Saudi Arabia Electric Motor Market Overview, 2029

Saudi Arabia Electric Motor Market Overview, 2029

Saudi Arabia, a nation renowned for its abundant oil reserves and rich cultural legacy, has been having a bigger impact on the electronics industry. The Kingdom has been aggressively embracing the digital era and becoming into a center for electronic commerce and innovation. This is due to its fast expanding population and booming economy, which are being pushed by ambitious diversification initiatives. The populace of Saudi Arabia has adopted electronic gadgets and technology at a significantly higher rate in recent years. This trend may be attributed to a multitude of factors, including the growing population that uses the internet, rising disposable incomes, and the increasing number of young people who are tech-savvy and eager to adopt the latest innovations. Through a number of programmers and regulations designed to promote innovation and entrepreneurship in the technology sector, the Saudi Arabian government has been instrumental in accelerating the expansion of the electronic market. One such project is the Saudi Vision 2030, a thorough plan outlining the nation's future growth that heavily emphasizes the digital transformation of society and the economy. To foster an atmosphere that would allow electronic commerce to flourish, the Kingdom has been making significant investments in the construction of infrastructure, including digital payment systems and telecommunications networks. With the help of this investment, a thriving electronic market that offers a variety of goods and services, including digital payment systems, e-commerce platforms, smartphones, and tablets, has emerged in Saudi Arabia. With a range of financial incentives and support initiatives, the Saudi government has been aggressively encouraging innovation and entrepreneurship in the technology industry. As a result, a vibrant startup ecosystem has emerged in the Kingdom, where an increasing number of digital startups and businesses are creating cutting-edge electronic goods and services that are customized to meet the demands of regional consumers.

According to the research report, ""Saudi Arabia Electronic Motor Market Outlook, 2029,"" published by Bonafide Research, the Saudi Arabia Electronic Motor market is anticipated to add to more than USD 260 Million by 2024–29. The division of motors into AC, DC, and hermetic motors is important in Saudi Arabia for a variety of uses in different sectors. Because AC power systems are so common in Saudi Arabia, alternating current (AC) motors are employed there extensively. These motors are effective and fit for a variety of uses, from home appliances to industrial machines. AC motors power fans, pumps, compressors, and other manufacturing equipment in the industrial sector. In the climate of Saudi Arabia, where air conditioning units and refrigeration systems are essential for both comfort and industrial activities, AC motors are essential for these systems' operation. While AC motors are the norm in many applications, DC (direct current) motors are useful in a few Saudi Arabian industries and uses. In applications like robots, lifts, and electric cars where precise speed control or variable torque is needed, DC motors are the preferable choice. The market for DC motors in Saudi Arabia may increase due to the country's rising interest in renewable energy sources and electric vehicles, particularly in industries like solar power generating and electric car production. Hermetic motors are sealed devices intended to keep out outside substances like moisture and dust. These motors are vital for industries like the food and beverage sector, pharmaceutical production, and oil and gas extraction where there are harsh environmental conditions or where cleanliness is critical. Hermetic motors are widely used in Saudi Arabia to power pumps, conveyors, and other equipment that needs to adhere to tight hygiene regulations. The country's economy is heavily dependent on sectors like petrochemicals and food processing. In Saudi Arabia, AC motors are the mainstay of many commercial and residential applications, whilst DC motors are used for specialized applications needing exact control. In sectors where external influences might impair equipment performance, hermetic motors are essential for preserving operational integrity. Collectively, these motor types support the effective operation of several economic sectors in Saudi Arabia.

This category, which has a maximum voltage of 1 kV or low voltage, usually includes low voltage applications. This voltage range is frequently connected to homes, small businesses, and certain industrial sites in Saudi Arabia. It is the voltage level required to power lights, appliances in the home, and other regular electrical requirements. Range of 1 kV to 6.6 kV in voltage As we move up the scale, this range is classified as medium voltage. This voltage range may be used in Saudi Arabia for various distribution networks as well as big commercial and industrial buildings. Larger machinery, air conditioning systems, and other equipment in commercial and industrial buildings need the use of medium voltage systems. When the voltage level exceeds 6.6 kV, high voltage systems are represented in this area. This voltage level is commonly linked to large-scale industrial operations, power production facilities, and significant utility transmission lines in Saudi Arabia. High voltage is required to ensure the dependable functioning of heavy-duty industrial gear and to carry power over long distances with the least amount of loss.

In Saudi Arabia, these sectors would be essential to many facets of the infrastructure and economics of the nation. The vast desert regions of the nation require strong transportation systems for both private and public use. Furthermore, as efforts to diversify the economy such as Vision 2030 get underway, there's a growing desire in building up domestic automobile manufacturing and assembly capacities. Saudi Arabia has been making significant investments in industrialization as part of its efforts to diversify its economy, especially in industries like petrochemicals, mining, and manufacturing. Industrial machinery is essential to these industries' growth and functioning. It is anticipated that demand for sophisticated industrial gear would continue to be high given the nation's aggressive aspirations to grow its industrial base. HVAC (Heating, Ventilation, and Air Conditioning) equipment is essential for both residential and commercial buildings due to Saudi Arabia's severe temperature. Since the majority of the year is spent in oppressive heat, efficient climate management is crucial for everyone's comfort, productivity, and even safety. In addition, the need for HVAC systems in new construction and retrofitting old ones is growing as the nation continues to urbanize and create more infrastructures. In Saudi Arabia, the need for electrical equipment has been rising rapidly due to the country's expanding population and improving level of life. There is a wide market for different consumer items, ranging from entertainment gadgets to household equipment. There is a rising demand for cutting-edge electrical appliances that are energy-efficient and interface with smart home systems as a result of efforts like smart city projects. This category may include a broad spectrum of goods and sectors, contingent upon particular market conditions in Saudi Arabia. It may cover industries including building materials, medical gadgets, renewable energy equipment, and more.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Electric Motor market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Motor Type
• AC Motor
• DC Motor
• Hermetic Motors

By Voltage
• Up to 1 kV
• 1 kV-6.6 kV
• Above 6.6 kV

By Application
• Motor Vehicles
• Industrial Machinery
• HVAC Equipment
• Electrical Appliances
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Electric Motor industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.