Middle East power transformer market is set to grow at a CAGR of 10% from 2023 to 2030, driven by infrastructure development, clean energy transitions, and regional strategies. Key growth factors include Gulf nations’ infrastructure projects, expansion of electrical networks with over 600,000 MVA capacity additions by 2030, and renewable energy targets, particularly in Saudi Arabia, the UAE, and Oman. 

However, project delays, notably in Saudi Arabia and Egypt, and Egypt’s economic difficulties—due to inflation, currency devaluation, and reliance on foreign investments—could slow the market’s growth. To mitigate challenges linked to high costs and supply chain dependency, the region is increasingly focusing on local production. New ventures like Saudi Voltamp and expansions by the Saudi Power Transformers Company are expected to boost local manufacturing capacity. 

Major OEMs, including Hitachi Energy, Siemens, and General Electric, currently hold 60% of the market share. As local production grows, reliance on imports is expected to decrease, offering a buffer against global supply chain disruptions. Despite short-term challenges, regional initiatives to expand grid capacity and support renewable goals suggest a positive long-term outlook for the Middle East power transformer market. The article is authored by Syeda Maheen Mahmood, an analyst at PTR specializing in power transformers and power quality equipment. 

Follow this link to learn more: Middle East transformer market: The hurdles and driving forces 

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