This opportunity entails developing the value chain for the production of low voltage motors to serve KSA and the broader GCC region.
The overall demand for low voltage motors in Saudi Arabia has been growing, estimated to be 585,000 units valued at USD 59 million in 2018 and forecasted to increase at an annual growth rate of 3% to reach 647,000 units by 2022. Three phase asynchronous motors are the most widely used types in the Kingdom.
Beyond the KSA market, investors in Saudi have the opportunity to tap into the large regional market in the GCC with expected increase in demand from 394,000 units valued at USD 99 million in 2018 to 436,000 by 2022. The KSA market demand is expected to be ~60% of the overall GCC demand for low voltage motors.
The main focus of this opportunity is to develop manufacturing facilities for terminal boxes, fans, stators, bearings and rotors and final manufacturing and factory testing of motors.
However, there are additional opportunities across the low voltage motors manufacturing value chain. These additional opportunities include:
- Design: establish design facilities to customize low voltage motors to customer needs and specifications
- Input materials: manufacture copper, stainless and carbon steel, aluminum, iron, intermediate elastomers and coating to meet the specifications needed for components
- Sales and after-sales services: establish after-sales operations for inspection, maintenance, repair and overhaul
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