Market Size of Middle East and Africa Electric Drives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Electric Drives Market Analysis
The Middle East and Africa Electric Drives Market are expected to register a CAGR of 5.2% during the forecast period (2022 - 2027). The COVID-19 outbreak has reduced demand for these drives significantly. Many manufacturers of these products have completely or partially shut down their plants due to government-imposed lockdowns to halt the spread of the pandemic. As a result, the MENA Electric drives market suffers from low demand for industrial products due to the COVID-19 pandemic.
- Electric drives deliver a highly-efficient production process at a low cost. As electricity consumption is the major cost component across end-user industries, the demand for electric drives is expected to increase considerably to gain an advantage over electricity consumption in the region.
- The increasing automation of various industrial processes and using electric AC motors in multiple applications such as healthcare, construction, automotive, and consumer goods are expected to drive market growth. The increasing use of alternating electric current (AC) motors in infrastructure development and rising construction activity, particularly in developing economies in the region, accelerates market growth.
- For instance, in June 2022, ABB, a technology company with a presence in the Middle East, established a test center to develop a 3D vision for automation. This facility will create pick-and-place, 3D vision-enabled Random Bin Picking solutions to automate the selection of randomly placed parts, improving machine tending and parts feeding speed and productivity.
- Moreover, urbanization and industrialization are causing a rapid increase in energy demand in developing regions such as the Middle East and Africa. In industries, there has been a growing emphasis on adopting and implementing energy-efficient solutions. Furthermore, motor systems consume a large portion of the power supplied to sectors, significantly reducing the operating cost. DC drives are pieces of electrical equipment that help minimize motor power consumption by regulating the motor speed at variable loads. The growing demand for energy-efficient systems is expected to fuel the DC drive market.
- Furthermore, according to Trade Arabia, in May 2021, the demand for energy in the MEMA region is expected to grow by 3.35 % per year for the next 15 years, as the MEMA region's population is expected to grow by 20% to 581 million in 2030 and another 24% by 2050 to 724 million.
