GCC Electric Motor Market

Market Overview:

The GCC electric motor market size reached US$ 142.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 227.7 Million by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032. Increasing demand for energy-efficient and sustainable technologies, favorable government initiatives promoting electric vehicles, and rising investments in renewable energy sources represent some of the key factors driving the market.

Electric motors are devices that convert electrical energy into mechanical energy. They offer numerous advantages, such as extended operating life, low energy consumption, minimal maintenance, and high endurance for fluctuating voltages. They are vital in the oil and gas industry, which requires high-value and complex rotating equipment systems. Apart from this, electric motors have a diverse range of applications in devices, such as dishwashers, vacuum cleaners, printing presses, smartphones, and automobiles. They are a crucial component for operating various machines and are often used in industrial settings to perform heavy-duty tasks. One of the key advantages of electric motors is that they can operate with high efficiency, making them an environmentally friendly choice. Additionally, they require less maintenance than their combustion engine counterparts, thus reducing costs and downtime. 

GCC Electric Motor Market Trends:

The GCC electric motor market is driven by the increasing demand for energy-efficient and sustainable technologies and favorable government initiatives promoting electric vehicles (EVs). Moreover, rising investments in renewable energy sources and the escalating need to reduce carbon emissions are bolstering the market growth. Furthermore, the rapid growth of the construction and industrial sectors, coupled with the surging adoption of automation, is accelerating the market growth. Apart from this, the burgeoning product usage in various applications, including heating, ventilation, and air conditioning (HVAC) systems, pumps, and compressors, and the growing trend of electrification in the transportation sector are creating a positive outlook for the market. Other factors, such as the easy availability of raw materials and skilled labor in the region, the development of advanced technologies, such as brushless DC motors, and the increasing demand for electric motors in the oil and gas sector, are fueling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC electric motor market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on efficiency, end-use industry, and applications.

Efficiency Insights:

• Standard Efficiency Electric Motors
• High Efficiency Electric Motors
• Premium Efficiency Electric Motors
• Super Premium Efficiency Electric Motors
   

The report has provided a detailed breakup and analysis of the GCC electric motor market based on the efficiency. This includes standard, high, premium, and super premium efficiency electric motors. According to the report, high efficiency electric motors accounted for the largest market share.

End-Use Industry Insights:

• HVAC
• Mining
• Oil and Gas
• Water and Utilities
• Food, Beverage and Tobacco
• Others
   

The report has provided a detailed breakup and analysis of the GCC electric motor market based on the end-use industry. This includes HVAC, mining, oil and gas, water and utilities, food, beverage and tobacco, and others. According to the report, HVAC accounted for the largest market share.

Applications Insights:

• Pumps and Fans
• Compressors
• Other Uses
   

The report has provided a detailed breakup and analysis of the GCC electric motor market based on the application. This includes pumps and fans, compressors, and other uses. According to the report, pumps and fans accounted for the largest market share.

Country Insights:

• Saudi Arabia
• UAE
• Oman
• Qatar
• Kuwait
• Bahrain
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, UAE, Oman, Qatar, Kuwait, and Bahrain. According to the report, Saudi Arabia was the largest market for electric motor. Some of the factors driving the Saudi Arabia electric motor market in GCC included rising fuel prices, the proliferating sales of EVs, and rapid expansion of the industrial sector.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the GCC electric motor market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ABB, Siemens, WEG Industries, NIDEC Corporation, and TECO Middle East Electrical and Machinery Co. Ltd, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC electric motor market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the GCC electric motor market?
• What is the impact of each driver, restraint, and opportunity on the GCC electric motor market?
• What is the breakup of the market based on the efficiency?
• Which is the most attractive efficiency in the GCC electric motor market?
• What is the breakup of the market based on the end-use industry?
• Which is the most attractive end-use industry in the GCC electric motor market?
• What is the breakup of the market based on applications?
• Which is the most attractive application in the GCC electric motor market?
• What is the competitive structure of the GCC electric motor market?
• Who are the key players/companies in the GCC electric motor market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC electric motor market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC electric motor market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC electric motor industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.