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Report
Middle-East And Africa Low Voltage Switchgear - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 92 Pages I Mordor Intelligence
The Middle-East And Africa Low Voltage Switchgear Market size is estimated at USD 2.19 billion in 2024, and is expected to reach USD 3.70 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
Key Highlights
-Over the short term, the Middle-East and Africa Low Voltage Switchgear Market is anticipated to grow substantially due to the growing infrastructure projects in the region resulting in high demand for power distribution and the growing power demand from commercial and industrial sectors.
-On the other hand, high operations and maintenance costs are expected to hinder the market growth.
-Nevertheless, the developments associated with the smart grids in the region create ample opportunities for the low-voltage switchgear market.
Middle-East And Africa Low Voltage Switchgear Market Trends
Upcoming Power Transmission Projects Expected to Drive the Market
- The Middle East and African region have witnessed continuous growth in industrialization and other infrastructural growth, leading to an upsurge in demand for power distribution networks. The most highlighted countries in the region in the power distribution sector, as of 2022, are Saudi Arabia, Ghana, Nigeria, United Arab Emirates.
- In the United Arab Emirates, the electricity generated was around 154.74 TWh in 2022, an uptrend in the last five years due to the country's power demand growth. The government and the private companies responded well by power distribution network establishments and smart grids.
- Not only in the United Arab Emirates, the other countries in the region m and the governments are also focusing on power distribution projects based on the smart grid concept. It is predicted that the Middle East and North African region will invest heavily in developing smart grids as utilities and energy companies push ahead with programs to develop clean energy and improve the efficiency of electricity sectors.
- Furthermore, due to the relative lack of indigenous technology and expertise, many African countries collaborate with others, such as China, India, and Europe. These countries have the technical and financial capabilities to help develop T&D projects and have collaborated with financially weaker African countries in their grid modernization efforts. In January 2022, Power Grid Corporation of India Ltd signed an agreement with Africa50 to develop the Kenya T&D Project on a public-private partnership basis. The project involves developing, financing, constructing, and operating the 400 kV Lessos- Loosuk and 220 kV Kisumu - Musaga transmission lines, with PowerGrid India providing technical and operational expertise.
- Such developments have a proliferating effect on the low-voltage switchgear market in the region.
Saudi Arabia Expected to Witness Significant Growth
- Saudi Arabia is developing new greenfield and brownfield power transmission and distribution projects to meet the growing power demand from all consumption areas. The government and private companies responded to the elevated power demand through new power generation projects and upgrading the power transmission and distribution networks.
- In the year 2022, the electricity generated in the country was around 401.59 TWh, an upward shift from 380.89 TWh in 2020. The government has also planned new power transmission and distribution projects to enhance and expand power transmission efficiency.
- For example, in March 2022, the Linxon company clinched three contracts worth USD 62 million to deliver power distribution network expansion projects for the Saudi Electricity Company. It includes the expansion of the existing Badar substation in Riyadh, the additional installation of reactors at Nafal, and the expansion and installation of bus reactors at Makkah and Jeddah North East substations.
- Furthermore, in March 2023, L&T bagged the contract to build a 380kV substation in Saudi Arabia. The agreement includes the design and EPC of more than 400km of 380kV overhead transmission lines, a new 230kV gas-insulated substation, and associated automation and protection systems.
- Such developments are expected to have a propelling effect on the low-voltage switchgear market in the country.
Middle-East And Africa Low Voltage Switchgear Industry Overview
The Middle-East and Africa Low Voltage Switchgear Market is semi-consolidated. Some of the key players (in no particular order) include Hitachi Energy Ltd., General Electric Company, Schneider Electric SE, Siemens AG, and Eaton Corporation PLC., among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Growing Infrastructure Projects in the Region
4.5.2 Restraints
4.5.2.1 High Operations and Maintenance Costs
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Substation
5.1.2 Distribution
5.1.3 Utility
5.2 Installation
5.2.1 Outdoor
5.2.2 Indoor
5.3 Voltage Rating
5.3.1 Less Than 250 V
5.3.2 250 V - 750 V
5.3.3 750 V - 1000 V
5.4 Geography
5.4.1 Saudi Arabia
5.4.2 United Arab Emirates
5.4.3 Nigeria
5.4.4 South Africa
5.4.5 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Hitachi Energy Ltd.
6.3.2 Schneider Electric SE
6.3.3 General Electric Company
6.3.4 Eaton Corporation PLC
6.3.5 Toshiba Corporation
6.3.6 Mitsubishi Electric Corporation
6.3.7 Siemens Energy AG
6.3.8 Hyosung Heavy Industries Corporation
6.3.9 Bharat Heavy Electricals Limited
6.3.10 Powell Industries Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The Developments associated with the Smart Grids in the Region
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