Wind Power is the use of wind for providing mechanical power by using wind turbines for turning the electric generators. The impact on environment is drastically reduced by the use of wind power as it is a renewable energy. The depletion of fossil fuel reserves, concerns pertaining to harmful impact on environment, favourable government initiatives and reduction in cost of wind power generation are key factors which are making numerous nations to increase their degree of desire to quicken renewables unit installation.

To have an edge over the competition by knowing the market dynamics and current trends of “Saudi Arabia Wind Power Market”, request for Sample Report here

The key factor propelling the growth of the market is the increased focus of government towards meeting its renewable energy objectives under the Saudi Vision 2030 program. In addition, the country is focussing towards reducing its dependence on fossil fuels and producing electricity through renewable resources such as wind power and solar energy. Saudi Arabia has been promoting power generation using wind turbines to endure lower operational costs in comparison to auxiliary power generation technologies. By 2030, the government intends to meet the wind power capacity target which is set at 16 GW. The increased number of investments by the government and private players for setting-up wind farms in the country is expected to fuel the growth of the market during the forecast period. For instance, in July 2019, a consortium led by France’s EDF and Abu Dhabi’s Masdar received a contract worth USD 500 million for developing the country’s first utility-scale wind project, the 400-megawatt Dumat Al Jandal wind farm.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

On the basis of location, offshore segment is expected to grow at a higher CAGR during the forecast period. The increased amount of investments towards building offshore wind farms by the private players in the country is propelling the growth of this segment. For instance, in July 2019, Plambeck Emirates LLC. entered a memorandum of understanding wherein the company will develop a 500 MW floating offshore wind farm in Saudi Arabia.

On the basis of application, residential segment is expected to grow at a higher CAGR during the forecast period. The implementation of smart city project in major cities such as Makkah, Riyadh, Jeddah, Al-Madinah, and Al-Ahsa, respectively is bolstering the growth of this segment. In addition, commercial segment is projected to grow at a substantial CAGR during the forecast period owing to the increasing number of infrastructure projects in the country. For instance, Saudi Arabia invested USD 23 billion in four urban development projects in Riyadh, which include King Salman Park, Green Riyadh, Sports Boulevard, and Riyadh Art. Additionally, Saudi Arabia plans to invest USD 36 billion for transportation -infrastructure projects, which include airports, railways, ports, and roads.

In case, any of your paint points areas are not covered in the current scope of this report, Request for Customization here

Major players of the Saudi Arabia wind power market are focusing on expanding their customer base across the globe by leveraging on the strategic collaboration and partnership to increase their market share and their profitability. Various notable players operating in the market, include market players General Electric., EDF Renewables, Vestas, Saudi Arabian Saipem Co. Ltd., Masdar, Abdul Latif Jameel IPR Company Limited., ACWA Power, Goldwind International Holdings (HK) Ltd.

Key Development:

• • In July 2019, Plambeck Emirates LLC. entered a memorandum of understanding wherein the company will develop a 500 MW floating offshore wind farm in Saudi Arabia
  • In July 2019, a consortium led by France’s EDF and Abu Dhabi’s Masdar received a contract worth USD 500 million for developing the country’s first utility-scale wind project, the 400-megawatt Dumat Al Jandal wind farm

Saudi Arabia wind power market has been segmented based on location and application. Based on the location, the market is categorized into offshore and onshore. Based on the application, the market is segmented into industrial, commercial and residential.

For detailed scope of the “Saudi Arabia Wind Power Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is Saudi Arabia Wind Power market growing? What will be the Saudi Arabia Wind Power market forecast?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the various application areas and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2018
Market Forecast Period	2019-2026
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Application and By Location
Regional Coverage	Saudi Arabia
Companies Profiled	General Electric., EDF Renewables, Vestas, Saudi Arabian Saipem Co. Ltd., Masdar, Abdul Latif Jameel IPR Company Limited., ACWA Power, Goldwind International Holdings (HK) Ltd.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Saudi Arabia Wind Power Market by Location

• • Onshore
  • Offshore

Saudi Arabia Wind Power Market by Application

• • Residential
  • Commercial
  • Industrial

Leading market players

• • General Electric.
  • EDF Renewables
  • Vestas
  • Saudi Arabian Saipem Co. Ltd.
  • Masdar
  • Abdul Latif Jameel IPR Company Limited.
  • ACWA Power
  • Goldwind International Holdings (HK) Ltd.