DUBLIN, Feb. 23, 2023 /PRNewswire/ — The “Saudi Arabia Electric Motors Market By Type (AC, DC), By Voltage, By End User (Industrial, Commercial, Residential, Transportation, and Agriculture), By Rotor Type (Inner, Outer), By Output Power, By Region, Competition Forecast & Opportunities, 2027” report has been added to ResearchAndMarkets.com’s offering.
Saudi Arabia electric motors market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on the account of advancing the end-user sector.
Growing demands for heavy machinery and consumer electronics further drive the growth of the Saudi Arabia electric motors market in the upcoming five years. Expanding automotive industry and its growing manufacturing of automobiles driven by the surging demand from consumers for their vehicles further supports the growth of the Saudi Arabia electric motors market in the next five years since electric motors are widely utilized in automotive manufacturing.
An electric motor is an electronic machine that converts electrical energy into mechanical energy and facilitates the working of the machinery or equipment. Most electric motors are functional through an interaction between a magnetic field and an electric field generated by the electrical energy.
Electric current being passed through the electric motor is either AC or DC that alternating current or direct current. Types of electric motors are based on the type of electric current passed through them to produce mechanical energy.
Growing Automotive Industry Promises Market Growth
The electric motor’s demands are highly dependent on automotive production in the country. With growing demands for vehicles in the country, the automotive industry is rapidly expanding. The only passenger cars market value in the country was USD11.33 billion in the year 2020.
Through Saudi Vision 2030, the country is anticipating selling over 300,000 by the end of the year 2030, counting since 2020. Thus, increasing sales of automobiles in the country would aid the growing demand for electric motors in the upcoming years, therefore actively driving the growth of the Saudi Arabia electric motors market in the upcoming five years.
Technological Advancements To Drive Market Growth
Consistent advancement in electrical appliances, and the growing need to lower energy consumption and increase power generation capacities further drive the growth of the Saudi Arabia electric motors market in the upcoming five years.
Emerging technologies such as axial flux, in-wheel, etc., would facilitate market growth. These technologies are rapidly gaining popularity in the recent equipment, and applications thus substantiating the growth of the Saudi Arabia electric motors market in the next five years.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia electric motors market.
ABB Limited
ARC Systems Inc.
Denso Corporation
Emerson Electric Co.
Johnson Electric Holdings Limited
Maxon
Nidec Corporation
Regal Rexnord Corporation
Rockwell Automation, Inc.
Siemens AG
Report Scope:
Saudi Arabia Electric Motors Market, By Type:
Saudi Arabia Electric Motors Market, By Voltage:
up to 1 kV
1kV-6.6 kV
above 6.6kV
Saudi Arabia Electric Motors Market, By End User:
Industrial
Commercial
Residential
Transportation
Agriculture
Saudi Arabia Electric Motors Market, By Rotor Type:
Inner
Outer
Saudi Arabia Electric Motors Market, By Output Power:
Integral Horsepower
Fractional Horsepower
Saudi Arabia Electric Motors Market, By Region:
Northern & Central Region
Eastern Region
Southern Region
Western Region
For more information about this report visit https://www.researchandmarkets.com/r/fzc6d6-arabia?w=5
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