
Saudi Arabia Electric Motor Market, By Motor Type (AC Motors, DC Motors); By Voltage Range (Low Voltage Electric Motors (Less than 1 kV), Medium Voltage Electric Motors (1 kV to 6.6 kV), High Voltage Electric Motors (Above 6.6 kV)); By Power Output (Fract
Description
Saudi Arabia Electric Motor Market, By Motor Type (AC Motors, DC Motors); By Voltage Range (Low Voltage Electric Motors (Less than 1 kV), Medium Voltage Electric Motors (1 kV to 6.6 kV), High Voltage Electric Motors (Above 6.6 kV)); By Power Output (Fractional Horsepower (FHP) Motors, Integral Horsepower (IHP) Motors); By Application (Industrial, Residential, Commercial, Agriculture); By End User (HVAC, Automotive, Manufacturing, Water & Wastewater Treatment, Construction), Trend Analysis, Competitive Landscape & Forecast, 2019–2031
Saudi Arabia Electric Motor Market Size to Touch USD 4.4 Billion by 2031
Saudi Arabia Electric Motor Market is booming primarily due to the rapid industrialization, expanding manufacturing sector, the thriving renewable energy sector's increasing reliance on electric motors, and an escalating demand for HVAC systems across both residential and commercial landscapes.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Electric Motor Market size by value at USD 2.7 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Saudi Arabia Electric Motor Market size to boom at a robust CAGR of 7.3% reaching a value of USD 4.4 billion by 2031. The growth of Electric Motor Market in Saudi Arabia is propelled by the rapid urbanization. Increasing disposable incomes are fostering a heightened demand for household appliances, such as washing machines, dishwashers, and microwaves. The Kingdom's tropical climate necessitates the widespread usage of air conditioning, which further spurs a demand for electric motors. Additionally, the gradual displacement of gas turbines by electric motors within industrial settings serves as another key growth driver for the market. The government’s supportive initiatives that promote industrial growth, combined with substantial investments in infrastructure development, are projected to further propel the market expansion. A growing emphasis on environmental sustainability, along with the expanding electric vehicle (EV) sector, is expected to boost the growth of Saudi Arabia Electric Motor Market in the coming years.
Opportunity - Rising Demand for Electric Vehicles (EVs)
The rising demand for electric vehicles (EVs) is expected to provide significant growth opportunities for companies in Saudi Arabia Electric Motor Market over the forecast period. With a vision to transition 30% of Riyadh’s vehicles to electric vehicles by 2030, the Kingdom is advancing its EV infrastructure and production capabilities through government-led initiatives and substantial investments. Key developments include the establishment of more than 5,000 charging points across 1,000 stations by 2030, spearheaded by the Electric Vehicle Infrastructure Company (EVIQ). Prominent manufacturers like Lucid Motors and Ceer are bolstering local production. Lucid aims to produce more than 150,000 EVs annually at its complete manufacturing facility in King Abdullah Economic City (KAEC) and Ceer building a state-of-the-art EV manufacturing complex. The surge in EV production directly addresses the increasing demand for high-performance electric motors, which enhance vehicle efficiency, reduce emissions, and support sustainability goals. Moreover, the integration of renewable energy sources into EV infrastructure aligns with Saudi Arabia’s Vision 2030 objectives, emphasizing economic diversification and carbon neutrality. As global and local players collaborate to drive innovation in EV manufacturing, Saudi Arabia’s electric motor market is poised for rapid expansion, supported by the Kingdom’s commitment to sustainable mobility and technological advancement.
Industrial Application Segment Holds Largest Share of Electric Motor Market
The industrial segment accounts for the largest market share of Saudi Arabia Electric Motor Market by application. The segment’s market leadership position is driven by the nation's robust oil and gas sector, a cornerstone of Saudi Arabian economy. The sector necessitates substantial electric motor deployment across critical applications such as pumps, compressors, and drilling equipment. Furthermore, the Kingdom's burgeoning manufacturing sector, a key pillar of its economic diversification initiatives, exhibits a strong reliance on electric motors for powering conveyor systems, HVAC systems, and industrial machinery. The ongoing expansion of infrastructure, encompassing railways, airports, and burgeoning smart cities, further fuels demand for electric motors across construction equipment, elevators, and HVAC systems. Moreover, the petrochemical industry and water treatment plants, both of paramount importance within the Saudi landscape, exhibit substantial utilization of electric motors, reflecting their integral role in facilitating chemical processes, wastewater management, and mitigating water scarcity.
Impact of Escalating Geopolitical Tensions on Saudi Arabia Electric Motor Market
Intensifying geopolitical tensions, particularly in the Middle East, could have a multifaceted impact on Saudi Arabia Electric Motor Market. Heightened military tensions can disrupt critical supply chains, leading to price volatility for essential raw materials like copper, steel, and aluminum, thereby impacting production costs. Moreover, trade restrictions, sanctions, and fluctuating global energy prices exacerbate market uncertainties, potentially hindering manufacturing and distribution processes. Furthermore, geopolitical instability can delay the implementation of renewable energy projects and infrastructure developments, both of which are pivotal drivers of electric motor demand within the region. While the Saudi government actively pursues strategies to mitigate external risks through localized manufacturing initiatives, the market remains susceptible to geopolitical disruptions. These disruptions could impede its growth trajectory and potentially undermine the long-term objectives of economic diversification outlined in 'Vision 2030'.
Competitive Landscape
Saudi Arabia Electric Motor Market is highly fragmented, with numerous players serving the market. Major companies dominating the market include ABB Ltd, Siemens AG, WEG Industries, TECO Electric & Machinery, Nidec Corporation, Emerson Electric Co., Denso Corporation, Meem, Ashoor Electric Motors Co., and Atlas Copco. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Saudi Arabia Electric Motor Market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and Saudi Arabia Electric Motor Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Electric Motor Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
113 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Saudi Arabia Electric Motor Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing industrialization and manufacturing activities
- 3.2.1.2. Increasing adoption of electric motors in renewable energy projects
- 3.2.1.3. Rising demand for HVAC systems in residential and commercial buildings
- 3.2.2. Restraints
- 3.2.2.1. High initial costs of advanced electric motors
- 3.2.2.2. Challenges related to maintenance and skilled workforce availability
- 3.2.3. Opportunities
- 3.2.3.1. Investments in smart grid and smart city projects.
- 3.2.3.2. Rising demand for electric vehicles (EVs) in the region
- 3.2.4. Challenges
- 3.2.4.1. Fluctuations in raw material prices affecting production costs
- 3.2.4.2. Limited awareness among smaller businesses about energy-efficient motors
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Saudi Arabia Electric Motor Market: Marketing Strategies
- 5. Saudi Arabia Electric Motor Market Overview
- 5.1. Market Size & Forecast, 2019–2031
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Motor Type
- 5.2.1.1. AC Motors
- 5.2.1.2. DC Motors
- 5.2.2. By Voltage Range
- 5.2.2.1. Low Voltage Electric Motors (Less than 1 kV)
- 5.2.2.2. Medium Voltage Electric Motors (1 kV to 6.6 kV)
- 5.2.2.3. High Voltage Electric Motors (Above 6.6 kV)
- 5.2.3. By Power Output
- 5.2.3.1. Fractional Horsepower (FHP) Motors
- 5.2.3.2. Integral Horsepower (IHP) Motors
- 5.2.4. By Application
- 5.2.4.1. Industrial
- 5.2.4.2. Residential
- 5.2.4.3. Commercial
- 5.2.4.4. Agriculture
- 5.2.5. By End User
- 5.2.5.1. HVAC
- 5.2.5.2. Automotive
- 5.2.5.3. Manufacturing
- 5.2.5.4. Water and Wastewater Treatment
- 5.2.5.5. Construction
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. Saudi Arabia Electric Motor Company Market Share Analysis, 2024
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 7. Impact of Escalating Geopolitical Tensions on Saudi Arabia Electric Motor Market
- 8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 8.1. ABB Ltd
- 8.2. Siemens AG
- 8.3. WEG Industries
- 8.4. TECO Electric & Machinery
- 8.5. Nidec Corporation
- 8.6. Emerson Electric Co.
- 8.7. Denso Corporation
- 8.8. Meem
- 8.9. Ashoor Electric Motors Co.
- 8.10. Atlas Copco
- 8.11. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents
- 10.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 Saudi Arabia Electric Motor Segmentation
- Figure 2 Saudi Arabia Electric Motor Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2024
- Figure 4 Saudi Arabia Electric Motor Market Size, By Value (USD Billion), 2019–2031
- Figure 5 Saudi Arabia Electric Motor Market Share, By Motor Type, By Value (USD Billion), 2019–2031
- Figure 6 Saudi Arabia Electric Motor Market Share, By Voltage Range, By Value (USD Billion), 2019–2031
- Figure 7 Saudi Arabia Electric Motor Market Share, By Power Output, By Value (USD Billion), 2019–2031
- Figure 8 Saudi Arabia Electric Motor Market Share, By Application, By Value (USD Billion), 2019–2031
- Figure 9 Saudi Arabia Electric Motor Market Share, By End User, By Value (USD Billion), 2019–2031
- List of Tables
- Table 1 Saudi Arabia Electric Motor Market Size, By Value (USD Billion), 2019–2031
- Table 2 Saudi Arabia Electric Motor Market Size, By Motor Type, By Value (USD Billion), 2019–2031
- Table 3 Saudi Arabia Electric Motor Market Size, By Voltage Range, By Value (USD Billion), 2019–2031
- Table 4 Saudi Arabia Electric Motor Market Size, By Power Output, By Value (USD Billion), 2019–2031
- Table 5 Saudi Arabia Electric Motor Market Size, By Application, By Value (USD Billion), 2019–2031
- Table 6 Saudi Arabia Electric Motor Market Size, By End User, By Value (USD Billion), 2019–2031
- Table 7 ABB Ltd Company Overview
- Table 8 ABB Ltd Financial Overview
- Table 9 Siemens AG Company Overview
- Table 10 Siemens AG Financial Overview
- Table 11 WEG Industries Company Overview
- Table 12 WEG Industries Financial Overview
- Table 13 TECO Electric & Machinery Company Overview
- Table 14 TECO Electric & Machinery Financial Overview
- Table 15 Nidec Corporation Company Overview
- Table 16 Nidec Corporation Financial Overview
- Table 17 Emerson Electric Co. Company Overview
- Table 18 Emerson Electric Co. Financial Overview
- Table 19 Denso Corporation Company Overview
- Table 20 Denso Corporation Financial Overview
- Table 21 Meem Company Overview
- Table 22 Meem Financial Overview
- Table 23 Ashoor Electric Motors Co. Company Overview
- Table 24 Ashoor Electric Motors Co. Financial Overview
- Table 25 Atlas Copco Company Overview
- Table 26 Atlas Copco Financial Overview
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