Saudi Arabia Outdoor Power Supply Market

What is the power market in Saudi Arabia?

The Power Market includes generating electricity using various methods, among which the most widely used are thermal and renewable energy sources. The Saudi Arabian power market is segmented by power generation and power transmission and distribution (T&D). By power generation, the market is segmented into thermal and renewables.

What factors will drive the Saudi Arabian power market?

Over the medium term, factors, such as increasing diversification of energy sources from oil and gas to cleaner energy sources, such as solar, wind, and bioenergy, are expected to drive the Saudi Arabian power market, along with supportive government policies leading to the development of renewable energy capacity during the forecast period.

How will Saudi Arabia reduce oil consumption?

To reduce oil consumption in the generation of power, Saudi Arabia plans to upgrade its entire power generation, distribution, and transmission sector. In addition, Saudi Arabia plans to develop over 58 GW of solar and wind power, and subsequently phase out all power stations that use petroleum and diesel.

Who are the major players in Saudi Electricity Market?

Some of the major players operating in this market (in no particular order) include ACWA Power Co., Saudi Electricity Company (SEC) SJSC, MARAFIQ Power and Water Utility Company for Jubail and Yanbu (MARAFIQ), Arabian Electrical Transmission Line Construction Company (AETCON), and Nour Energy (ASTRA Group), among others.

What is the IMARC group's analysis of the Saudi Arabia power market?

IMARC Group provides an analysis of the key trends in each segment of the Saudi Arabia power market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on generation source. Analysis by Generation Source:

Why does Saudi Arabia need electricity?

In Saudi Arabia, electricity demand tends to increase as economic growth occurs. This is primarily because economic activities such as manufacturing, industrial processes, and services require electricity to function. Electricity is required to power machinery, equipment, and infrastructure as industries expand and new businesses emerge.