Saudi Arabia Power Plant Equipment Market

Saudi Arabia Power Plant Equipment Market Overview:

The Saudi Arabia power plant equipment market size is projected to exhibit a growth rate (CAGR) of 2.30% during 2025-2033. The market is fueled by the country's Vision 2030 plan which is aimed to transform it by diversifying its source of energy. Government's emphasis on upgrading current power infrastructure and connecting renewable resources to the grid also drives demand for cutting-edge equipment. Cooperations with other foreign countries and the opening of production facilities in the kingdom, along with the Saudi Arabia's emphasis on energy diversification and sustainability, is further fueling the Saudi Arabia power plant equipment market share.

Saudi Arabia Power Plant Equipment Market Trends:

Strategic Investments in Renewable Energy Infrastructure

Saudi Arabia is in the midst of a dramatic shift in its energy landscape away from conventional fossil fuels to sources of renewable energy, such as wind and solar. In the Vision 2030 plan, the nation plans on producing 50% of its electricity from renewable sources by the year 2030. This vision has spurred major investments in renewable energy facilities, such as big solar and wind projects. For example, the Sudair Solar PV Project, which has a 1,500 MW capacity, is among the biggest solar projects in the region. These schemes, in addition to enriching the energy mix, stimulate the demand for sophisticated power plant equipment, including photovoltaic panels, inverters, and grid integration technologies. The focus on renewable energy is transforming the market for power plant equipment, and an increasing emphasis on green and efficient technology is being seen, which further contributes to the Saudi Arabia power plant equipment market growth.

Modernization of Power Generation Facilities

To address the growing energy needs and increase the efficiency of power generation, Saudi Arabia is investing in the modernization of its power plants. This entails overhauling aged infrastructure and incorporating cutting-edge technologies to increase performance and minimize emissions. For instance, Siemens Energy has signed a USD 1.5 billion contract to build two power plants in the western and central areas, bringing about around 4 Gigawatts of important power plant technologies into the kingdom. There is also included a 25-year maintenance contract for the power plants. These efforts are pushing the demand for cutting-edge technology, such as gas turbines, generators, and control systems, as the nation strives to improve the reliability and sustainability of its power generation capacity.

Saudi Arabia Power Plant Equipment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on technology and power plant type.

Technology Insights:

• Fossil Fuel Power Plant Equipment
• Nuclear Power Plant Equipment
• Renewable Energy Power Plant Equipment

The report has provided a detailed breakup and analysis of the market based on the technology. This includes fossil fuel power plant equipment, nuclear power plant equipment, and renewable energy power plant equipment.

Power Plant Type Insights:

• Coal-fired
• Gas-fired
• Nuclear
• Hydroelectric
• Solar
• Wind

A detailed breakup and analysis of the market based on the power plant type has also been provided in the report. This includes coal-fired, gas-fired, nuclear, hydroelectric, solar, and wind.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key 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.

Saudi Arabia Power Plant Equipment Market News:

• In March 2025, the South Korean firm Doosan Enerbility secured a KRW 890bn (USD 612 million) agreement with the Saudi Electric Power Corporation (SEPC) to construct the PP12 CCGT power facility in Saudi Arabia with a capacity of 1.8 GW. The initiative, situated approximately 150 km north-west of Riyadh, includes Doosan in the design and provision of key equipment for the power facility, set to be finished in 2028. This order follows a recent deal worth KRW 2,200 billion (USD 1.5 billion) to build two 3.6 GW combined cycle (CCGT) power plants in Saudi Arabia.
• In February 2025, it was revealed that Saudi Arabia is enhancing its energy security with a SR 13.4 billion (USD 3.57 billion) investment to enlarge the Qurayyah power plant, adding 3.01 gigawatts to accommodate rising demand and promote economic development. Saudi Electricity Co. and ACWA Power have entered into a power purchase agreement with Saudi Power Procurement Co., the only licensed electricity buyer in the Kingdom, to enhance Qurayyah Independent Power Plant. This plant is the largest independent power station globally that utilizes combined-cycle gas-fired technology.

Saudi Arabia Power Plant Equipment Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia power plant equipment market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia power plant equipment market on the basis of technology?
• What is the breakup of the Saudi Arabia power plant equipment market on the basis of power plant type?
• What is the breakup of the Saudi Arabia power plant equipment market on the basis of region?
• What are the various stages in the value chain of the Saudi Arabia power plant equipment market? 
• What are the key driving factors and challenges in the Saudi Arabia power plant equipment market?
• What is the structure of the Saudi Arabia power plant equipment market and who are the key players?
• What is the degree of competition in the Saudi Arabia power plant equipment market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia power plant equipment market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia power plant equipment market.
• 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 Saudi Arabia power plant equipment 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.