Saudi Arabia Conductors Market size is projected to grow at a CAGR of 6.8% during 2024–30F

In terms of application, the power & energy sector garnered the highest revenue share in Saudi Arabia Conductors Market – 6Wresearch

The power & energy sector acquired the maximum revenue share in the market and contributed to its dominance in the market on account of significant growth in the power & energy projects such as Riyadh Smart City, and Jeddah Vision 2030 which include the installation of modern infrastructure. Also launch of solar and wind projects in the power utility sector including Al-Shuaibah 2.6 GW solar project along with 13 ongoing renewable energy projects. Hence, the region’s growing infrastructure investments for reducing oil dependency and the rising power utility sector would spur the growth in market revenues for conductors in coming years.

According to 6Wresearch, The Saudi Arabia Conductors Market size is projected to grow at a CAGR of 6.8% during 2024–30F. Growth of the construction industry in Saudi Arabia would be supported by investments in ‘Giga projects’ that were launched as part of Saudi Arabia’s ‘Vision 2030’ economic diversification plan and thus, would fuel the market of conductors in the forthcoming years. Saudi Arabia growing demand for electricity fueled by ambitious construction projects, aims to diversify its energy mix by investing in a substantial increase in power capacity, presenting an opportunity for the expansion of the conductor market to support the transmission of electricity from renewable sources and foster sustainable energy infrastructure.

The surge in raw material prices, particularly for copper and aluminum and the declining workforce in Saudi Arabia, particularly in construction, raises concerns about skill shortages in the electrical and electronics industries, potentially affecting the manufacturing, installation, and maintenance of electrical conductors.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, in the coming years, the Industrial sector by application is expected to experience significant growth, in the future, primarily due to the emergence of upcoming factories and manufacturing facilities. These developments are part of a concerted effort to increase the industrial share in the Kingdom's Gross Domestic Product (GDP), aligning with the objectives outlined in Vision 2030.

The Saudi Arabia Conductors Market (2024-2030) report provides an in-depth analysis with 11 figures and 4 tables, covering 74 pages. The report comprehensively covers the market by application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.