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KSA electric motors market to grow at 8%

The electric motors market in Saudi Arabia is projected to grow at a CAGR of 8% during 2016 - 2021, on account of increasing industrialisation, booming infrastructural growth, increasing power generation and rising energy requirements in the country

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Electric motors, KSA, Motors, SAUDI, News

The electric motors market in Saudi Arabia is projected to grow at a CAGR of 8% during 2016 - 2021, on account of increasing industrialisation, booming infrastructural growth, increasing power generation and rising energy requirements in the country, a new report has revealed.

Growth in number of power plants and oil rigs, coupled with rapid commercialisation and urbanization are also boosting demand for electric motors in the Kingdom, according to the TechSci Research report.

"Saudi Arabia electric motors market is forecast to grow in the coming years due to increasing demand from end user segments, rising demand for energy efficient electric motors to reduce carbon emissions, coupled with rapid industrialisation in the country,” said Karan Chechi, research director at TechSci Research, a research based global management consulting firm.

“Increasing power consumption, rising number of power plants and growing utilisation of electric motors in various applications is anticipated to boost demand for electric motors in the country through 2021.”

Residential, manufacturing, commercial and real estate sectors are the major end users for electric motors industry in Saudi Arabia, according to the report.

Saudi Arabia electric motors market is dominated by AC based electric motors that are widely used in various applications such as pumps, compressors and fans.

Electric motor refurbishment and repair services market is also witnessing growth as electric motors are being extensively employed for various applications in diverse sectors such as oil & gas, petrochemical & refining, commercial and power plants.

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