This opportunity entails developing the value chain for the production of industrial fan blades to serve KSA and the broader GCC region.
Overall demand for industrial fan blades in Saudi Arabia has been increasing, estimated at USD 92 million in 2018. Driven by the wide range of application of axial fans in industrial cooling and ventilation exhaust fans, the demand is forecasted to increase at an annual growth rate of 7% to reach USD 164 million by 2025.
Beyond the KSA market, investors in Saudi have the opportunity to tap into the larger regional market in the GCC, expected to increase from USD 129 million in 2018 to USD 192 million by 2025.
The main focus of this opportunity is on welding, assembly, and inspection, and after sales and maintenance of industrial fan blades.
- Welding, assembly and inspection: establish local facilities for welding and assembly of industrial fans
- Welding, assembly and inspection: establish local facilities for inspection of industrial fans
- After-sales, testing and maintenance: localize testing facilities, and offer support services including maintenance and after-sales services
However, additional opportunities for localization exist across the value chain of industrial fan blades production. These opportunities include:
- Design: establish production of key material such as FRP, glass fiber, galvanized steel and epoxy resins
- Manufacturing: establish local manufacturing of key components such as blades, hubs, seal disks, plates and clamps
Sector