Saudi Arabia Power Capacitors Market – Opportunities and Forecast, 2020-2027

1. Saudi Arabia Power Capacitors Market

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3. Saudi Arabia Power Capacitors Market Summary The key drivers contributing to the Saudi Arabia power capacitor market's growth are growing consumption for electricity, technological advancements, and the increasing industrial and commercial facilities. Saudi Arabia mega- project such as Smart City “Neom,” Saudi Arabia Vision 2030, the Red Sea Project among others are boosting the demand for energy efficient capacitor, thereby, surging the growth of the Saudi Arabia power capacitors market size. Rising focus to generate power from renewable energy sources is further boosting the growth of the Saudi Arabia Power Capacitors Market. Numerous solar projects are running under the Saudi Arabia National Renewable Energy Programme (NREP) such as Medina solar PV independent power project (IPP), and Rafha solar PV IPP, which grows the demand for power capacitor for the transmission of energy. Saudi Arabia is planning to build a wind energy power plant of 400- megawatt at Dumat Al Jandal facility in north-western Saudi Arabia, which will boost the demand for power capacitors.

4. Additionally, the increasing demand for power capacitors driven by its increasing application across industries Telecommunication, and power utilities to reduce energy consumption are expected to positively impact on the increasing demand of the market. Expanding grid infrastructure to grow electricity accessibility and distribution network is projected to witness strong demand for power capacitors over the forecast period. On the other hand, the high cost of power capacitors is likely to hamper the market's growth. such as oil and gas,

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