Saudi Arabia Electric Motor Market (2024-2030) | Trends, Share, Forecast, Industry, Value, Segmentation, Analysis, Size, Growth, Outlook
Market Forecast By Types (AC Electric Motor And DC Electric Motor), By Power Output (Fractional Horsepower And Integral Horsepower), By Voltage (Low Voltage, Medium Voltage And High Voltage), By Application (Pumps, Fans, Compressors, Conveyors And Others (Centrifuges, Extruders And Winches)), By End-User (Industrial Machinery, HVAC Equipment, Automobile, Consumer Appliances, Aerospace & Transportation, Power Generation And Others Commercial Application (Agriculture And Mining)) And Competitive Landscape
| Product Code: ETC002409 | Publication Date: Dec 2023 | Updated Date: May 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Saudi Arabia Electric Motor Market Competition 2023
Saudi Arabia Electric Motor market currently, in 2023, has witnessed an HHI of 800, Which has decreased slightly as compared to the HHI of 1061 in 2017. The market is moving towards highly competitive. 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 while a large index number means fewer numbers of players or countries exporting in the market.
Saudi Arabia Export Potential Assessment For Electric Motor Market (Values in USD Thousand)
Topics Covered in the Saudi Arabia Electric Motor Market
Saudi Arabia Electric Motor Market report thoroughly covers the market by types, by power output, by voltage, by application, and by end-user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Electric Motor Market Synopsis
Saudi Arabia Electric Motor Market has been continuously expanding. The driving factor behind this growth is the increased demand for electric vehicles, which is expected to boost demand for electric motors as well. Saudi Arabia is one of the largest and most influential countries in the Arabian Peninsula.
According to 6Wresearch, the Saudi Arabia Electric Motor Market size is witnessing growth with expected CAGR of 7.3% during the forecast period of 2024-2030. The industry in Saudi Arabia is being driven by the government’s investment in renewable energy projects, the rise in industrialization and the growth of the construction industry. Furthermore, electric motors are more energy-efficient and environment-friendly than their gasoline or diesel counterparts. This is prompting companies to switch to electric motors and boost the market demand. Despite the growing demand, the electric motor industry in Saudi Arabia faces challenges. One of the key challenges is the lack of skilled workers. The industry requires highly skilled engineers and technicians for designing, manufacturing, and maintaining electric motors. Another challenge is the lack of local raw material suppliers. Most of the components of electric motors are imported from other countries. Saudi Arabia electric motor industry is experiencing various trends. One of the most significant trends is the shift towards Electric Vehicle (EV) production. The government’s ambitious target of having 30% of all vehicles on the road to be electric by 2030 is contributing to this trend. Furthermore, the trend of Industrial Internet of Things (IIoT) is pushing for electric motor production with cloud capabilities.
Government policies and schemes introduced in the Saudi Arabia Electric Motor Market
The Saudi Arabia Electric Motor Market Growth is largely due to increased demand for energy-efficient motors in various industrial and commercial sectors. To further boost this growth, the Government has introduced various policies and schemes aimed at promoting the use of electric motors and greener technologies. One of the top policies introduced in the Saudi Arabia Electric Motor Market is the Saudi Energy Efficiency Program (SEEP). Its goal is to encourage the adoption of energy-efficient technologies across all industries. SEEP provides companies with free energy audits, helps them develop customized action plans, and provides partial grants to cover the costs of implementing energy-efficient technologies. This program has been instrumental in helping companies save money on their energy bills while promoting sustainable practices in the industry. The government has also introduced the Saudi Energy Labeling and Standards (SELS) program. This initiative regulates the energy efficiency standards of electric motors, as well as other electronic devices. Manufacturers have to comply with the energy efficiency standards stipulated by SELS to ensure their products are compliant with the latest regulations. This program has helped to safeguard consumers by guaranteeing the quality of electric motors sold in the market while promoting energy efficiency.
Leading players in the Saudi Arabia Electric Motor Market
The leading players in Saudi Arabia Electric Motor Industry have played an important role in helping the country’s industrial sector evolve through their innovative and reliable electric motor products. ABB, Siemens, WEG, Nidec, and TECO are among the top players in this market, offering a diverse product range that caters to a range of industries.
Market Analysis by Power Output
According to Sonali, Senior Research Analyst, 6Wresearch, the fractional horsepower segment is expected to lead the Saudi Arabia electric motor market share owing to surging deployment of motors from industries coupled with increasing investment during the forecast period.
Market Analysis by End-User
By End-User, the power generation and industrial machinery segments are dominating the electric motor market revenue share in Saudi Arabia on account of surging power utility in the automotive industry, growing demand for energy-efficient systems in the manufacturing and construction industry.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Saudi Arabia Electric Motor Market Outlook
- Market Size of Saudi Arabia Electric Motor Market, 2023
- Forecast of Saudi Arabia Electric Motor Market, 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Revenues & Volume for the Period 2020 - 2030
- Saudi Arabia Electric Motor Market Trend Evolution
- Saudi Arabia Electric Motor Market Drivers and Challenges
- Saudi Arabia Electric Motor Price Trends
- Saudi Arabia Electric Motor Porter's Five Forces
- Saudi Arabia Electric Motor Industry Life Cycle
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Motor Type for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Voltage Range for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By 10-20 V for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By 21-60 V for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Application for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Industrial machinery for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Motor vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Household appliances for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Other for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2020 - 2030
- Historical Data and Forecast of Saudi Arabia Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2020 - 2030
- Saudi Arabia Electric Motor Import Export Trade Statistics
- Market Opportunity Assessment By Motor Type
- Market Opportunity Assessment By Voltage Range
- Market Opportunity Assessment By Application
- Market Opportunity Assessment By Speed (RPM)
- Saudi Arabia Electric Motor Top Companies Market Share
- Saudi Arabia Electric Motor Competitive Benchmarking By Technical and Operational Parameters
- Saudi Arabia Electric Motor Company Profiles
- Saudi Arabia Electric Motor Key Strategic Recommendations
Market Covered
The report offers a comprehensive study of the subsequent market segments:
By Motor Type
- Alternate Current (AC) Motor
- Direct Current (DC) Motor
- Hermetic Motor
By Voltage Range
- 9 V & Below
- 10-20 V
- 21-60 V
- 60 V & Above
By Application
- Industrial Machinery
- Motor Vehicles
- Heating
- Ventilating
- And Cooling (HVAC) Equipment
- Aerospace & Transportation
- Household Appliances
- Other
By Speed (RPM)
- Low-Speed Electric Motors (Less Than 1,000 RPM)
- Medium-Speed Electric Motors (1,001-25,000 RPM)
- High-Speed Electric Motors (25,001-75,000 RPM)
- Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)
Saudi Arabia Electric Motor Market (2024-2030): FAQs
Increasing demand for energy-efficient products, increasing adoption and sales of electric vehicles, and reduction in operating costs are the key factors boosting the growth of the electric motor market in Saudi Arabia.
Some significant players that have been stimulating the market growth are ABB Ltd., WEG Industries SA, Siemens AG, Toshiba International Corporation, Emerson Electric Co., Nidec Corporation, and Regal Beloit Corporation.
Based on power output, the fractional horsepower segment is expected to lead the electric motor market revenue share in Saudi Arabia owing to surging deployment of motors from industries coupled with increasing investment during the forecast period.
The power generation and industrial machinery segments are dominating the electric motor market revenue share in Saudi Arabia
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
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| 1. Executive Summary |
| 2. Introduction |
| 2.1. Report Description |
| 2.2. Key Highlights of The Report |
| 2.3. Market Scope & Segmentation |
| 2.4. Research Methodology |
| 2.5. Assumptions |
| 3. Saudi Arabia Electric Motor Market Overview |
| 3.1. Saudi Arabia Country Indicators |
| 3.2. Saudi Arabia Electric Motor Market Revenues, 2020-2030F |
| 3.3. Saudi Arabia Electric Motor Market Revenue Share, By Voltage, 2020 & 2030F |
| 3.4. Saudi Arabia Electric Motor Market Revenue Share, By Types, 2020 & 2030F |
| 3.5. Saudi Arabia Electric Motor Market Revenue Share, By Applications, 2020 & 2030F |
| 3.6. Saudi Arabia Electric Motor Market Revenue Share, By End-Users, 2020 & 2030F |
| 3.7. Saudi Arabia Electric Motor Market - Industry Life Cycle |
| 3.8. Saudi Arabia Electric Motor Market - Porter’s Five Forces |
| 4. Saudi Arabia Electric Motor Market Dynamics |
| 4.1. Impact Analysis |
| 4.2. Market Drivers |
| 4.3. Market Restraints |
| 5. Saudi Arabia Electric Motor Market Trends |
| 6. Saudi Arabia Electric Motor Market Overview, By Voltage |
| 6.1. Saudi Arabia Low Voltage Electric Motor Market Revenues, 2020-2030F |
| 6.2. Saudi Arabia Medium Voltage Electric Motor Market Revenues, 2020-2030F |
| 6.3. Saudi Arabia High Voltage Electric Motor Market Revenues, 2020-2030F |
| 7. Saudi Arabia Electric Motor Market Overview, By Types |
| 7.1. Saudi Arabia Electric Motor Market Revenues, By AC Type, 2020-2030F |
| 7.2. Saudi Arabia Electric Motor Market Revenues, By DC Type, 2020-2030F |
| 8. Saudi Arabia Electric Motor Market Overview, By Applications |
| 8.1. Saudi Arabia Electric Motor Market Revenues, By Pump Application, 2020-2030F |
| 8.2. Saudi Arabia Electric Motor Market Revenues, By Fan Application, 2020-2030F |
| 8.3. Saudi Arabia Electric Motor Market Revenues, By Conveyor Application, 2020-2030F |
| 8.4. Saudi Arabia Electric Motor Market Revenues, By Compressors Application, 2020-2030F |
| 8.5. Saudi Arabia Electric Motor Market Revenues, By Other Applications, 2020-2030F |
| 9. Saudi Arabia Electric Motor Market Overview, By End-Users |
| 9.1. Saudi Arabia Electric Motor Market Revenues, By Industrial Processing, 2020-2030F |
| 9.2. Saudi Arabia Electric Motor Market Revenues, By Commercial HVAC, 2020-2030F |
| 9.3. Saudi Arabia Electric Motor Market Revenues, By Automotive, 2020-2030F |
| 9.4. Saudi Arabia Electric Motor Market Revenues, By Consumer Appliances, 2020-2030F |
| 9.5. Saudi Arabia Electric Motor Market Revenues, By Power Generation, 2020-2030F |
| 9.6. Saudi Arabia Electric Motor Market Revenues, By Others, 2020-2030F |
| 10. Saudi Arabia Electric Motor Market - Key Performance Indicators |
| 11. Saudi Arabia Electric Motor Market - Opportunity Assessment |
| 11.1. Saudi Arabia Electric Motor Market Opportunity Assessment, By Types, 2030F |
| 11.2. Saudi Arabia Electric Motor Market Opportunity Assessment, By Applications, 2030F |
| 12. Saudi Arabia Electric Motor Market Competitive Landscape |
| 12.1. Saudi Arabia Electric Motor Market Revenue Share, By Companies, 2023 |
| 12.2. Saudi Arabia Electric Motor Market Competitive Benchmarking, By Operating & Technical Parameters |
| 13. Company Profiles |
| 14. Key Recommendations |
| 15. Disclaimer |
Market Forecast By Types (AC Electric Motor And DC Electric Motor), By Power Output (Fractional Horsepower And Integral Horsepower), By Voltage (Low Voltage, Medium Voltage And High Voltage), By Application (Pumps, Fans, Compressors, Conveyors And Others (Centrifuges, Extruders And Winches)), By End-User (Industrial Machinery, HVAC Equipment, Automobile, Consumer Appliances, Aerospace & Transportation, Power Generation And Others Commercial Application (Agriculture And Mining)) And Competitive Landscape
| Product Code: ETC002409 | Publication Date: Apr 2020 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Saudi Arabia Electric Motor Market | Country-Wise Share and Competition Analysis
In the year 2021, Sweden was the largest exporter in terms of value, followed by Italy. It has registered a growth of 150133.78% over the previous year. While Italy registered a growth of 10.67% as compare to the previous year. In the year 2017 Sweden was the largest exporter followed by China. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Saudi Arabia has the Herfindahl index of 1061 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of 820 which signifies high competitiveness in the market.
Saudi Arabia Electric Motor Market - Export Market Opportunities
Latest 2023 Developments of Saudi Arabia Electric Motor Market
Saudi Arabia Electric Motor Market has accomplished significant developments, reflecting the nation’s commitment to sustainable energy solutions. The rising implementation of energy-efficient motors which support in saving electricity as well as reduce carbon emission is the major development of the market. The country has been investing in renewable energy, especially solar power and this trend also drives the demand for these motors that are used in solar panels as well as other renewable energy systems. Rise of advanced electric motor technologies which incorporate smart sensors and control systems in order to optimize performance and minimize downtime is another significant market development.
Topics Covered in Saudi Arabia Electric Motor Market Report
Saudi Arabia Electric Motor Market report thoroughly covers the market by types, power output, voltage, applications, and end-user. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Electric Motor Market is projected to grow over the coming year. Saudi Arabia Electric Motor Market report is a part of our periodical regional publication Middle East Electric Motor Market Outlook report. 6W tracks electric motor market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Electric Motor Market outlook report annually.
Saudi Arabia Electric Motor Market Synopsis
Saudi Arabia Electric Motor Market is projected to grow over the coming year owing to the growing implementations and sales of electric vehicles, and reduced operation costs as well as the growing demand for the products that are energy-efficient.
According to 6wresearch, the Saudi Arabia Electric Motor Market size is expected to grow during 2020-2026. The market is driven by the growing automotive industry and developing infrastructure coupled with increasing investment in the industrial sector. Increasing demand for energy-efficient products, increasing adoption and sales of electric vehicles, and reduction in operating costs are the key factors boosting the growth of the electric motor market in Saudi Arabia. The government in the country is pushing towards renewable energy sources and sustainable development. The nation has set ambitious purposes in order to decrease its reliance on gas and oil, which leads to investments in wind farms, solar power plants, as well as other green technologies. The growth of automation in many sectors also contribute to the market growth. Automation needs efficient and reliable motors in order to run machinery with accuracy and precision. These drivers are leading to the Saudi Arabia Electric Motor Market Growth.
COVID-19 Impact on Saudi Arabia Electric Motor Market
The pandemic has made it extremely difficult for the market to operate smoothly in the country since there was a strong decrease in demand for these electric motors during the pandemic. The outbreak of the coronavirus resulted in disruption of electric motors owing to the reduction in manufacturing output and industrial activities. A number of manufacturers confronted significant challenges and disruptions related to supply chain management, raw material procurement, and workforce availability during the peak. These factors definitely led to a rise in costs of production, which affected consumer prices. The market started to recover with gradual eased up over time and reopening of businesses.
Key Players in Saudi Arabia Electric Motor Industry
Some significant players that have been stimulating the market growth are:
- ABB Ltd.
- WEG Industries SA
- Siemens AG
- Toshiba International Corporation
- Emerson Electric Co.
- Nidec Corporation
- Regal Beloit Corporation
Market by Power Output
Based on power output, the fractional horsepower segment is expected to lead the electric motor market revenue share in Saudi Arabia owing to surging deployment of motors from industries coupled with increasing investment during the forecast period. Furthermore, in Saudi Arabia, the market is expected to register a decline in the economic growth over the first quarter of 2020, on account of the coronavirus pandemic which has a worse impact on worldwide business. However, the market in Saudi Arabia is expected to recover with healthy growth in the economy during the second half of 2020-2026.
Market by End-User
According to Nikhil, Senior Research Manager, 6Wresearch, the power generation and industrial machinery segments are dominating the electric motor market revenue share in Saudi Arabia on account of surging power utility in the automotive industry, growing demand for energy-efficient systems in the manufacturing and construction industry.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2029.
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Reports
- Saudi Arabia Electric Motor Market Overview
- Saudi Arabia Electric Motor Market Outlook
- Saudi Arabia Electric Motor Market Forecast
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, until 2026.
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, by type, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, by type, until 2026.
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, by power output, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, by power output, until 2026.
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, by voltage, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, by voltage, until 2026.
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, by end-user, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, by end-user, until 2026.
- Historical Data of Saudi Arabia Electric Motor Market Revenues and Volumes, by application, for the Period 2016-2019.
- Market Size & Forecast of Saudi Arabia Electric Motor Market Revenues and Volumes, by application, until 2026.
- Market Drivers and Restraints
- Saudi Arabia Electric Motor Market Price Trends
- Saudi Arabia Electric Motor Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Saudi Arabia Electric Motor Market Share, By Players
- Saudi Arabia Electric Motor Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- AC Electric Motor
- DC Electric Motor
By Power Output
- Integral Horsepower
- Fractional Horsepower
By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
By Applications
- Pumps
- Fans
- Compressors
- Conveyors
- Others (Centrifuges, Extruders and Winches)
By End-User
- Industrial Machinery
- HVAC Equipment
- Automobile
- Consumer Appliances
- Aerospace & Transportation
- Power generation
- Other Commercial Application (Agriculture and Mining)
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