Growing petrochemical industry, expansion of industrial sector along with upcoming infrastructure projects are some of the key factors which would fuel the growth of Saudi Arabia electric motor market in the forecast period. Additionally, expected recovery of oil prices would also increase government funding in oil & gas and petrochemical projects, which would further drive the demand for electric motors in the country.
According to research, Saudi Arabia electric motor market revenues are projected to grow at a CAGR of 5.3% during 2017-2023. The market has declined in 2015 and 2016 and same trend is expected in 2017 as well. However, the market is likely to recover post 2017 due to expected recovery of oil prices. Changing government policies, establishment of special economic zones and expansion of automotive manufacturing as well as growth in petrochemical industry would spur the market for electric motors in Saudi Arabia.
Amongst all end users, the Petrochemical, Chemicals and Fertilizers (PCF), oil & gas and water & utilities sectors dominated the market, where major growth is exhibited in the Petrochemical, Chemicals, and Fertilizers (PCF) and water and utilities segments. The key players in Saudi Arabia electric motor market include: ABB, Siemens, WEG, Teco and Nidec.
Ashoor Electric Motors
ATB SCHORCH GmbH
CG Power Systems Belgium NV
General Electric Company
TECO Middle East Electrical and Machinery Co. Ltd.
WEG Middle East FZE
Key Topics Covered:
1. Executive Summary
3. Saudi Arabia Electric Motor Market Overview
4. Saudi Arabia Electric Motor Market Dynamics
5. Saudi Arabia Electric Motor Market Trends
6. Saudi Arabia Electric Motor Market Overview, By Types
7. Saudi Arabia Electric Motor Market Overview, By Voltage
8. Saudi Arabia Electric Motor Market Overview, By End Users
9. Saudi Arabia Electric Motor Market Overview, By Applications
10. Saudi Arabia Electric Motor Market Overview, By Regions
11. Saudi Arabia Government Spending Outlook
12. Saudi Arabia Electric Motor Refurbishment Market Overview