This opportunity entails developing the value chain for the production of electrical inverters to serve KSA and the broader GCC region.
The overall demand for electrical inverters in Saudi Arabia has been growing, estimated at USD 856 million in 2018 and forecasted to increase at an annual growth rate of 3% to reach USD 949 million by 2022. Pure sine wave, polar photovoltaic off-grid and grid connected inverters are the most widely used inverters in Saudi Arabia.
Beyond the KSA market, investors in Saudi have the opportunity to tap into the large regional market in the GCC with an expected increase in demand from USD 680 Mn in 2018 to USD 754 Mn by 2022.
The focus of this opportunity is on final manufacturing and components manufacturing of electrical inverters. These opportunities entail:
- Component manufacturing: establish manufacturing facilities for electronics (including microcontrollers), enclosures and terminals
- Final manufacturing: establish final manufacturing and system parts integration facilities for inverters
However, there are additional opportunities across the electrical inverters manufacturing value chain. Opportunities include:
- Design: establish design facilities to customize inverters to customer needs and specifications
- Input materials: establish facility to manufacture silicon, copper, aluminum, polymers to meet the specifications needed for components
- After-sales: establish facilities to install and test inverters
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