Forecast: Import of Electric Motors and Generators to Saudi Arabia

The import of electric motors and generators to Saudi Arabia has shown a declining trend from 2013 to 2023, decreasing from $523.6 million to $185.69 million. The year-on-year variation in 2022 and 2023 were -6.55% and -6.87%, respectively, indicating a consistent downward trend. Over the last five years leading to 2023, the compounded annual growth rate (CAGR) was -2.85%. Forecasts suggest this downward trend will continue, with a forecast CAGR of -7.73% from 2024 to 2028, leading to an estimated value of $114.17 million in 2028.

Future trends to watch for include:

• Technological advancements and the potential for domestic manufacturing of electric motors and generators.
• Policy changes towards renewable energy sources and their impact on the demand for imported electric motors.
• Economic diversification initiatives under Saudi Vision 2030 and their influence on industrial import needs.