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Saudi Arabia Power Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The market is segmented by Power Sector (Generation, and Transmission and Distribution (T&D))
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016 - 2026
Base Year:
2019
CAGR:
1.5 %
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Market Overview
The installed power capacity in Saudi Arabia is expected to grow at a CAGR of approximately 1.50% during the forecast period of 2020 – 2025. Energy demand in the country is growing by 8-10% per year and peak demand is expected to be 70 GW by 2020 and 120 GW by 2032, driven partly by desalination increase. To meet the electricity demand, the Kingdom is estimated to increase its power generation capacity from 77 GW in 2014 to 156 GW by 2040. It includes installing 5 GW capacity and distribution infrastructure every year through 2020. To achieve the aim, the government is planning to invest USD 5 billion in electricity generation and USD 4 billion in distribution. However, the geopolitical tensions in the country and its fiscal deficit are expected to negatively impact the power market in the coming years.
- Under Saudi Vision 2030, the country plans to use clean energy sources to generate electricity to meet much of its future energy needs to diversify its economy.
- Privatization of power sector is an important opportunity, and if the government capitalizes on this opening, it will help with large investments that are needed for the reformation of the power sector and provide the country with the expertise needed to generate the renewable energy at lower costs.
- GCC grid interconnections between the six Arab states of Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates (UAE), and Oman is expected to drive the market.
Scope of the Report
The Saudi Arabia power market report include:
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Key Market Trends
Renewable Power Generation to Witness Rapid Growth
- Oil & gas accounts for the major share in the country's electric power generation. In addition, the kingdom uses large quantities of oil liquids, including crude, heavy fuel oil and diesel to generate electricity.
- Under Saudi Vision 2030, the country plans to use clean energy sources to generate electricity to meet much of its future energy needs to diversify its economy. Moreover, the Saudi government envisages nuclear and renewables to supplement the energy mix, thereby freeing up oil for other revenue generating opportunities.
- OPEC’s biggest oil producer, Saudi Arabia is aiming for renewable energy installations, primarily solar and wind, of 9.5 GW by 2023 (accounting for 10% of total installed capacity). By 2030, the country is expected to generate 70% of its electricity from natural gas and 30% from renewables and other sources, which include nuclear power plants.
- Nuclear power is likely to play a significant role in meeting future power needs. While the National Transformation Program (NTP) have set a target to incorporate nuclear energy into the national energy mix and aims for a 30% local content contribution.
- Coal-fired generation has been promoted in some of the Gulf Cooperation Council (GCC) countries but not, so far, in the Kingdom. Therefore, the energy diversification is expecetd to provide significant opportunity for the power generation market.
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GCC Interconnections to Drive the Market
- Recognizing the benefits of interconnecting their power grids, the six Arab states of Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates (UAE), and Oman, decided to build an AC interconnection of the 50 Hz systems of Kuwait, Bahrain, Qatar, UAE and Oman, with a back-to-back HVDC interconnection to the 60 Hz Saudi Arabian system.
- The interconnection was justified, based on reserve sharing between the systems; the cost of the project was divided among the participating systems in proportion to their estimated reserve capacity savings.
- The principal benefits of the interconnection arose from the sharing of reserves between the systems, and the consequential reduction in the installed generating capacity and associated operating and maintenance costs in the GCC countries. This interconnection was planned and executed in the three phases.
- The aim of this project is to give Kuwait and Saudi Arabia a 1,200 MW of power capacity each (along with UAE 900 MW, Qatar 750 MW, Bahrain 600 MW and Oman 400 MW). The project was overseen by the board of directors of the GCC Interconnection Authority (GCCIA). GCC Grid has the potential to expand into North Africa and eventually link with Europe's power grids. Hence, this project is expecetd to drive the Saudi Arabia Power market during the forecast period.
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Competitive Landscape
The Saudi Arabia power market is fragmented. Some of the major companies include Saudi Electricity Company (SEC), ACWA Power, Power and Water Utility Company (MARAFIQ), and Engie SA.
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Table Of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Installed Power Capacity in GW, by Source, till 2025
4.3 Electricity Production in GWh, by Source, till 2025
4.4 Electricity Price Trends in Saudi Arabia
4.5 Electricity Sales in GWh (1990-2018)
4.6 Peak Load in MW (2000-2018)
4.7 Electricity Customers (2000-2018)
4.8 Electrical System and Losses (2007-2018)
4.9 Recent Trends and Developments
4.10 Government Policies and Regulations
4.11 Market Dynamics
4.11.1 Drivers
4.11.2 Restraints
4.12 Supply Chain Analysis
4.13 PESTLE Analysis
4.14 List of Key Upcoming Power Generation Projects
5. SAUDI ARABIA POWER GENERATION SCENARIO
5.1 Market Overview
5.2 Installed Power Capacity, by Fuel Type
5.2.1 Oil
5.2.2 Gas
5.2.3 Renewable
5.2.4 Nuclear
5.3 Key projects
5.3.1 Projects in Pipeline
5.3.2 Upcoming Projects
5.3.3 Proposed Projects
5.4 Power Generation in Saudi Arabia
5.4.1 Electricity Generation by Companies, 2018
5.4.2 Electricity Generation by Region, 2018
5.4.3 Electricity Generation by Unit Type, 2018
5.4.4 Average Plant Capacity by License, 2018
5.5 Power Consumption in Saudi Arabia
5.5.1 Electricity Consumption per Capita (2000-2018)
5.5.2 Electricity Consumption per Customer (2000-2018)
5.5.3 Electricity Consumption by Region (2005-2018)
6. SAUDI ARABIA POWER TRANSMISION & DISTRIBUTION NETWORK
6.1 Market Overview
6.2 Power Transmission & Distribution Infrastructure, by Capacity
6.3 Power Transmission & Distribution Infrastructure, by Length
6.4 Power Transmission & Distribution Infrastructure, by Region
6.5 Transmission Lines (2007-2019)
6.5.1 Overhead lines (ckt.km)
6.5.2 Underground lines (ckt.km)
6.6 Number of Distribution Substations (2007-2018)
6.7 Distribution Lines (2007-2018)
6.7.1 Overhead lines (ckt.km)
6.7.2 Underground lines (ckt.km)
6.8 Energy sales Per distribution circle KM
6.9 Key projects
6.9.1 Projects in Pipeline
6.9.2 Upcoming Projects
6.9.3 Proposed Projects
7. COMPETITIVE LANDSCAPE
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Strategies Adopted by Leading Players
7.3 Key Company Profiles
7.3.1 Saudi Electricity Company (SEC)
7.3.2 ACWA Power
7.3.3 Power and Water Utility Company (MARAFIQ)
7.3.4 Engie SA
7.3.5 Doosan Heavy Industries & Construction Co. Ltd
7.3.6 Fluor Corporation
7.3.7 Shandong Electric Power Construction Corporation III (SEPCO III)
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
*List Not Exhaustive
** Subject to Availability
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