Business Description

The development of smart grids, the establishment of nuclear and solar power plants would spur the growth of the switchgear market in the Middle East. Additionally, due to huge investment in the power transmission and distribution sector along with the interconnection of transmission networks, the country’s power infrastructure is expanding and this would act as one of the key drivers for the growth of the Middle East switchgear market.

According to 6Wresearch, Middle East Switchgear Market size is projected to grow at a CAGR of 2.7% during 2019-25. The commercial and industrial sector is the fastest-growing sector due to increasing construction activities associated with the building of new hotels, resorts, museums, hospitals and tourism-related infrastructure. Along with this, the government’s focus on attaining self-sufficiency in electricity production and providing adequate power infrastructure and efficient quality of power would also boost market growth.

In Middle Eastern countries such as UAE, Saudi Arabia, and Turkey, the power utility sector captured the majority of the market revenue share, owing to a shift towards renewable energy resources from oil as the main feedstock. Hence, the aforementioned countries are planning to replace old infrastructure using oil as their primary fuel. Moreover, in Saudi Arabia, the government seeks to invest around $9 billion to power generation and distribution each year which would subsequently lead to the installation of new switchgear in the plants.

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