Key Insights
The Saudi Arabian industrial electrical components market is poised for significant expansion, driven by substantial investments in infrastructure, particularly within the power utility and oil & gas sectors. The nation's Vision 2030 initiative, prioritizing economic diversification and infrastructure modernization, is a primary catalyst. This strategic plan mandates extensive upgrades to existing electrical grids and the development of new power generation facilities, consequently increasing demand for switchgears, transformers, electric motors, and related automation components. The rapidly growing LED lighting sector, spurred by government-led energy efficiency initiatives, further contributes to market growth. While global economic volatility and international competition pose potential challenges, the long-term market outlook remains positive, underpinned by consistent government expenditure and a commitment to sustainable energy solutions. Market segmentation highlights the dominance of power utilities and oil & gas sectors due to their high energy consumption and infrastructure requirements. Key component segments include switchgears, transformers, and automation systems (feeder and substation automation), underscoring the need for advanced technologies for managing complex power grids. The projected robust growth over the next decade presents substantial opportunities for both local entities such as TIEPCO, Saudi Power Transformer Company, and Al-Abdulkarim Holding, and international corporations. Regional market activity is expected to align with population density and industrial concentration, with the central and eastern regions likely commanding larger market shares due to the presence of major urban centers and industrial hubs.
Saudi Arabia Industrial Electrical Components Industry Market Size (In Billion)
The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.7%. With an estimated market size of $1.81 billion in the 2023 base year, this growth trajectory will be shaped by fluctuating oil prices, evolving government energy efficiency policies, and technological advancements. The market's resilience against global economic uncertainties will depend on the steadfastness of Saudi Arabia's long-term strategic objectives and its sustained investment in industrial infrastructure. Detailed segmentation by market segment and region is recommended for a more granular understanding of growth drivers and opportunities.
Saudi Arabia Industrial Electrical Components Industry Company Market Share
Saudi Arabia Industrial Electrical Components Industry: A Comprehensive Market Report (2019-2033)
This comprehensive report provides a detailed analysis of the Saudi Arabia industrial electrical components industry, covering market size, growth drivers, competitive landscape, and future outlook. The study period spans from 2019 to 2033, with 2025 serving as the base and estimated year. The report offers actionable insights for industry stakeholders, including manufacturers, suppliers, investors, and government agencies.
Saudi Arabia Industrial Electrical Components Industry Market Concentration & Innovation
This section analyzes the market concentration, innovation drivers, regulatory frameworks, product substitutes, end-user trends, and M&A activities within the Saudi Arabia industrial electrical components industry. The Saudi Arabian market exhibits a moderately concentrated structure, with a few major players holding significant market share. For example, TIEPCO and Saudi Power Transformer Company are estimated to hold a combined xx% market share in 2025, while other significant players like Al-Abdulkarim Holding (AKH) Co and Electrical Industries Company (EIC) contribute substantially to the overall market size. However, the presence of numerous smaller players indicates a competitive landscape.
Innovation Drivers: The industry's innovation is largely driven by the Kingdom's Vision 2030, emphasizing diversification and technological advancement. Demand for smart grid technologies, renewable energy integration, and increased automation are key factors fostering innovation.
Regulatory Frameworks: Stringent safety and quality standards enforced by relevant Saudi authorities influence component selection and manufacturing processes. These regulations create both challenges and opportunities for industry players.
Product Substitutes: The availability of alternative technologies, such as smart sensors and IoT-enabled devices, is influencing component choices. These substitutions often lead to increased efficiency and cost-effectiveness.
End-User Trends: The increasing adoption of advanced technologies by end-users like Power Utility, Oil & Gas, and Infrastructure sectors drives demand for sophisticated, high-performance components. Furthermore, sustainability concerns influence preferences towards energy-efficient products like LED lighting.
M&A Activities: Recent years have witnessed a moderate level of M&A activity, with deal values totaling approximately xx Million in the period 2019-2024. These acquisitions largely focused on enhancing market share and expanding product portfolios.
Saudi Arabia Industrial Electrical Components Industry Industry Trends & Insights
The Saudi Arabia industrial electrical components market is experiencing robust growth, driven by several key factors. The country’s ambitious Vision 2030 plan, focused on economic diversification and infrastructure development, is a significant catalyst. Massive investments in power generation, transmission, and distribution infrastructure, along with the expansion of the oil and gas sector and ongoing construction projects, fuel the demand for electrical components.
Technological advancements, such as the increasing adoption of smart grid technologies and automation systems, are further driving market growth. The shift towards renewable energy sources, coupled with government initiatives to promote energy efficiency, is also creating significant opportunities for manufacturers of energy-efficient components like LED lighting.
The market's competitive landscape is dynamic, with both domestic and international players vying for market share. Price competitiveness, product innovation, and strong distribution networks are key success factors. The Compound Annual Growth Rate (CAGR) for the market is projected to be xx% during the forecast period (2025-2033), indicating substantial growth potential. Market penetration of advanced technologies like smart grid solutions is expected to increase significantly, from xx% in 2025 to xx% by 2033.
Dominant Markets & Segments in Saudi Arabia Industrial Electrical Components Industry
The Power Utility sector represents the largest segment in the Saudi Arabian industrial electrical components market, accounting for an estimated xx% of the total market value in 2025. This dominance stems from the Kingdom's extensive power generation and transmission network and continuous investment in grid modernization. The Oil and Gas sector follows closely, driven by its significant energy infrastructure and operational requirements. The Infrastructure sector also plays a vital role, fueled by ongoing construction and development activities across the country.
Key Drivers for Power Utility Dominance:
- Massive investments in power generation and transmission infrastructure.
- Government initiatives to enhance grid reliability and efficiency.
- Growing demand for smart grid technologies.
Component-wise: Switchgears and Transformers constitute the largest component segments, collectively accounting for approximately xx% of the market in 2025. The demand for these components is driven by the expansion of power generation and transmission capacity, alongside the ongoing modernization of the existing infrastructure. Growth in other segments like Monitoring and Controlling Devices, and Automation systems is substantial, fueled by the increasing adoption of advanced technologies to improve grid management and operational efficiency.
Saudi Arabia Industrial Electrical Components Industry Product Developments
Recent product developments in the Saudi Arabian industrial electrical components market are largely focused on enhancing efficiency, reliability, and safety. Smart sensors, IoT-enabled devices, and advanced automation systems are gaining traction, allowing for improved grid monitoring, predictive maintenance, and enhanced energy management. Manufacturers are also concentrating on developing energy-efficient components to meet sustainability goals and comply with regulatory requirements. These innovations are improving overall efficiency and safety across various industrial applications, thus driving market adoption.
Report Scope & Segmentation Analysis
This report segments the Saudi Arabia industrial electrical components market based on both end-user and component type.
End-User Segments:
- Power Utility: This segment is projected to witness significant growth, driven by investments in grid modernization and renewable energy integration.
- Oil and Gas: This sector requires robust and reliable components due to its demanding operational conditions.
- Infrastructure Sector: Growth in this segment is linked to ongoing construction projects and infrastructure development across the country.
Component Segments:
- Switchgears: High demand is projected due to grid expansion and modernization efforts.
- Transformers: The need for reliable power transmission fuels the high demand.
- Electric Motors and Starters: Essential for various industrial applications and witnessing stable growth.
- Monitoring and Controlling Devices: Increasing adoption of smart grid technologies drives this segment.
- Automation: Investment in automation technologies contributes to the steady growth of this segment.
- LED Lighting: The government's focus on energy efficiency promotes this segment’s growth.
- Other Components: This category includes diverse components with varied growth potentials based on specific application needs.
Key Drivers of Saudi Arabia Industrial Electrical Components Industry Growth
Several key factors fuel the growth of the Saudi Arabia industrial electrical components industry. Firstly, the Kingdom's Vision 2030 initiative has spurred massive investments in infrastructure development, leading to heightened demand for electrical components across various sectors. Secondly, the increasing adoption of smart grid technologies and automation systems in the power sector is a significant growth driver. Lastly, government regulations promoting energy efficiency and renewable energy adoption have created a favorable environment for manufacturers of energy-efficient components.
Challenges in the Saudi Arabia Industrial Electrical Components Industry Sector
The Saudi Arabian industrial electrical components industry faces certain challenges. The fluctuating oil prices directly impact overall economic activity and investments in infrastructure projects. Supply chain disruptions can affect the availability and cost of raw materials. Moreover, intense competition from both domestic and international players puts pressure on profit margins. The need for skilled labor and the development of local talent are also important considerations for manufacturers operating in the region.
Emerging Opportunities in Saudi Arabia Industrial Electrical Components Industry
Several emerging opportunities exist for the Saudi Arabia industrial electrical components industry. The growing adoption of renewable energy sources, such as solar and wind power, offers new avenues for manufacturers of associated components. Smart city initiatives and the increasing focus on digitalization also create significant potential for suppliers of IoT-enabled devices and automation systems. The expansion of the telecommunications infrastructure, including 5G network rollout, also creates opportunities in specialized connector and transmission components.
Leading Players in the Saudi Arabia Industrial Electrical Components Industry Market
- TIEPCO
- Saudi Power Transformer Company
- Al-Abdulkarim Holding (AKH) Co
- Electrical Industries Company (EIC)
- GEDAC Electric Company
- Saudi Electric Supply Company Limited (SESCO)
Key Developments in Saudi Arabia Industrial Electrical Components Industry Industry
- August 2021: Larsen & Toubro secures a turnkey order for a power substation construction project, encompassing gas insulated switchgear (GIS) and associated systems, highlighting the demand for advanced substation components.
- February 2020: R&S Rauscher & Stoecklin receives an order for industrial plugs and sockets for a 5G telecommunication project, indicating growth in this niche component segment.
Strategic Outlook for Saudi Arabia Industrial Electrical Components Industry Market
The Saudi Arabia industrial electrical components market is poised for robust growth in the coming years, driven by ongoing infrastructure development, the adoption of smart technologies, and the increasing focus on energy efficiency and renewable energy. The successful implementation of Vision 2030 and continued investments in power infrastructure will significantly impact the industry's future growth trajectory, providing lucrative opportunities for both domestic and international players. Strategic partnerships, technological innovation, and localization strategies are essential for achieving sustained success in this dynamic market.
Saudi Arabia Industrial Electrical Components Industry Segmentation
-
1. End-User
- 1.1. Power Utility
- 1.2. Oil and Gas
- 1.3. Infrastructure Sector
-
2. Component
- 2.1. Switchgears
- 2.2. Transformers
- 2.3. Electric Motors and Starters
- 2.4. Monitoring and Controlling Devices
- 2.5. Automative
- 2.6. LED Lighting
- 2.7. Others
Saudi Arabia Industrial Electrical Components Industry Segmentation By Geography
- 1. Saudi Arabia
Saudi Arabia Industrial Electrical Components Industry Regional Market Share
Geographic Coverage of Saudi Arabia Industrial Electrical Components Industry
Saudi Arabia Industrial Electrical Components Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 11.7% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Improved Viability Of Offshore Oil And Gas Projects
- 3.3. Market Restrains
- 3.3.1. Ban On Offshore Exploration And Production Activities In Multiple Regions
- 3.4. Market Trends
- 3.4.1. Electric Motors and Starters Segment Expected to Dominate the Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Saudi Arabia Industrial Electrical Components Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by End-User
- 5.1.1. Power Utility
- 5.1.2. Oil and Gas
- 5.1.3. Infrastructure Sector
- 5.2. Market Analysis, Insights and Forecast - by Component
- 5.2.1. Switchgears
- 5.2.2. Transformers
- 5.2.3. Electric Motors and Starters
- 5.2.4. Monitoring and Controlling Devices
- 5.2.5. Automative
- 5.2.6. LED Lighting
- 5.2.7. Others
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Saudi Arabia
- 5.1. Market Analysis, Insights and Forecast - by End-User
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- 6.2. Company Profiles
- 6.2.1 TIEPCO
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Saudi Power Transformer Company
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Al-Abdulkarim Holding (AKH) Co
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 Electrical Industries Company (EIC)*List Not Exhaustive
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 GEDAC Electric Company
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Saudi Electric Supply Company Limited (SESCO)
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.1 TIEPCO
List of Figures
- Figure 1: Saudi Arabia Industrial Electrical Components Industry Revenue Breakdown (billion, %) by Product 2025 & 2033
- Figure 2: Saudi Arabia Industrial Electrical Components Industry Share (%) by Company 2025
List of Tables
- Table 1: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by End-User 2020 & 2033
- Table 2: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by Component 2020 & 2033
- Table 3: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by Region 2020 & 2033
- Table 4: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by End-User 2020 & 2033
- Table 5: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by Component 2020 & 2033
- Table 6: Saudi Arabia Industrial Electrical Components Industry Revenue billion Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Saudi Arabia Industrial Electrical Components Industry?
The projected CAGR is approximately 11.7%.
2. Which companies are prominent players in the Saudi Arabia Industrial Electrical Components Industry?
Key companies in the market include TIEPCO, Saudi Power Transformer Company, Al-Abdulkarim Holding (AKH) Co, Electrical Industries Company (EIC)*List Not Exhaustive, GEDAC Electric Company, Saudi Electric Supply Company Limited (SESCO).
3. What are the main segments of the Saudi Arabia Industrial Electrical Components Industry?
The market segments include End-User, Component.
4. Can you provide details about the market size?
The market size is estimated to be USD 1.81 billion as of 2022.
5. What are some drivers contributing to market growth?
Improved Viability Of Offshore Oil And Gas Projects.
6. What are the notable trends driving market growth?
Electric Motors and Starters Segment Expected to Dominate the Market.
7. Are there any restraints impacting market growth?
Ban On Offshore Exploration And Production Activities In Multiple Regions.
8. Can you provide examples of recent developments in the market?
In August 2021, Larsen & Toubro has bagged a turnkey order for construction of a power substation in Saudi Arabia. The company stated that the scope of the gas insulated switchgear (GIS) substation involves four different voltages up to 380 kV. The scope of works entails associated control, protection, automation, telecommunication systems, apart from civil and electromechanical works. The order will be executed by the power transmission and distribution business of L&T Construction - the construction-related arm of Larsen & Toubro Ltd.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in billion.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Saudi Arabia Industrial Electrical Components Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Saudi Arabia Industrial Electrical Components Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Saudi Arabia Industrial Electrical Components Industry?
To stay informed about further developments, trends, and reports in the Saudi Arabia Industrial Electrical Components Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence