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Saudi Arabia Power Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4828212
  • Report
  • Region: Saudi Arabia
  • 110 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ACWA Power
  • Engie SA
  • Fluor Corporation
  • MORE
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 2019 – 2024. 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.
  • Gas-fired power generation has dominated the market in 2018 and is expected to continue its dominance during the forecast period.
  • 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.
Key Market Trends

Gas-fired Power Generation to Dominate the Market
  • In 2018 natural gas-fired power generation accounted for more than half of the electricity generated in Saudi Arabia. Gas-fired power generation is expected to become increasingly dominant in Saudi Arabia as the government focuses on decreasing the power sector's reliance on oil.
  • The steep rise in gas output has not been enough to satisfy domestic demand in Saudi Arabia as consumption has also grown just as rapidly as production has in the last ten years. Competing demands in the Kingdom, primarily from petrochemicals and electricity generation has consistently consumed all its gas.
  • Boosting natural gas production from 12 billion cubic feet per day (Bcf/d) to 17.8 Bcf/d by 2020 is a significant goal of the NTP in Saudi Arabia. In addition, the Saudi government aims to increase the use of gas for domestic power generation in, thereby, reducing oil burning at home and freeing up more crude for export.
  • The need to cater the increasing power demand in the coming years means gas is likely to play a crucial role in the Saudi Arabia power sector. As a result, gas development has been targeted in both the National Transformation Program (NTP 2020) and the Saudi Vision 2030. Furthermore, as renewable energy targets are likely to be scaled back, the Saudi government emphasizes natural gas to play a more significant role in the Saudi economy.
Competitive Landscape

The Saudi Arabia power market is consolidated. Some of the major companies include Saudi Electricity Company (SEC), ACWA Power, Power and Water Utility Company (MARAFIQ), and Engie SA.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ACWA Power
  • Engie SA
  • Fluor Corporation
  • MORE
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 Forecast in GW, till 2024
4.3 Net Energy Import/Export Forecast For Next 10 Years
4.3.1 Primary Energy: Consumption (2000-2018)
4.3.2 Primary Energy: Consumption, by Fuel Type (2010-2018)
4.3.3 Total Primary Energy Supply (TPES) (2018)
4.3.4 Electricity Consumption and Production Forecast in terawatt hours (TWh), until 2026
4.4 Load Patterns
4.4.1 Annual Peak Load in MW (2000-2018)
4.4.2 Annual Peak Load Growth Rate (2000-2018)
4.4.3 Peak Load & Available Capacities Comparison for 2018
4.4.4 Average Weekly Peak Load on National Grid in MW for 2018
4.4.5 Average Typical Daily Load Curve in GW for 2018
4.4.6 Peak Load in Megawatt (MW), by Region (2012-2018)
4.5 Cost Of Electricity Generation
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 PESTLE Analysis

5 MARKET SEGMENTATION
5.1 Saudi Arabia Power Generation Scenario
5.1.1 Market Overview
5.1.2 Installed Power Capacity, by Fuel Type
5.1.2.1 Oil
5.1.2.2 Gas
5.1.2.3 Renewable
5.1.2.4 Nuclear
5.1.3 Key projects
5.1.3.1 Projects in Pipeline
5.1.3.2 Upcoming Projects
5.1.4 Power Generation in Saudi Arabia
5.1.5 Power Consumption in Saudi Arabia
5.1.6 Key Players
5.1.6.1 Domestic
5.1.6.2 International
5.2 Saudi Arabia Power Transmission & Distribution Network
5.2.1 Market Overview
5.2.2 Power Transmission & Distribution Infrastructure, by Capacity
5.2.3 Power Transmission & Distribution Infrastructure, by Length
5.2.4 Key Projects
5.2.4.1 Projects in Pipeline
5.2.4.2 Upcoming Projects
5.2.5 Key Players
5.2.5.1 Domestic
5.2.5.2 International

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Key Company Profiles
6.3.1 Saudi Electricity Company (SEC)
6.3.2 ACWA Power
6.3.3 Power and Water Utility Company (MARAFIQ)
6.3.4 Engie SA
6.3.5 Doosan Heavy Industries & Construction Co. Ltd
6.3.6 Fluor Corporation
6.3.7 Shandong Electric Power Construction Corporation III (SEPCO III)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Saudi Electricity Company (SEC)
  • ACWA Power
  • Power and Water Utility Company (MARAFIQ)
  • Engie SA
  • Doosan Heavy Industries & Construction Co. Ltd
  • Fluor Corporation
  • Shandong Electric Power Construction Corporation III (SEPCO III)
Note: Product cover images may vary from those shown
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