Saudi Arabia Electric Plugs and Sockets Market (2024-2030) | Growth, Companies, Forecast, Share, Analysis, Industry, Size, Revenue, Outlook, Value & Trends

Saudi Arabia Electric Plugs and Sockets Market Synopsis

The Saudi Arabia electric plugs and sockets market is expected to grow at a CAGR of around 5.2% during 2020-2026. The growing demand for electrical appliances, the rising usage of renewable energy sources, increasing investments in infrastructure development projects as well as rapid urbanization are some of the major drivers responsible for the growth of Saudi Arabia electric plugs and sockets industry. Additionally, government initiatives such as Vision 2030 have played a significant role in driving investment towards the sector which has further contributed to its expansion over recent years.

Market Drivers

The increasing availability and affordability of electrical products such as air conditioners, refrigerators and washing machines in Saudi Arabia has been one of the primary factors driving the growth of electric plugs & sockets market. This is because these items require specialized plug points with efficient connection mechanisms required by them to function properly. Furthermore, an increase in disposable income among consumers across all demographics has also resulted in heightened purchase activity within this segment over past few years supporting its growth prospects going forward over 2020-2026 period. In line with global trends towards decarbonizing economies rapidly shifting towards renewable sources such as solar power generation will be another key factor boosting demand for electric plug & socket devices during forecasted time frame (2020-2026). As per 6wresearch, estimates total installed photovoltaic capacity stood around 2 GW/year by end 2019 which was significantly higher compared to just 650 MW/year recorded back 2015 indicating increased focus on expanding country??s solar portfolio from governmental authorities that bodes well potential sales opportunities associated with these components within domestic markets going forward till 2026.

Challenges of the Market

Despite various economic incentives being provided by governments across MENA region high installation costs associated with installing new systems or retrofitting existing ones still remains one major hurdle preventing mass adoption amongst general consumer base thereby limiting growth potential this particular business vertical . For instance , even though cost per watt peak reported 2018 was much lower than those observed during 2010 numbers still remain considerably high when compared against other parts world making it difficult customers invest large sums into upgrading their homes / offices without proper financial backup available form state itself or through private institutions.

Covid 19 Impact on the Market

The COVID-19 pandemic has affected both supply and demand sides of various industries worldwide including electric plugs and sockets industry in Saudi Arabia. With major production sites forced to shut down due to lockdown measures imposed by governments worldwide, key players are facing difficulty in meeting customer requirements resulting into delayed product availability or stock out situation at certain locations leading to slowdown or decline in revenue generation prospects for 2020-2021 financial year.

key players of the Market

Some of the prominent players operating in Saudi Arabia Electric Plug & Socket Market include ABB Ltd., Belkin International Inc., Eaton Corporation Plc., Hager Group SA, Hubbell Incorporated, Legrand S.A., Mennekes Elektrotechnik GmbH & Co KG., Schneider Electric SE, Siemens AG among others.

Key Highlights of the Report:

• Saudi Arabia Electric Plugs and Sockets Market Outlook
• Market Size of Saudi Arabia Electric Plugs and Sockets Market, 2023
• Forecast of Saudi Arabia Electric Plugs and Sockets Market, 2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Revenues & Volume for the Period 2020-2030
• Saudi Arabia Electric Plugs and Sockets Market Trend Evolution
• Saudi Arabia Electric Plugs and Sockets Market Drivers and Challenges
• Saudi Arabia Electric Plugs and Sockets Price Trends
• Saudi Arabia Electric Plugs and Sockets Porter's Five Forces
• Saudi Arabia Electric Plugs and Sockets Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Two-Pin for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Three-Pin for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Four-Pin for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Five-pin for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Power rate for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By High Power for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Medium Power for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Low Power for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By End User for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Residential for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Commercial for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Electric Plugs and Sockets Market Revenues & Volume By Industrial for the Period 2020-2030
• Saudi Arabia Electric Plugs and Sockets Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Power rate
• Market Opportunity Assessment By End User
• Saudi Arabia Electric Plugs and Sockets Top Companies Market Share
• Saudi Arabia Electric Plugs and Sockets Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Electric Plugs and Sockets Company Profiles
• Saudi Arabia Electric Plugs and Sockets Key Strategic Recommendations

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