New Market Research Report: Saudi Arabia Power Report Q4 2014

From: Fast Market Research, Inc.
Published: Fri Nov 14 2014

We have maintained our outlook for Saudi Arabia this quarter and we expect the kingdom's power sector to register signi ficant growth over our 10 -year forecast period to 2023 . Our positive view of the market is not only underpinned by the sheers scale of Saudi Arabia's power generation expansion plans , but also by robust macroeconomic fundamentals and the surging demand for electricity from its growing population and heavy industries . Further, with Saudi Arabia holding one- fifth of global oil reserves, it is also endeavouring to alter its oil-heavy power generation mix to preserve its outsized role in global oil markets . This aim is perhaps the biggest driver of Saudi energy policy and underpins efforts to dive rsify the energy mix to utilise greater volumes of gas, as well as nuclear, renewables and the implementation of energy efficiency measures .

Saudi Arabia's power market faces a need to satisfy a rapidly growing domestic electricity demand, a reliance on energy-intensive extractive industries and the urge to transition to a less hydrocarbon-heavy energy mix to save oil for exports. These factors have spurred the country to devise an ambitious energy strategy for the next two decades, according to which the kingdom will have more than 120MW of installed capacity by 2032, with renewable and nuclear power accounting for 55MW and 17.6MW respectively. Moreover, the country aims at making energy efficiency savings that are equivalent to bringing 37GW of capacity online. As such, we forecast that electricity consumption will grow at an average 4.82% y-o-y between 2014 and 2023, reaching 401.12TWh by the end of our 10-year forecast to 2023. This will be matched by growth in power generation at annual average of 4.67% between 2014 and 2023, when we forecast the kingdom will generate 437.12TWh.

Full Report Details at

We expect efforts to secure oil for exports to continue to determine the future composition of the domestic energy...

The Saudi Arabia Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Saudi Arabia Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

* Use BMI's independent industry forecasts for Saudi Arabia to test other views - a key input for successful budgeting and strategic planning in the power market.

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