Research and Markets - Saudi Arabia Electric Motor Market to Grow at a CAGR of 5.3% by 2023 - Key Vendors are ABB, Siemens, WEG, Teco & Nidec

DUBLIN, May 22, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Saudi Arabia Electric Motor Market (2017-2023): Forecast By Types, Voltage, End Users, Applications, Regions, Import Statistics, and Competitive Landscape" report to their offering.

Growing petrochemical industry, expansion of industrial sector along with upcoming infrastructure projects are some of the key factors which would fuel the growth of Saudi Arabia electric motor market in the forecast period. Additionally, expected recovery of oil prices would also increase government funding in oil & gas and petrochemical projects, which would further drive the demand for electric motors in the country.

According to research, Saudi Arabia electric motor market revenues are projected to grow at a CAGR of 5.3% during 2017-2023. The market has declined in 2015 and 2016 and same trend is expected in 2017 as well. However, the market is likely to recover post 2017 due to expected recovery of oil prices. Changing government policies, establishment of special economic zones and expansion of automotive manufacturing as well as growth in petrochemical industry would spur the market for electric motors in Saudi Arabia.

Amongst all end users, the Petrochemical, Chemicals and Fertilizers (PCF), oil & gas and water & utilities sectors dominated the market, where major growth is exhibited in the Petrochemical, Chemicals, and Fertilizers (PCF) and water and utilities segments. The key players in Saudi Arabia electric motor market include: ABB, Siemens, WEG, Teco and Nidec.

Companies Mentioned

• ABB Ltd.
• Ashoor Electric Motors
• ATB SCHORCH GmbH
• CG Power Systems Belgium NV
• General Electric Company
• Nidec Corporation
• Siemens AG
• TECO Middle East Electrical and Machinery Co. Ltd.
• WEG Middle East FZE
  

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Saudi Arabia Electric Motor Market Overview

4. Saudi Arabia Electric Motor Market Dynamics

5. Saudi Arabia Electric Motor Market Trends

6. Saudi Arabia Electric Motor Market Overview, By Types

7. Saudi Arabia Electric Motor Market Overview, By Voltage

8. Saudi Arabia Electric Motor Market Overview, By End Users

9. Saudi Arabia Electric Motor Market Overview, By Applications

10. Saudi Arabia Electric Motor Market Overview, By Regions

11. Saudi Arabia Government Spending Outlook

12. Saudi Arabia Electric Motor Refurbishment Market Overview

13. Market Opportunity Assessment

14. Import Statistics

15. Competitive Landscape

16. Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/8blg25/saudi_arabia

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