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Gcc Industrial Electrical Component Market

Gcc Industrial Electrical Component Market

GCC Industrial Electrical Component Market, By Product Type (Transformers, Switchgears, Circuit Breakers, Relay, Contactors, Others); By Sales Channel (OEMs, Aftermarket); By Application (Power Generation, Manufacturing, Oil & Gas, Construction, Water & Wastewater Management, Others); By End User (Energy & Power, Automotive, Aerospace, Telecommunications, Consumer Electronics, Others); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman), Trend Analysis, Competitive Landscape & Forecast, 2019–2031

  • Published Date: January 2025
  • Report ID: BWC25048
  • Available Format: PDF
  • Page: 224

Report Overview

Rapid urbanization and industrialization, growing popularity of renewable energy, increasing number of infrastructure projects driven by government policies for smart grids, electrification, and IoT integration are expected to drive GCC Industrial Electrical Component Market during the forecast period between 2025 and 2031.

GCC Industrial Electrical Component Market – Industry Trends & Forecast Report, 2031

GCC Industrial Electrical Component Market size was estimated at USD 1.7 billion in 2024. During the forecast period between 2025 and 2031, GCC Industrial Electrical Component Market size is projected to grow at a CAGR of 6.20% reaching a value of USD 2.6 billion by 2031. GCC Industrial Electrical Component Market is experiencing significant growth, due to several driving factors. Urbanization and industrial growth are leading to increased demand for electrical components across various sectors. The adoption of renewable energy sources, such as solar and wind power, is driving the need for advanced electrical systems and components. Infrastructure projects, including the development of smart cities and transportation networks, are also contributing to market expansion. Additionally, technological advancements in automation, IoT-enabled devices, and energy management systems are enhancing operational efficiency and reducing costs. Government policies and incentives supporting energy efficiency and electrification projects further encourage market growth.

GCC Industrial Electrical Component Market

Industrial Electrical Component – Overview

Industrial electrical components are essential for the operation of machinery and equipment in various sectors. These components include transformers, switchgear, generators, busbars, circuit breakers, motors, control panels, and lighting systems. They ensure the efficient distribution, control, and protection of electrical energy within industrial installations. Proper selection and maintenance of these components are crucial for operational efficiency, safety, and cost-effectiveness. Advanced technologies, such as IoT and smart grids, are increasingly integrated to enhance performance and energy management.

GCC Industrial Electrical Component Market

Growth Drivers

Rapid Industrialization and Economic Diversification Initiatives

Rapid industrialization and economic diversification initiatives in GCC countries are key growth drivers for the Industrial Electrical Component Market. GCC nations are heavily investing in industrial infrastructure to reduce their dependence on hydrocarbons. Initiatives like Saudi Arabia's Vision 2030 and the UAE's industrial revenue targets aim to boost manufacturing and create resilient, knowledge-based economies. These efforts drive demand for advanced electrical components, supporting sectors like smart manufacturing, renewable energy, and smart cities. The focus on technological innovation and sustainability further propels market growth.

Challenges

Fluctuations in Raw Material Prices

Fluctuations in raw material prices impacting production costs are a significant restraint on GCC Industrial Electrical Component Market. The volatility in prices of key raw materials like copper, aluminum, and steel affects production costs, squeezing profit margins. Manufacturers face challenges in maintaining stable pricing and profitability, as these fluctuations can lead to increased costs of goods sold (COGS). Additionally, the unpredictability of raw material costs complicates budgeting and financial planning, making it difficult for companies to sustain growth and competitiveness in the market.

Impact of Escalating Geopolitical Tensions on GCC Industrial Electrical Component Market

Escalating geopolitical tensions could have a significant impact on GCC Industrial Electrical Component Market. Military, political, and economic tensions could disrupt global supply chains, leading to delays and increased costs for electrical components. Trade disputes and sanctions can limit the availability of essential materials like copper and aluminum, driving up prices. Additionally, geopolitical instability can deter foreign investments and partnerships, which are crucial for large-scale industrial projects. These challenges can slow down project timelines and increase overall project costs, affecting the profitability and growth of the industrial electrical component market in the GCC.

GCC Industrial Electrical Component Market

Segmental Coverage

GCC Industrial Electrical Component Market – By Product Type

Based on product type, GCC Industrial Electrical Component Market is divided into Transformers, Switchgears, Circuit Breakers, Relay, Contactors, and other product types segments. The transformers segment is typically the largest product type in GCC Industrial Electrical Component Market. This dominance is driven by the region's extensive infrastructure development, urbanization, and growing energy demand, particularly in countries like Saudi Arabia, UAE, and Qatar. Transformers play a crucial role in electricity distribution and transmission networks, which are expanding due to increased investments in renewable energy projects and industrial growth. Additionally, the need for reliable and efficient power supply systems in the oil and gas, construction, and manufacturing sectors further propels the demand for transformers, making it the leading segment of the market.

GCC Industrial Electrical Component Market – By Sales Channel

By sales channel, GCC Industrial Electrical Component Market is divided into OEMs and Aftermarket segments. The OEM (Original Equipment Manufacturer) segment emerges as a larger sales channel in GCC Industrial Electrical Component Market. This dominance is attributed to the robust industrial and infrastructure development across GCC countries, particularly in sectors like oil and gas, construction, and manufacturing. OEMs drive demand for high-quality, customized electrical components to ensure operational efficiency and adherence to stringent safety and performance standards. Moreover, government initiatives promoting industrial automation and renewable energy projects further bolster this segment. While the aftermarket segment also plays a crucial role, its scale is comparatively smaller due to the heavy reliance on OEMs for initial installations and upgrades.

GCC Industrial Electrical Component Market Size

GCC Industrial Electrical Component Market – By Application

GCC Industrial Electrical Component Market by application is divided into Power Generation, Manufacturing, Oil & Gas, Construction, Water & Wastewater Management, and other applications segments. The oil & gas sector is the largest application in GCC Industrial Electrical Component Market, due to the region's substantial investments in refining and petrochemical infrastructure, particularly in Saudi Arabia. For instance, Saudi Aramco's plans to invest over USD 100 billion in new refining and chemical projects over the next decade highlight this trend. Additionally, the increasing demand for electric motors and starters in the oil and gas industry further reinforces its leading position in the market.

GCC Industrial Electrical Component Market Share

GCC Industrial Electrical Component Market – By End User

On the basis of end user, GCC Industrial Electrical Component Market is divided into Energy and Power, Automotive, Aerospace, Telecommunications, Consumer Electronics, and other end users segments. The energy & power segment is the largest end user in GCC Industrial Electrical Component Market. This dominance is driven by substantial investments in infrastructure and efforts to diversify economies away from oil dependency. For instance, Saudi Arabia's National Industrial Development and Logistics Program (NIDLP) promotes sectors like refining, mining, logistics, and energy, boosting demand for electric motors and starters. Additionally, interconnection projects within GCC countries and neighboring nations, such as Jordan and Iraq, connecting to the GCC's interconnection grid to address their supply shortfalls, further enhance this segment's prominence.

GCC Industrial Electrical Component Market Demand

GCC Industrial Electrical Component Market – By Country

Geographically, GCC Industrial Electrical Component Market is divided into Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman. Saudi Arabia holds the largest share of GCC Industrial Electrical Components Market. The dominance is driven by substantial investments in infrastructure and efforts to diversify its economy away from oil dependency. The country's National Industrial Development and Logistics Program (NIDLP) promotes sectors such as refining, mining, logistics, and energy, increasing the demand for electric motors and starters. Additionally, interconnection projects within GCC countries and with neighbors like Jordan and Iraq are expected to create further opportunities in the market.

Competitive Landscape

Major companies operating in GCC Industrial Electrical Component Market include Saudi Power Transformer Company, GEDAC Electric Company, TIEPCO, Electrical Industries Company (EIC), National Electrical Industries, Bahwan Engineering Group, Prime Electrical Manufacturing, AMETECH, Ascon, and Blitz Bahrain. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2031

Base Year – 2024

Estimated Year – 2025

Forecast Period – 2025–2031

Facts Covered

Revenue in USD Billion

Market Coverage

Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman

Product/ Service Segmentation

Product Type, Sales Channel, Application, End User, Country

Key Players

Saudi Power Transformer Company, GEDAC Electric Company, TIEPCO, Electrical Industries Company (EIC), National Electrical Industries, Bahwan Engineering Group, Prime Electrical Manufacturing, AMETECH, Ascon, Blitz Bahrain

 

By Product Type

  • Transformers

  • Switchgears

  • Circuit Breakers

  • Relay

  • Contactors

  • Others

By Sales Channel

  • OEMs

  • Aftermarket

By Application

  • Power Generation

  • Manufacturing

  • Oil & Gas

  • Construction

  • Water & Wastewater Management

  • Others

By End User

  • Energy & Power

  • Automotive

  • Aerospace

  • Telecommunications

  • Consumer Electronics

  • Others

By Country

  • Saudi Arabia

  • UAE

  • Qatar

  • Bahrain

  • Kuwait

  • Oman

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. GCC Industrial Electrical Component Market Insights
    1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
        1. Rapid industrialization and economic diversification initiatives in GCC countries
        2. Increasing investments in infrastructure and construction projects
        3. Rising demand for energy-efficient electrical components
      3. Restraints
        1. High initial costs associated with advanced industrial electrical component
        2. Fluctuations in raw material prices impacting production costs
      4. Opportunities
        1. Development of smart cities and digital infrastructure projects.
        2. Increasing focus on energy conservation and green technologies.
      5. Challenges
        1. Skilled labor shortages for installation and maintenance of advanced systems.
        2. Economic dependency on oil prices affects industrial investment cycles.
    2. Technological Advancement/Recent Developments
    3. Regulatory Framework
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. GCC Industrial Electrical Component Market: Marketing Strategies
  5. GCC Industrial Electrical Component Market: Pricing Analysis
  6. GCC Industrial Electrical Component Market Overview
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
        1. Transformers
        2. Switchgear
        3. Circuit Breakers
        4. Relay
        5. Contactors
        6. Others
      2. By Sales Channel
        1. OEM
        2. Aftermarket
      3. By Application
        1. Power Generation
        2.  Manufacturing
        3. Oil and Gas
        4. Construction
        5.  Water and Wastewater Management
        6. Others
      4. By End User
        1. Energy and Power
        2.  Automotive
        3.  Aerospace
        4.  Telecommunications
        5. Consumer Electronics
        6. Others
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. Qatar
        4. Bahrain
        5. Kuwait
        6. Oman
  7. Saudi Arabia Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  8. UAE Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  9. Qatar Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  10. Bahrain Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  11. Kuwait Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  12. Oman Industrial Electrical Component Market
    1. Market Application & Forecast, 2019–2031
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By Application
      4. By End User
      5. By Industry Vertical
  13. Competitive Landscape
    1. List of Key Players and Their Product Types
    2. GCC Industrial Electrical Component Company Market Share Analysis, 2024
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
  14. Impact of Geopolitical Tensions on GCC Industrial Electrical Component Market
  15. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Saudi Power Transformer Company
    2. GEDAC Electric Company
    3. TIEPCO
    4. Electrical Industries Company (EIC)
    5. National Electrical Industries
    6. Bahwan Engineering Group
    7. Prime Electrical Manufacturing
    8. AMETECH
    9. Ascon
    10. Blitz Bahrain
    11. Other Prominent Players
  16. Key Strategic Recommendations
  17. Research Methodology
    1.       Qualitative Research
      1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Country
    5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       GCC Industrial Electrical Component Segmentation

Figure 2       GCC Industrial Electrical Component Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2024

Figure 4       GCC Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 5       GCC Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 6       GCC Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 7       GCC Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 8       GCC Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 9       GCC Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 10     GCC Industrial Electrical Component Market Share, By Country, By Value (USD Million), 2019−2031

Figure 11     Saudi Arabia Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 12     Saudi Arabia Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 13     Saudi Arabia Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 14     Saudi Arabia Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 15     Saudi Arabia Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 16     Saudi Arabia Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 17     UAE Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 18     UAE Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 19     UAE Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 20     UAE Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 21     UAE Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 22     UAE Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 23     Qatar Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 24     Qatar Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 25     Qatar Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 26     Qatar Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 27     Qatar Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 28     Qatar Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 29     Bahrain Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 30     Bahrain Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 31     Bahrain Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 32     Bahrain Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 33     Bahrain Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 34     Bahrain Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 35     Kuwait Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 36     Kuwait Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 37     Kuwait Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 38     Kuwait Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 39     Kuwait Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 40     Kuwait Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Figure 41     Oman Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Figure 42     Oman Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Figure 43     Oman Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Figure 44     Oman Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Figure 45     Oman Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Figure 46     Oman Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

 

List of Tables

 

Table 1        GCC Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 2        GCC Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 3        GCC Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 4        GCC Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 5        GCC Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 6        GCC Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 7        GCC Industrial Electrical Component Market Share, By Country, By Value (USD Million), 2019−2031

Table 8        Saudi Arabia Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 9        Saudi Arabia Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 10      Saudi Arabia Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 11      Saudi Arabia Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 12      Saudi Arabia Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 13      Saudi Arabia Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 14      UAE Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 15      UAE Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 16      UAE Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 17      UAE Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 18      UAE Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 19      UAE Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 20      Qatar Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 21      Qatar Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 22      Qatar Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 23      Qatar Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 24      Qatar Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 25      Qatar Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 26      Bahrain Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 27      Bahrain Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 28      Bahrain Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 29      Bahrain Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 30      Bahrain Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 31      Bahrain Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 32      Kuwait Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 33      Kuwait Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 34      Kuwait Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 35      Kuwait Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 36      Kuwait Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 37      Kuwait Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 38      Oman Industrial Electrical Component Market Application, By Value (USD Million), 2019−2031

Table 39      Oman Industrial Electrical Component Market Share, By Product Type, By Value (USD Million), 2019−2031

Table 40      Oman Industrial Electrical Component Market Share, By Sales Channel, By Value (USD Million), 2019−2031

Table 41      Oman Industrial Electrical Component Market Share, By Application, By Value (USD Million), 2019−2031

Table 42      Oman Industrial Electrical Component Market Share, By End User, By Value (USD Million), 2019−2031

Table 43      Oman Industrial Electrical Component Market Share, By Industry Vertical, By Value (USD Million), 2019−2031

Table 44      Saudi Power Transformer Company: Company Overview

Table 45      Saudi Power Transformer Company Financial Overview

Table 46      GEDAC Electric Company: Company Overview

Table 47      GEDAC Electric Company Financial Overview

Table 48      TIEPCO Company Overview

Table 49      TIEPCO Financial Overview

Table 50      Electrical Industries Company (EIC) Company Overview

Table 51      Electrical Industries Company (EIC) Financial Overview

Table 52      National Electrical Industries Company Overview

Table 53      National Electrical Industries Financial Overview

Table 54      Bahwan Engineering Group Company Overview

Table 55      Bahwan Engineering Group Financial Overview

Table 56      Prime Electrical Manufacturing Company Overview

Table 57      Prime Electrical Manufacturing Financial Overview

Table 58      AMETECH Company Overview

Table 59      AMETECH Financial Overview

Table 60      Ascon Company Overview

Table 61      Ascon Financial Overview

Table 62      Blitz Bahrain Company Overview

Table 63      Blitz Bahrain Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: GCC Industrial Electrical Component Market size by value was estimated at USD 1.7 billion in 2024.
Ans: GCC Industrial Electrical Component Market is expected to grow at a CAGR of 6.20% during the forecast period between 2025 and 2031.
Ans: By 2031, GCC Industrial Electrical Component Market size is forecast to reach a value of USD 2.6 billion.
Ans: The growth of GCC Industrial Electrical Component Market is primarily driven by urbanization, industrial growth, renewable energy adoption, infrastructure projects, technological advancements, energy demand, government policies, smart grids, electrification, and IoT integration.
Ans: Key players in GCC Industrial Electrical Component Market include Saudi Power Transformer Company, GEDAC Electric Company, TIEPCO, Electrical Industries Company (EIC), National Electrical Industries, Bahwan Engineering Group, Prime Electrical Manufacturing, AMETECH, Ascon, and Blitz Bahrain.
Ans: The transformers segment is expected to grow at the fastest CAGR in GCC Industrial Electrical Component Market during the forecast period between 2025 and 2031.
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