Saudi Arabia Switchgear MarketCompanies (2024 - 2029)

Saudi Arabia Switchgear Market Companies Summary

The switchgear market in Saudi Arabia is anticipated to experience significant growth due to increasing power demand in commercial and industrial sectors. This has led to the proposal of new power generation, transmission, and distribution projects. However, the use of SF6 gas in insulating switchgear, a potent greenhouse gas, may hinder market growth. Despite this, the Saudi government is making efforts to reduce reliance on thermal energy sources and increase the share of renewables in the power generation mix, providing ample opportunities for the switchgear market. The market is dominated by gas-insulated switchgear (GIS), which is more environment-friendly, reliable, and flexible compared to air-insulated switchgear. The use of GIS is expected to rise due to stricter carbon emission regulations and growing awareness of renewable energy sources. The growth of GIS is primarily driven by rising energy demand and the need for extension or replacement of old switchgear at substations. The government has planned new power transmission and distribution projects to improve transmission efficiency. Furthermore, the country is working with numerous private entities to expand its renewable energy portfolio.