Report Overview

An increasing demand for energy efficiency and conservation and government initiatives and regulations to reduce energy consumption and greenhouse gas emissions are expected to boost the growth of UAE power management system market during the forecast period between 2023 and 2029.

UAE Power Management System Market - Industry Trends & Forecast Report, 2029

UAE power management system market size is projected to grow at a CAGR of 6.22% during the forecast period of 2023–2029. Major growth factors for the UAE power management system market include increasing adoption of technology advancements, upgraded software, an expanding industrial sector, and a developing shipbuilding industry. Solutions for energy management are more common now than ever before since they provide businesses with a competitive edge, boost output, and lower energy costs.

UAE Power Management System Market – Overview

A power substation or electrical power production system's electrical power management system (EPMS) is an electronic device that offers detailed data on the power flow. Power systems and power-related events are recorded and provided via EPMS. An all-inclusive power management solution includes an electrical SCADA, an electrical monitoring and control system (EMCS), energy accounting, event playback, load forecasting, real-time predictive modeling, and more. power management systems aid in ensuring that electrical distribution systems, along with the assets attached to them, operate in a safe, dependable, efficient, and compliant manner.

UAE Power Management System Market

Growth Drivers

Increasing Demand for Energy Efficiency and Conservation

The National Water and Energy Demand Management Project was started by the UAE's Ministry of Energy and Infrastructure to increase energy efficiency. The program will include many measures, such as reducing energy consumption by 40%, increasing the proportion of renewable energy in the energy mix to 50%, and increasing water reuse by 95%. power management systems aid in ensuring that electrical distribution networks, along with the assets connected to them, operate in a safe, dependable, efficient, and compliant manner. They can assist by preventing shock and electrical fires. Improve the speed and safety of recovery from disruptions.

Restraints

Increasing Data Security Concerns

The development of the UAE power management system may be hampered by the growing concern about data security brought on by the usage of IoT and cloud platforms and other advances in technology. These devices collect data about physical operations and procedures and send it over to the network. Several outputs offer independent or network-driven controls for various devices and systems. Because of cybercrimes and data abuse, the market's expansion over the projection period might be hampered.

Impact of COVID-19 on UAE Power Management System Market

The unprecedented COVID-19 pandemic in the UAE hindered the development of the power management system. The energy sector's infrastructure development was put on hold at the height of the outbreak, which had a dramatic impact on the uptake of power management systems. Yet, a rise in demand for home energy usage has allowed the sector to survive. Lockdown restrictions have expanded activities that may be done at home, including internet shopping, remote work, running home appliances, cooling or heating homes, and using streaming entertainment services.

UAE Power Management System Market

Segmental Coverage

UAE Power Management System Market – By Component Type

Based on component type, the UAE power management system market is segmented into hardware, software, and services. Due to the country's growing usage of IoT, cloud platforms, and industry-wide automation adoption, the software segment now holds a majority of the market share for power management systems in the UAE. Moreover, technology advancements, the availability of inexpensive labor, and low manufacturing costs are some of the key reasons that fuel market expansion. Other important aspects include the rise in interest in EMS across various business verticals.

UAE Power Management System Market – By Module

Based on modules, the UAE power management system market is segmented into power monitoring & control, load shedding & management, power simulator, generator control, and others. The power monitoring & control segment accounts for the highest market share. One of the keys to avoid unplanned downtime and the astronomical expenditures that come with it is power monitoring. A power monitoring solution plays a crucial role in other significant data center difficulties, such as enhancing energy efficiency and assisting with improved capacity planning, beyond identifying power issues that might result in outages.

UAE Power Management System Market – By Application

Based on application, the UAE power management system market is segmented into marine, oil & gas, data centers, metals & mining, and others. The marine segment holds the highest share in the UAE power management system market. The marine power management system (PMS) is a full-featured switchboard and generator management system that automatically distributes the load across the power plant's generators to synchronize the ships' auxiliary engines. The "Emirates Maritime Network" was established by the UAE Ministry of Energy and Infrastructure to transform the Gulf state into a major international port and a prime location for maritime investment.

Competitive Landscape

Major players operating in the UAE power management system market include ABB Ltd., Schneider Electric SE, Siemens AG, Eaton Corporation plc, Honeywell International Inc., General Electric Company, Emerson Electric Co., Mitsubishi Electric Corporation, Rockwell Automation, Inc., and Legrand SA. 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

By Component Type

• Hardware

• Software

• Services

By Module

• Power Monitoring and Control

• Load Shedding and Management

• Power Simulator

• Generator Control

• Others

By Application

• Marine

• Oil & Gas

• Data Centers

• Metals & Mining

• Others