Middle East Electricity Infrastructure Buildout Driven by Growing Demand and Electrification Goals
• Growing energy demand in Middle East to support electrification goals, with electricity production reaching 1,240 TWh in 2021
• Construction of new substations to meet demand for electricity transmission
• Utilities sector held significant market share of switchgears in 2023 due to focus on modernizing power infrastructure
• High voltage switchgear accounted for large market share in 2023, used extensively in power plants
• Prominent players include Hitachi Energy, Schneider Electric, General Electric, NR Electric, ABB, Toshiba, Mitsubishi Electric, Siemens, Larsen & Turbo, and Areva