Saudi Arabia Low Voltage Switchgear Market

Saudi Arabia Low Voltage Switchgear Market size is estimated to increase till 2030 due to the rising investment for the infrastructural development in the country. Low voltage switchgear are used to limit electric breakdown and reduce delayed consequences of deficiency flows that move through the circuit.

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Saudi Arabia Low Voltage Switchgear Market Trends and Drivers

Saudi Arabia low voltage switchgear market is driven by expansion in the building activities along with the installation of renewable energy sources. Increasing demand for electrification along with the growing demand for secure and reliable power distribution networks will stimulate the market growth. Moreover, government initiatives to reduce reliance on the oil sector, invest heavily on infrastructural construction like hotels, stadiums, offices, and recreational facilities, and strengthen public service sectors like education, recreation, tourism, and health is creating new opportunities for low voltage switchgear market in KSA. Low voltage such as Switches and fuses, oil-filled circuit breakers, distribution boards, residual current devices, among others. Infrastructure development in the commercial and industrial sectors are anticipated to boost the low voltage switchgear market. Increasing measures to ensure stability and safety coupled with the current development of electric infrastructure spending across power grid application is driving the market growth.

Low voltage switchgear market in Saudi Arabia is anticipated to grow due to the rising trend toward the generation of electricity from renewable sources of energy. Expansion of smart grid technology and ongoing investments in transmission and distribution system upgrades is further propelling the market growth. Rapid urbanization and industrialisation is predicted to contribute to market expansion. Additionally, the deployment of performance-based incentive programs is anticipated to present a chance for participants in KSA low voltage switchgear market. The need for low voltage switchgears is continuously increasing as a result of development initiatives in the hotel, stadium, airport, and rail sectors. However, increasing cost constraint may restraint the market growth during the forecast period.

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Based on application, the commercial segment is expected to grow at the fastest rate.

Governments initiative to strengthen the non-oil sector is expected to witness the highest growth in the upcoming years. Diversification of the economy across utilities and commercial sectors such as hotels, resorts, museums, hospitals and tourism related infrastructure are the other factors expected to increase the demand in the commercial segment. Besides, the commercial and industrial creates a huge opportunity for market growth due to higher adoption of low voltage switchgear over conventional.

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Top Market Players

Various notable players operating in the market, include First AL Fanar Company Ltd., ABB Ltd., General Electric Company, Hitachi Ltd., Hyundai Heavy Industries Co., LTD., Hyosung Corporation, Larsen & Toubro, Schneider Electric SE, Siemens AG, among others.

Segments covered in the Report:

The Saudi Arabia Low Voltage Switchgear Market has been segmented on the basis of application, installation, product type and voltage rating. Based on application, the market has been segmented into Distribution, Utility, Substation. Based on Installation, the market has been segmented into Outdoor, Indoor. Based on Product Type, the market has been segmented into Fixed Mounting, Plug-In, and Withdrawable Unit. Based on Voltage Rating, the market has been segmented into Less Than 250 V, 250 V – 750 V, and 750 V – 1000 V.

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Market Segmentation

Saudi Arabia Low Voltage Switchgear Market by Application

• • Distribution
  • Utility
  • Substation

Saudi Arabia Low Voltage Switchgear Market by Installation

• • Outdoor
  • Indoor

Saudi Arabia Low Voltage Switchgear Market by Product Type

• • Fixed Mounting
  • Plug-In
  • Withdrawable Unit

Saudi Arabia Low Voltage Switchgear Market by Voltage Rating

• • Less Than 250 V
  • 250 V – 750 V
  • 750 V – 1000 V

Saudi Arabia Low Voltage Switchgear Market Leading market players (Option: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AL Fanar Company Ltd.
  • ABB Ltd.
  • General Electric Company
  • Hitachi Ltd.
  • Hyundai Heavy Industries Co., LTD.
  • Hyosung Corporation
  • Larsen & Toubro
  • Schneider Electric SE
  • Siemens AG