GCC Electrical Services Market Analysis and Forecast, 2023-2028

The GCC electrical services market was estimated at a market value of US$ 190 million in 2022 and is expected to grow at a significant CAGR of over 6.4% over the forecast period of 2023-2028.

Regulations and standards have been put in place by governments throughout the GCC region to encourage sustainability and energy efficiency. The adoption of energy-efficient electrical systems and technology, such as LED lighting, energy management systems, and effective HVAC solutions, is encouraged by these rules, which is driving the market for electrical services.

Market Scope and Report Overview

According to a deep-dive market assessment by RationalStat, the GCC electrical services market has been analyzed on the basis of market segments, including type, application, end user and geography/regions (incl. Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.

Market intelligence for the GCC electrical services market covers market sizes on the basis of market value (US$/EUR Million) and volume ('000 units/tons/liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

In addition, the long-term sector and products/services 10-year outlook and its implications on the GCC electrical services market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

Period Covered include data for 2019-2028 along with year-wise demand estimations

The electrical services market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.

RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.

The GCC electrical services market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.

In the competition analysis section, the GCC electrical services market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.

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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment

In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.

The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.

In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia's war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.

Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the GCC electrical services market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the GCC electrical services market include,
• In December 2022, Eaton Corporation acquired Cooper Power Systems, a leading provider of electrical distribution and control products in the GCC.
• In November 2022, Legrand collaborated with GE Power to develop a new line of smart metering solutions for the GCC market.

Some of the prominent players that contribute significantly to the electrical services market growth include Qatar Power Construction WLL, EMCO Qatar, Midmac Contracting Company W.L.L., Siemens, ABB Group, Eaton Corporation plc, Arabian Bemco Contracting Co. Ltd., Saudi Electricity Company, Voltamp Energy SAOG, Tamimi Energy Holding Company, Saudi Aramco Power Company (SAPCO), Nesma Co., and Schneider Electric, among others.

RationalStat has segmented the GCC electrical services market based on type, application, end users and region
• GCC Electrical Services Market Value (US$ Million), Volume ('000 units/tons), and Market Share (2023-2028) Analysis by Type
o Design & Construction
o Installations & Commissioning
o Upgradation & Maintenance
• GCC Electrical Services Market Value (US$ Million), Volume ('000 units/tons), and Market Share (2023-2028) Analysis by Application
o Lighting
o Power Station
o Sub Station
o Transmission system
• GCC Electrical Services Market Value (US$ Million), Volume ('000 units/tons), and Market Share (2023-2028) Analysis by End Users
o Residential
o Commercial
o Industrial
o Infrastructure
• GCC Electrical Services Market Value (US$ Million), Volume ('000 units/tons), and Market Share (2023-2028) Analysis by Region
o GCC Electrical Services Market
 Bahrain
 Kuwait
 Oman
 Qatar
 Saudi Arabia
 United Arab Emirates
 Rest of GCC

• Leading Companies and Market Players
o Qatar Power Construction WLL
o EMCO Qatar
o Midmac Contracting Company W.L.L.
o Siemens
o ABB Group
o Eaton Corporation plc
o Arabian Bemco Contracting Co. Ltd.
o Saudi Electricity Company
o Voltamp Energy SAOG
o Tamimi Energy Holding Company
o Saudi Aramco Power Company (SAPCO)
o Nesma Co.
o Schneider Electric

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Key Questions Answered in the Electrical Services Report:
• What will be the market value of the GCC electrical services market by 2028?
• What is the market size of the GCC electrical services market?
• What are the market drivers of the GCC electrical services market?
• What are the key trends in the GCC electrical services market?
• Which is the leading region in the GCC electrical services market?
• What are the major companies operating in the GCC electrical services market?
• What are the market shares by key segments in the GCC electrical services market?

Some Related reports:
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https://store.rationalstat.com/store/saudi-arabia-electrical-services-market/
https://store.rationalstat.com/store/uae-electrical-services-market/

Kimberly Shaw,
Content and Press Manager
RationalStat LLC
sales@rationalstat.com
Phone: +1 302 803 5429

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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