Saudi Arabia Low Voltage Electric Motor Market Report and Forecast 2024-2032

Saudi Arabia Low Voltage Electric Motor Market Outlook

The Saudi Arabia low voltage electric motor market is aided by the growth of the overall electric motor market is the country, which reached a value of around USD 638.62 million in 2023 and is expected to grow at a CAGR of 8.90% over the forecast period of 2024-2032. The Saudi Arabia electric motor market is further expected to attain a value of around USD 1,376.42 million by 2032.

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The market is being driven by the rapid urbanisation and growing industrialisation within the region. Ongoing and upcoming projects in the region, which include the development of megacities and improvement of infrastructure, among others, are driving the product demand owing to its highly efficient nature.

The HVAC segment, among other applications, dominates the industry, followed by oil and gas, food and beverage, mining, and water and utilities. The Saudi Arabia low voltage electric motor market report also highlights that the pumps and fans segment, among other end-use sectors, leads the industry, followed by compressors. The growing government investment in the region is expected to drive the industry growth over the forecast period.

Properties and Applications

Low voltage electric motor is an electro-mechanical device utilised for converting electrical energy into mechanical energy. These motors can be found in many electronic parts, forming an integral component of devices including compressors, pumps, fans, disk drives, electric cars, and others, which are further used in the manufacturing, residential, real estate, and commercial sectors.

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Based on efficiency, the market is divided into the following segments:

• Standard Efficiency 
• High Efficiency 
• Premium Efficiency 
• Super Premium Efficiency

On the basis of application, the industry is segmented into:

• HVAC
• Oil and Gas
• Food, Beverage, and Tobacco
• Mining
• Water and Utilities
• Others

On the basis of end uses, the industry is further categorised into:

• Pumps and Fans
• Compressors
• Others

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Market Analysis

The low voltage electric motor market in Saudi Arabia is being driven by the growing economy and increased construction activities within the region. The upcoming projects like NEOM and Saudi Vision 2030 are leading to increased energy requirements within the region, thus, propelling the industry growth. The demand for low voltage electric motor is growing as it consumes low energy and offers a longer operating life with improved endurance for fluctuating voltages. The growing awareness regarding the energy wastage in the region is leading to the adoption of energy-efficient products, which is aiding the industry growth.

As electric motors are used as a component in pumps, fans, and others, which are further utilised in HVAC systems, the growing demand for HVAC will provide a boost to the industry. The increasing preference of HVAC is the result of extreme climatic conditions in the region, thereby propelling the growth of the electric motors market. Increased government expenditure and new policies to support the establishment of new industries are leading to the development of industrial and infrastructural activities, thus, contributing to the market growth in Saudi Arabia. The rapid advancement in technology and its rising acceptance in the region are expected to further aid the industry growth over the forecast period.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The comprehensive report covers the macro and micro aspects of the market, along with providing an overview of the global and GCC markets.

Key Highlights of the Report