Saudi Arabia Smart Grid Market- Growth, Trends, and Forecast (2020-2025)

The market is segmented by Technology Application Area (Transmission, Demand Response, Advanced Metering Infrastructure (AMI), and Other Technology Application Areas)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

3 %

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Market Overview

The market for smart grid network in Saudi Arabia is expected to grow at CAGR of more than 3% in the forecast period of 2020-2025. In a nation like Saudi Arabia growing renewable energy and the need to modify existing grid networks to meet the growing power demand, the market for the smart grid is expected to witness considerable growth. Also, to improve the collection of revenue for electricity and to address electricity theft in low-income areas, the demand for smart grid network is expected to grow. However, developing a smart grid with the pace with which Saudi Arabia is developing renewable sources and the initial large investment for the modification of the grid can be a restraining factor to the market in the coming years.

  • Advanced Metering Structure is expected to drive the smart grid network significantly, providing monitoring of bi-directional flow of electricity, owing to increasing grid development.
  • Saudi Arabia plans to deploy 40 GW of solar power capacity and 20 GW of wind and other sources by 2030, which will create vast opportunities for smart grid players in the upcoming period.
  • South Saudi Arabia is aiming to develop and renovate its aging grid infrastructure. To meet the growing electricity demand, the South Saudi Arabian National Energy Development Institute (SANEDI) updated the South Saudi Arabian Smart Grid Initiative in 2017.

Scope of the report

Saudi Arabia smart grid market report include:

Technology Application Area
Transmission
Communication Technology
Advanced Metering Infrastructure (AMI)
Other Technology Application Areas

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Key Market Trends

Advanced Metering Infrastructure to Witness a Significant Growth

  • Advanced metering infrastructure (AMI) or smart metering is an integrated system of smart meters, communications networks, and data management systems that are fundamental in the smart grid and are expected to show considerable growth.
  • In 2019, Saudi Electricity Co awarded a project to install 10 million smart meters across Saudi Arabia as part of a broader plan to improve power distribution with an investment of USD 2.5 billion.
  • According to a report in 2018, Middle East & North Africa Region Forecast to Invest USD 17.6 Billion in Smart Grid Infrastructure by 2027, which will drive the smart meter market. Saudi Arabia is expected to hold a significant share in that investment.
  • Saudi Arabia has witnessed significant growth in electricity production in 2018, which is expected to grow in the forecast period. With 333 TWh in 2014 to 383 TWh in 2018, electricity production with new power plants and new grid network has increased the demand for smart grid and smart meters as well.
  • With the increasing efforts to modernize the electricity grid and reduce transmission and distribution losses, Saudi Arabia is investing in advance metering infrastructure. This, in turn, is expected to drive the AMI market during the forecast period.

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Upcoming Projects and Renewable Energy Driving the Market

  • In 2019, according to Saudi Electricity Company, electricity consumption rose to more than 128 TWh in the residential sector, whereas net use recorded a drop from 283 TWh in 2018 to 279 TWh in 2019. A surge in acceptance of smart electricity in the residential sector is further expected with this.
  • By 2018, a total of 78 new transmission substations and 15 reinforced existing transmission substations with a transformation capacity of 45,351 MVA that were connected to the network via overhead lines and ground cables with a length of 4,474 km-circular.
  • The 300 MW Sakaka Solar Power Plant Project was signed on February 14, 2018, with the project company Aqua Power Saudi Arabia, which is expected to be completed by the end of 2020 and is expected to drive the grid network significantly.
  • Saudi Arabia is planning to deploy 40 GW of solar power capacity and 20 GW of wind and other sources by 2030. Such large-scale deployment is expected to drive the smart grid market in the forecast period.
  • Therefore, the above mentioned projects coupled with ambitious renewable goals, Saudi Arabia is expected to witness considerable growth in the smart grid market.

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Competitive Landscape

The Saudi Arabia smart grid network is partially consolidated. Some of the major companies include General Electric Company, ABB Ltd, CG Power and Industrial Solutions Ltd, Saudi Electricity Company, Honeywell International Inc, and others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology Application Area

      1. 5.1.1 Transmission

      2. 5.1.2 Communication Technology

      3. 5.1.3 Advanced Metering Infrastructure (AMI)

      4. 5.1.4 Other Technology Application Areas

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 CG Power and Industrial Solutions Ltd

      2. 6.3.2 General Electric Company

      3. 6.3.3 ABB Ltd

      4. 6.3.4 Schneider Electric SE

      5. 6.3.5 Honeywell International Inc

      6. 6.3.6 Saudi Electric Company

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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