Saudi Arabia Power Transformers Market

Saudi Arabia Power Transformers Market Overview

Power transformer is an electric equipment used to transfer power from one phase to another through electromagnetic induction between coils convert voltage. Power transformers include a wide range of electrical transformers, such as control transformer, distribution transformer, current transformer, autotransformer, voltage transformer, general-purpose transformer, and isolation transformer. Power transformers provide the system with several AC supplies of different voltages and appropriate standards of current from the high voltage public electricity supply. Power transformers are created to abide by the regulatory policies from main power interfacing, primary voltages, and working at high voltages.

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Major Saudi Arabia Power Transformers Market Drivers

The demand for energy production has increased due to rapid industrialization and the growing population in Saudi Arabia, which plays a significant role in surging the growth of the Saudi Arabia power transformers market. The increasing demand for energy production has further grown the necessity to expand transmission & distribution activities. The government is investing in the transmission & distribution projects in Saudi Arabia. The ‘Saudi Arabia Vision 2030’ and Economic Diversification Policy are the initiatives taken by the government of Saudi Arabia to increase construction activities, establish industries, and bolster infrastructure development. These activities require the expansion of transmission & distribution capabilities, which is likely to propel the growth of the power transformers market in Saudi Arabia.

Moreover, the government of Saudi Arabia is integrating renewable energy into its current power grid, which needs interconnection of existing and new power transmission lines. The Saudi Arabian government has launched several projects to install smart grid technology. It reduces carbon emission and improves energy efficiency to produce and use electricity at business complexes, public institutions, and households. These new projects are expected to drive the growth of the power transformers market in Saudi Arabia.

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Based on rating, the market is segmented into a small power transformer, medium power transformer, large power transformer. The small power transformer segment is expected to grow at a higher CAGR over the forecast period. The small power transmission has its usage in several applications as it can be easily customized according to the requirement of customers. These features are growing the adoption of these transformers, which will further increase the growth of the small power transformer segment in the Saudi Arabia power transformer market.

Based on cooling method, the market is segmented into oil-cooled and air-cooled. The oil-cooled segment is anticipated to witness a faster CAGR over the forecast period. The increase in the adoption of oil-cooled transformers due to the property of these transformers to deal with high voltage applications, which is a significant factor that is surging the demand of the segment. Oil-cooled transformers are safer to use in high voltage conditions as compared to air-cooled transformers. The government is taking initiatives to expand the transmission & distribution activities, which include a high voltage network. These factors play a significant role in driving the growth of this segment in the Saudi Arabia power transformers market.

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Key Developments:

• • In 2020, Hyundai Heavy Industries Co. received an order of $28.6 Million from Saudi Electricity Co. and Saudi Aramco, Saudi Arabia’s state oil company, to provide gas-insulated switchgear and power transformers to the Saudi Utilities.

 The Saudi Arabia power transformers market has been segmented on the basis of rating and cooling method. Based on rating, the market is segmented small power transformer, medium power transformer, large power transformer. Based on cooling method, the market is segmented into oil-cooled and air-cooled.

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Market Segmentation:

Saudi Arabia Power Transformers Market by Rating

• • Small Power Transformer (Up to 60MVA)
  • Medium Power Transformer (61 – 600MVA)
  • Large Power Transformer (Above 600MVA)

Saudi Arabia Power Transformers Market by Cooling Method

• • Oil-Cooled
  • Air-Cooled