BURNABY, Canada, February 15, 2016 /PRNewswire/ --
Surging demand from end user industries such as manufacturing, commercial and residential segments to propel Saudi Arabia electric motors market through 2021
According to TechSci Research report "Saudi Arabia Electric Motors Market By Type, By End User, By Application, By Rating, Competition Forecast & Opportunities,
2011 - 2021", the electric motors market in Saudi Arabia is projected to grow at a CAGR of 8% during 2016 - 2021, on account of increasing industrialization, booming infrastructural growth, increasing power generation and rising energy requirements in the country. Growth in number of power plants and oil rigs, coupled with rapid commercialization and urbanization are also boosting demand for electric motors in the Kingdom. Residential, manufacturing, commercial and real estate sectors are the major end users for electric motors industry in Saudi Arabia.
Saudi Arabia electric motors market is dominated by AC based electric motors as these are widely used in various applications such as pumps, compressors, fans, etc. Few of the leading companies operating in Saudi Arabia electric motors market include ABB (including Baldor), Siemens, TECO Middle East, WEG, and Crompton Greaves, among others. Electric motor refurbishment / repair services market is also witnessing growth as electric motors are being extensively employed for various applications in diverse sectors such as oil & gas, petrochemical & refining, commercial and power plants. Leading refurbishment / repair service companies operating in the Kingdom include Alfanar Electrical Systems LLC, Saudi French Company and Ashoor Electric Motors Factory.
"Saudi Arabia electric motors market is forecast to grow in the coming years due to increasing demand from end user segments, rising demand for energy efficient electric motors to reduce carbon emissions, coupled with rapid industrialization in the country. Increasing power consumption, rising number of power plants and growing utilization of electric motors in various applications is anticipated to boost demand for electric motors in the country through 2021.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Electric Motors Market in Saudi Arabia By Type, By End User, By Application, By Rating, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of electric motor market across Saudi Arabia and provide statistics and information on market structure, size and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Saudi Arabia electric motors market.
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