Saudi Arabia Power Capacitors Market is predicted to increase at a significant CAGR during 2020-2027 | Size & Forecast

Saudi Arabia Power Capacitors Market

The Saudi Arabia Power Capacitors Market is expected to grow at a faster CAGR over the forecast period (2020-2027).

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The factors driving growth of the Saudi Arabia Power Capacitors Market includes increasing number of smart cities across Saudi Arabia, growing emphasis on using renewable sources of energy, rising consumption of electricity and improvements in the living standards. As per the data available at World Bank, the electric power consumption (kWh per capita) across Saudi Arabia has increased from 8,503 kWh per capita in 2012 to 9,401 kWh per capita in 2014, which will accelerate the Saudi Arabia Power Capacitors Market size in the approaching years. Moreover, increasing demand for power capacitor across end-use industries such as Oil and Gas, Telecommunication and Power, technological advancements in power capacitors, expansion of grid infrastructure and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic alliances between companies, rise in Government's expenditure on solar and wind energy projects and growing population growth rates, are further contributing towards the market growth.

However, growth of the market is hindered attributed to high cost of procuring power capacitors.  

The major players operating in the Saudi Arabia Power Capacitors Market are WAHAH Electric Supply Co. of Saudi Arabia Ltd., Rakan Electronics, Saudi Electric Supply Company (SESCO), ABB Saudi Arabia, Eaton Corporation Middle East, Electro Power Systems, Illinois Capacitor HK, Ltd., and General Electric Saudi Arabia among others.

Based on Product, the Film Capacitors segment is projected to grow at a significant CAGR during the forecast period

Film capacitors are reliable under adverse environmental conditions, provides stability, increasingly used in electronics & digital products and are cost-effective, are some of the factors propelling growth of the segment.

Based on Application, the Energy & Power segment is anticipated to expand at a remarkable CAGR over the forecast period

Increasing consumption of electricity across Saudi Arabia, rise in the number of mega projects, growing focus on transmitting and distributing electricity efficiently and rapid industrialization, are some of the important factors augmenting the segment's growth.

Market Segmentation

Segmentation by Product

Paper Dielectric Capacitors
Ceramic Capacitors
Film Capacitors
Other

Segmentation by Voltage

Low Voltage
Medium Voltage
Hight Voltage

Segmentation by Application

Energy & Power
Commercial
Industrial
Telecommunication
Construction
Others

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