This opportunity entails developing the value chain for the production of plug valves to serve KSA and the broader GCC market.
Overall demand for plug valves in Saudi Arabia has been increasing, estimated to be 9,900 units in 2019, and forecasted to increase at an annual growth rate of 3% to reach 11,400 units by 2022.
Beyond the KSA market, investors in Saudi have the opportunity to tap into the large regional market in the GCC, expected to increase from 13,100 units in 2018 to 14,900 units by 2022.
The main focus of this opportunity is to establish component and final manufacturing facilities to produce plug valves.
- Component manufacturing: establish manufacturing facilities for valve components (e.g., bodies, seats, stems, plugs…) by utilizing machining, cladding and heat treatment capabilities
- Final manufacturing and testing: setup after-sales support and technical assistance services, including storage, logistics, installation, maintenance, and other remedial work
However, additional opportunities for localization exist across the value chain of plug valve production. These opportunities include:
- Design: establish a plug and valve design capabilities in Saudi Arabia to cater for local requirements
- Input materials: localize production of elastomers and coating
- Input materials localize processing of steel and iron alloys (billets, forging, molding…) to plug valves specifications
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