market Opportunity Assessment, By Applications, 2029F
Figure 22. Saudi Arabia Switchgear Market Revenue Share, By Companies, 2022

List of Tables
Table 1. Saudi Arabia Low Voltage Switchgear Market Revenues, By Insulation, 2019-2029F ($ Million)
Table 2. Saudi Arabia Low Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)
Table 3. Saudi Arabia Medium Voltage Switchgear Market Revenues, By Insulation, 2019-2029F ($ Million)
Table 4. Saudi Arabia Medium Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)
Table 5. Saudi Arabia High Voltage Switchgear Market Revenues, By Insulation, 2019-2029F ($ Million)
Table 6. Saudi Arabia High Voltage Switchgear Market Revenues, By Applications, 2019-2029F ($ Million)

Companies Mentioned

  • ABB Ltd.
  • Alfanar Group
  • Eaton Corporation
  • HD Hyundai Electric
  • KFB Holding Group
  • Lucy Electric
  • Mitsubishi Electric Corporation
  • Musaid Switchgear Factory Company Ltd.
  • Schneider Electric
  • Siemens AG