Market Overview
Riyadh is the center of the largest market in the MENA region for Lighting, HVAR, Electromechanical, Water, Energy and Alternative Energy...
A robust, sustainable demand boom is under way for the Electricity, Power, Lighting, Air Conditioning, Alternative Energy and Water Industries in Saudi Arabia. Saudi Elenex 2024 will showcase these solutions to the most important trade buyers in the region….
$270 Billion
Power Generation Investment...
Saudi Arabia is to invest more than $270 Billion into its power sector by 2030 to boost clean energy generation capacity and expand and modernize its transmission and distribution networks. The Kingdom is aiming for power generation of 50:50 between gas and renewables by 2030. Services from engineering, switching, transmission, monitoring and control systems and other equipment manufacturers and distributors will be needed to facilitate the Kingdom’s energy sector ongoing transformation.
5.9%
Non-oil Growth 2023...
Economic momentum in the Arab world’s largest economy continued to expand at 5.9% for nonoil growth. This is based on projected positive performances of economic indicators, strategies and programs under implementation.
$28.3 Billion
Smart HVAC Control Market...
IoT technology is transforming the way contractors manage HVAC systems in both residential and commercial settings. The global smart HVAC control market will reach $28.3 Billion by 2025. IoT sensors will drive profitability by monitoring performance, predicting maintenance needs and providing energy efficiency. Business opportunities for HVAC equipment, materials, tools, products and accessories will be crucial to the Saudi governments aims of transforming energy use and efficiency. This is a developing opportunity.
$1.46 Billion
Saudi Lighting Market...
With the rapid rise of urban development in Saudi, and the need for energy-efficient smart lighting, Saudi Arabia’s lighting market is expected to grow exponentially over the next few years to $1.46 Billion by 2026. The development of smart cities and zones, the entertainment and sports industries are adding to demand. With a push on energy efficiency companies that supply LED and other energy saving, installation and control components are looking at a high-demand market.
62,000
New Energy Saving LED Street Lights…
The Ministry of Transport and the PIF-owned National Energy Services Company (NASCO) are replacing the street lights throughout the Kingdom. The project is already underway. The massive project sets the scene for a new trend in retrofitting traditional lighting with new LED technology that can be of benefit in public buildings and spaces, and private developments. This provides huge opportunities for LED lighting and equipment manufacturers, distributors, and related service providers.
Smart Technology Solutions will be in Demandby the Construction Industry at Elenex 2024...
$846 Million
Smart Home Market Growth…
Revenue in the Saudi Smart Home market is expected to show an annual growth rate (CAGR 2022-2028)of 11.95%, resulting in a projected market volume of $846.5 Million by 2028. As the expansion of housing development accelerates in Saudi Arabia, the number of households that are built or transform to smart is expected to amount to 2.1m in 2028. This provides significant growth opportunities for the importation and distribution of smart home technologies.
$720 Million
Smart Network Contracts...
Growing opportunities in Smart Networks, the Saudi Electricity Company (SEC) has recently entered into two contracts with a combined value $720 million for a project to supply and install 60,000 smart devices to the Kingdom’s electricity distribution network. The SEC looks to automate and develop electrical networks in line with its digital transformation strategy. Latest technologies and services are needed to facilitate the transformation.
The National Renewable Energy Program (NREP), A key strategic initiative of Vision 2030...
NREP aims to increase the Kingdom’s renewable energy production towards reducing carbon dioxide emissions, creating a multi-billion US$ renewable energy market…
$101 Billion
Renewable Energy Investment in Saudi Arabia…
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced big renewable investment plans during the Kingdom’s 2022 budget. Prince Abdulaziz says that the Kingdom will invest $101 Billion into renewable energy production by 2030. This comes as Saudi Arabia aims for renewable energy to provide 50% of electricity generation by 2030, with the other half slated to come from gas-fired thermal power plants.
$15.9 Billion
Projects underway: 50% of Saudi electricity from renewables by 2030...
The Kingdom is witnessing a sharp rise in its renewable energy capacity in the last years, mainly driven by the increasing focus on environmental concerns. The Saudi Arabia renewable energy market is expected to grow approximately at a CAGR of over 24.2% (2021- 2026). To preserve non-renewable fossil fuel resources and transform Saudi Arabia into the Kingdom of Sustainable Energy, an ambitious plan is developed to generate 50%of electricity from renewable energy reaching 58.7 gigawatts by 2030, of which 40 gigawatts would be from solar and 16 gigawatts from wind energy and the balance coming from other renewable energy sources.
Saudi Arabia’s vision is to achieve 100% usage of treated wastewater by 2025...
The municipal wastewater treatment sector has been valued at more than $4.69 Billion. The water treatment chemicals market was valued at $919 Million in 2022. Market growth is accelerating…
$24.3 Billion
National water strategy extension program...
Saudi Arabia is the largest country without running surface water and has one of the highest rates of water consumption in the world. The National Water Council (NWC) has a plan for $24.3 Billion worth of waste water treatment and reuse-related capital improvement projects over the next 20 years.
$4.69 Billion
160 municipal wastewater treatment plants are targeted to meet water recycling goals...
The capacity of treatment plants is being expanded from the current 5.28 million cubic metres per day to facilitate recycling of grey water which requires the additional construction of 160 wastewater treatment plants. The opportunities for suppliers of water management equipment, monitoring technologies and related water treatment and distribution technology are needed to facilitate the achievement of this large scale transformation.
