(MENAFN- GlobeNewsWire - Nasdaq) The surge & lightning arrestors market in Saudi Arabia is witnessing a growing demand for surge protection systems tailored to renewable energy installations, particularly solar power generation. Saudi Arabia has been actively diversifying its energy sources, with a significant focus on renewable energy, such as solar. The country's abundant sunlight makes it an ideal location for solar power projects, and as the solar energy sector expands, so does the need for surge and lightning protection.Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Surge & Lightning Arrestors Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Surge & Lightning Arrestors Market was valued at USD 727.88 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.06% through 2029
Saudi Arabia is continuously investing in infrastructure projects, such as residential and commercial buildings, transportation networks, and industrial facilities. The construction and modernization of infrastructure necessitate the installation of surge and lightning protection systems to safeguard critical equipment and assets.
One prominent trend in the Saudi Arabia surge & lightning arrestors market is the increased emphasis on smart grids and automation. Smart grids are modern electrical distribution systems that utilize advanced technology to enhance the efficiency, reliability, and sustainability of the electrical grid. These grids are designed to respond dynamically to changes in power demand, integrate renewable energy sources, and provide real-time data for improved monitoring and control. As the Kingdom of Saudi Arabia continues to invest in infrastructure development and upgrade its electrical grid, the adoption of smart grid technology is becoming more prevalent.
Smart grids require robust surge and lightning protection systems to ensure the uninterrupted and safe operation of critical components. With the integration of various sensors, automation, and communication systems within the smart grid framework, the risk of damage from surges and lightning strikes is a significant concern. Lightning arrestors and surge protection devices are essential for safeguarding smart grid infrastructure, such as distribution automation equipment, substations, and data communication networks.
This trend is driven by the government's commitment to modernizing the energy sector and improving the reliability of power distribution. The Kingdom aims to reduce energy waste, enhance grid resiliency, and support the integration of renewable energy sources. As such, the surge & lightning arrestors market in Saudi Arabia is experiencing increased demand for specialized solutions designed to protect smart grid components and maintain grid stability in the face of adverse weather conditions and electrical surges.
As the Saudi Arabian government continues to invest in smart grid technology, this trend is expected to persist, offering growth opportunities for companies specializing in surge and lightning protection systems designed for smart grid applications.
Growing Demand for Renewable Energy Surge Protection
Solar photovoltaic (PV) systems are highly sensitive to power surges and voltage fluctuations, which can lead to reduced energy output and even damage to expensive PV panels and associated equipment. Lightning strikes are a common cause of power surges, and in a country with occasional severe weather conditions, protection against lightning is paramount.
Surge and lightning arrestors are critical components for safeguarding solar installations. They prevent the destructive effects of lightning strikes and other electrical surges, ensuring the continuous and efficient operation of PV systems. Additionally, the surge protection devices used in renewable energy applications must meet specific standards and certifications to ensure safety and performance.
Segmental Insights
Voltage Insights
In 2023, The High Voltage segment dominated the market due to the critical nature of high voltage equipment. With the country's ongoing development and infrastructure projects, the demand for high voltage surge and lightning protection is expected to grow. Saudi Arabia's electric utilities are investing significantly in the development and expansion of high voltage infrastructure. This includes the construction of new substations, transformers, and transmission lines. These installations require robust surge and lightning protection systems.
The oil and gas industry in Saudi Arabia is another significant consumer of high voltage equipment. Oil refineries, petrochemical plants, and extraction facilities often operate high voltage systems. The protection of these facilities is essential, and this drives the market for surge and lightning arrestors. The growth of renewable energy, including high voltage solar and wind installations, requires surge and lightning protection. As Saudi Arabia continues to diversify its energy sources, these installations become more common. High voltage systems are becoming more advanced and interconnected. This necessitates the use of modern surge and lightning protection technologies that offer higher performance, such as ultra-fast response times and remote monitoring.
Regional Insights
Riyadh dominated the market in 2023. Riyadh is experiencing rapid urbanization and infrastructure development, including the construction of commercial and residential buildings, as well as industrial complexes. This growth drives the need for surge and lightning protection in these structures. Riyadh is home to numerous commercial and industrial zones, such as the Riyadh Techno Valley and industrial cities like the Second Industrial City. These areas host critical electrical infrastructure, data centers, manufacturing facilities, and more, necessitating robust surge and lightning protection solutions.
As the capital city, Riyadh houses government offices, educational institutions, and public infrastructure. Protecting these assets from lightning strikes and electrical surges is crucial, and this creates a demand for surge protection. Riyadh and its surroundings have a significant presence of oil and petrochemical industries. These sectors often operate high voltage equipment and are highly vulnerable to lightning strikes. Surge and lightning protection solutions are essential to protect these assets.
Riyadh adheres to national and international standards related to electrical safety and protection. Compliance with these regulations is vital, particularly for critical infrastructure in Riyadh, further driving the market for surge and lightning arrestors. Due to the importance of maintaining and periodically testing surge and lightning protection systems, there is a growing market for maintenance and service providers in Riyadh.
Riyadh's role as the economic and industrial heart of Saudi Arabia contributes significantly to the demand for surge and lightning protection solutions. With the growth of various sectors, strict regulatory compliance, and the need to protect critical infrastructure and sensitive electronic equipment, the market for these solutions in Riyadh is expected to continue growing. Companies operating in this sector should tailor their offerings to address the unique needs and challenges of Riyadh's specific industrial and climatic conditions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 86 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $0.73 Billion |
| Forecasted Market Value (USD) by 2029 | $1.04 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Saudi Arabia |
Report Scope:
Key Market Players
ABB Limited Schneider Electric SE Siemens AG Eaton Corporation plc Hager Group Raycap Littelfuse, Inc. Yamuna Power & Infrastructure Ltd. Legrand Group DEHN SE
Saudi Arabia Surge & Lightning Arrestors Market, By Type:
Saudi Arabia Surge & Lightning Arrestors Market, By End User:
Utilities Industries Transportation
Saudi Arabia Surge & Lightning Arrestors Market, By Voltage:
Medium Voltage High Voltage Extra High Voltage
Saudi Arabia Surge & Lightning Arrestors Market, By Class:
Distribution Class Intermediate Class Station Class
Saudi Arabia Surge & Lightning Arrestors Market, By Region:
Riyadh Makkah Madinah Jeddah Tabuk Eastern Province Rest of Saudi Arabia
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Saudi Arabian Surge & Lightning Arrestors Market
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