Growing petrochemical industry, expansion of industrial sector along with upcoming infrastructural projects are some of the key factors which would fuel the growth of Saudi Arabia Electric Drives market over the next six years. Further, expected recovery of oil prices would also increase government funding in oil & gas and petrochemical projects which would drive the demand for electric drives in the country.
According to research, Saudi Arabia Electric Drives market revenues are projected to grow at a CAGR of 5.3% during 2017-2023. Though, the market witnessed decline in 2015 and 2016 and the same trend is expected in 2017 as well, however, the market is likely to improve post 2017 due to anticipated recovery of oil prices. Changing government policies, economic diversification, expansion of automotive manufacturing as well as growth in petrochemical industry would fuel the market for electric Drives in Saudi Arabia.
In terms of power rating, high power drives dominated the market revenues on account of their huge consumption in the oil & gas and petrochemical industry. Further, high power drives would continue to dominate during the forecast period. Amongst all end users, the Petrochemical, Chemicals and Fertilizers (PCF), Oil & Gas, Water and Utilities sectors dominated the market, where major growth is exhibited in the PCF and Water and Utilities sectors. The key players in Saudi Arabia electric Drives market include: ABB, Schneider, Siemens and Rockwell and Danfoss.
- ABB Electrical Industries Co. Ltd.
- CG Power Systems Belgium NV
- Danfoss A/S
- Eaton Corporation
- General Electric Company
- Nidec Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
WEG Middle East FZE
Key Topics Covered:
1. Executive Summary
3. Market Overview
4. Market Dynamics
5. Market Trends
6. Saudi Arabia Electric Drives Market, By Types
7. Saudi Arabia Electric Drives Market, By Voltage
8. Saudi Arabia Electric Drives Market, By Power
9. Saudi Arabia Electric Drives Market, By End User
10. Saudi Arabia Electric Drives Market, By Applications
11. Saudi Arabia Electric Drives Market, By Regions
12. Spending Outlook
13. Market Opportunity Assessment
14. Competitive Landscape
15. Company Profiles
16. Key Strategic Pointers
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