SAUDI ARABIA HIGH VOLTAGE SWITCHGEAR MARKET

Saudi Arabia High Voltage Switchgear Market Size & Insight 

Saudi Arabia High Voltage Switchgear Market size is project to add an incremental market revenue of over USD 300 million between 2025 and 2032 growing at robust CAGR during the forecast period owing to rising electricity demand, expansion of SEC grid and rising grid interconnections across GCC.

Saudi Arabia High Voltage Switchgear Market Overview

High voltage switchgear is designed for distributing electricity and power transmission. Voltage ranging above 36KV is referred to as high voltage switchgear and it can be installed indoor and outdoor as per the requirement. High voltage switchgear is widely used for power transmission in various application areas such as cities, towns, industrial centers. Switchgear consists of a combination of disconnect switches, fuses or circuit breakers which are used to electrical networks to control, protect and isolate electrical equipment. Voltage ranging above 36KV is referred to as high voltage switchgear.

Saudi Arabia High Voltage Switchgear Market Drivers

Rising Electricity Demand Owing to Development of Mega Projects Under Vision 2030

Major factors such as growth in high voltage switchgear installations across residential rapid industrialization, urbanization, wide product portfolio, rising demand for electrification coupled with potential replacement of switchgear. Increasing demand for secure and reliable power distribution networks is further fuelling market growth. In addition, the introduction of smart grid technology and government initiative to upgrade and modernize power distribution will gain traction for high voltage switchgear during the forecast period. Rising awareness and higher demand for circuit protection devices are also spurring the growth of the market. However, increasing raw material prices are expected to hamper the growth of the market.

The government of Saudi Arabia is focusing on the transmission and distribution segment to the rising demand for electricity from the Utilities and Industrial sectors. Accordingly, the Saudi Arabian power sector is witnessing significant growth in power sectors over the coming years. For instance: Saudi Arabia intends to delicate 11 PV power ventures with a joined limit of 2,225 MW this year. Also, Saudi Arabia is encountering a substantial development in construction, new transmission and distribution network and up-gradation & replacement of aging electrical equipment. Such advancements will further lead the power demand and thus impact the market growth of High voltage switchgear.

Grid Expansion & Rising Investment in Renewable Power

Increased investment from alternative energy sources is creating major demand for high voltage switchgear in the Kingdom. Saudi Arabia expected to reach 27.3 GW of renewable power capacity including 20 GW of solar PV and 7 GW of wind energy under Saudi Vision 2030. This further expected to increase the use of high voltage switchgear. In addition, rising installation and investment of renewable energy will further propel the market growth of Saudi Arabia high voltage switchgear market.

Rising Grid Interconnection with MENA and GCC countries

Electricity demand in MENA and GCC countries is projected to increase which leads to a rising demand for high voltage switchgear. The International Energy Agency’s Electricity Market Report estimates a two percent annual growth in power demand during the 2023 to 2025 period. The National Grid aims to enhance cross-border connections in the region by implementing grid links and building new high-capacity infrastructure linking nearby Gulf countries.

Saudi Arabia High Voltage Switchgear Market Segment Analysis 

High Voltage Switchgear Market by Product Type Insights

High Voltage Gas Insulated Switchgear (GIS) is a durable metal-enclosed unit that houses various high voltage components such as switches, fuses, isolators, relays, circuit breakers, disconnectors and lightning arresters etc. These devices can be used securely in limited areas including small spaces. They find applications in city infrastructure expansion, offshore platforms, and other facilities such as industrial and hydropower projects.

High Voltage Switchgear Market by Installation Type Insights

Indoor installed high voltage switchgear provide solutions for challenges like complex environment conditions such as urban area, highly populated areas, mountains, limited areas. These are usually installed inside the buildings in urban areas due to less space available.

Saudi Arabia High Voltage Switchgear Market Major Market Players

Various notable players operating in the market, include Hitachi Energy, HD Hyundai Electric, GE, Siemens etc.

Recent Developments of Saudi Arabia High Voltage Switchgear Market 

• • In 2023, Hitachi Energy signed an agreement with the Gulf Cooperation Council Interconnection Authority for upgrading Al-Fadhili high-voltage direct current converter station to ensure power security and grid stability under the GCCIA authority in the country. Hitachi Energy will provide its HVDC solutions includes high voltage switch gear, HVDC converter values, system studies, installation supervision.

Saudi Arabia High Voltage Switchgear Market Scope of the Report

Saudi Arabia High Voltage Switchgear Market Report Segmentation

The Saudi Arabia High Voltage Switchgear Market has been segmented on the basis of Type and Installation. Based on Type, the market is segmented into Gas Insulated Switchgear and Air Insulated Switchgear. Based on Installation, the market is segmented into Indoor and Outdoor.

Saudi Arabia High Voltage Switchgear Market by Type

• • Gas Insulated Switchgear
  • Air Insulated Switchgear

Saudi Arabia High Voltage Switchgear Market by Installation

• • Indoor
  • Outdoor

Saudi Arabia High Voltage Switchgear Market Leading players

• • Hitachi Energy
  • HD Hyundai Electric
  • GE
  • Siemens