The Saudi Arabia electrical services market was estimated at a considerable market value in 2022 and is expected to grow at a significant CAGR of over 6% over the forecast period of 2023-2028.
The need for electrical services is expected to increase because they are necessary for the current and future infrastructure for it to function. The demand for power and electrical services has increased due to Saudi Arabia’s expanding population and fast urbanization. Saudi Arabia electrical services market is developing due to the expanding residential and commercial sectors’ demand for dependable electrical infrastructure to serve their energy requirements.
Market Scope and Report Overview
According to a deep-dive market assessment by RationalStat, the Saudi Arabia electrical services market has been analyzed on the basis of market segments, including type, application, end user and geography/regions (incl. Al-Bahah, Sakakah, Buraidah, Abha, Dammam, Ha’il, Jizan, Medina, Mecca, Najran, Ar’ar, Riyadh, Tabuk). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the Saudi Arabia electrical services market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units/tons/liters) by various products/services/ equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the sector. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Saudi Arabia electrical services market include,
- In March 2023, Al-Faisal Contracting Company acquired National Electric Company, a leading provider of electrical services in Saudi Arabia.
- In February 2023, Siemens partnered with Saudi Electricity Company to develop a new line of smart grid solutions for the Saudi Arabian market.
- In January 2023, ABB launched a new line of energy-efficient lighting solutions for the Saudi Arabian market.
Some of the prominent players that contribute significantly to the electrical services market growth include Arabian Bemco Contracting Co. Ltd., alfanar Group, Saudi Electricity Company, Voltamp Energy SAOG, Tamimi Energy Holding Company, Eaton, Saudi Aramco Power Company (SAPCO), Nesma Co., Schneider Electric Siemens, MT ENTERPRISES, Rawabi Electric, AQESA among others.
RationalStat has segmented the Saudi Arabia electrical services market based on type, application, end users and region
- Saudi Arabia Electrical Services Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Type
- Design & Construction
- Installations & Commissioning
- Upgradation & Maintenance
- Saudi Arabia Electrical Services Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Application
- Lighting
- Power Station
- Sub Station
- Transmission system
- Saudi Arabia Electrical Services Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by End Users
- Residential
- Commercial
- Industrial
- Infrastructure
- Saudi Arabia Electrical Services Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Region
- Saudi Arabia Electrical Services Market
- Al-Bahah
- Sakakah
- Buraidah
- Abha
- Dammam
- Ha’il
- Jizan
- Medina
- Mecca
- Najran
- Ar’ar
- Riyadh
- Tabuk
- Rest of Saudi Arabia
- Saudi Arabia Electrical Services Market
- Leading Companies and Market Players
- Electronic & Electrical Industries Corporation
- MT Enterprises
- Setra Al-Amal Manufacturing Co.
- Arabian Bemco Contracting Co. Ltd.
- alfanar Group
- Saudi Electricity Company
- Voltamp Energy SAOG
- Tamimi Energy Holding Company
- Eaton
- Saudi Aramco Power Company (SAPCO)
- Nesma Co.
- Schneider Electric Siemens
- Rawabi Electric
- AQESA
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