Burnaby, Canada, December 18, 2015 --(PR.com
)-- According to TechSci Research report “Saudi Arabia Power & Distribution Transformers Market Forecast & Opportunities, 2020,” power and distribution transformers market in the country is projected to cross US$ 720 million by 2020,on account of rising demand for power and increasing government efforts towards adding power generation capacity. During 2010 - 2014, rapid industrialization, robust growth in the demand for power and rising investments in power sector were major factors propelling demand for power and distribution transformers in Saudi Arabia.
In 2014, the central region of Saudi Arabia accounted for the largest share in the country’s power & distribution transformers market. With more than 16 power projects planned to be constructed, the North & East region of the country accounted for the second largest share, followed by the Western and Southern regions. Few of the leading players operating in Saudi Arabia’s power & distribution transformers market include ABB Electrical Industries Co. Ltd., Saudi Transformers Company Ltd., Wahah Electric Supply Company of Saudi Arabia Ltd. and Saudi Power Transformer Company Ltd.
“Saudi Arabia power and distribution transformers market is expected to grow in the coming years on account of continuous increase in power generation capacity along with integration of renewable energy to the country’s existing power grid. Advancements in technology, development of smarter transformers coupled with growing investments in energy sector are expected to fuel demand for power and distribution transformers in Saudi Arabia through 2020,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.