Saudi Arabia Electric Motor Market 2021 Analysis by Global Manufacturers - ABB, Siemens, WEG Industries, NIDEC Corporation
The “Saudi Arabia Electric Motor” Market report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Saudi Arabia Electric Motor Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Saudi Arabia Electric Motor Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization.
The Saudi Arabia Electric Motor Market is expected to grow at a CAGR of 7.1% during forecast period (2021-2027).
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Top Key Players in the Global Saudi Arabia Electric Motor Market are ABB, Siemens, WEG Industries, NIDEC Corporation and TECO Middle East Electrical & Machinery Co. Ltd., and others.
Electric motors are electro-mechanical devices which convert electrical energy to mechanical energy. These motors are integral components of compressors, pumps, fans, disk drives, electric cars, etc. which are further used in the manufacturing, residential, real estate and commercial sectors. Upcoming projects in Saudi Arabia are increasing the demand for electric motors as they are highly efficient, consume low energy, and have a longer operating life and endurance for fluctuating voltages.
Electric motors are used as a component in the production of pumps, fans and compressors which are further used in HVAC systems. Due to extreme climatic conditions in the country, the demand for HVAC systems is rising, thereby propelling the growth of the electric motors market. Further, government policies to support the establishment of new industries have resulted in the growth of industrial and infrastructural activities, in turn, contributing to the market growth. Moreover, large-scale investments in the construction activities along with upcoming projects such as NEOM and Saudi Vision 2030 are rising energy requirements, therefore creating a bigger market for electric motors. Looking forward, IMARC Group expects the Saudi Arabia electric motor market to exhibit strong growth during the next five years.
The report has segmented the market on the basis of efficiency in IE1, IE2, IE3 and IE4. Amongst these, IE2 efficiency motors dominate the market, accounting for the majority of the total share. On the basis of application, the HVAC sector is the largest segment, followed by oil and gas, food and beverage, mining, and water and utilities. The market is also segmented on the basis of end-use, wherein pumps and fans represent the leading market, followed by compressors. An analysis of the competitive landscape provides the details of the key players operative in the market.
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Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Saudi Arabia Electric Motor Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Frequently Asked Questions about Saudi Arabia Electric Motor market:
– Who are the key players operating in the Saudi Arabia Electric Motor market?
– Which is the leading segment in the market?
– At What CAGR is the market projected to grow in the forecast period (2021-2027)?
– What is the key factor driving the market?
– Which data rates would lead the market during the forecast period?
– Which region is expected to dominate the Saudi Arabia Electric Motor market in the next five years?
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