Boston, MA -- (SBWIRE) -- 07/24/2014 -- Saudi Arabia's power sector is set to register signi ficant growth over our 10 -year forecast period to 2023 as the k ingdom moves to realise some of the Middle East's most ambitious power generation capacity expansion plans. Our optimistic outlook is not only underpinned by the sheer scale of Saudi Arabia's ambitions for its power sector, but also relatively robust macroeconomic fundamentals and the fact the country is attempting to meet surging demand for electricity from a young and rapidly growing population . 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 .
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Underscoring the need for a transition to a more sustainable energy mix, a reliance on energy-intensive extractive industries and poor levels of energy efficiency, as well as increased reliance on gas- and oil-fired desalination, have spurred Saudi Arabia to begin developing an emerging energy efficiency masterplan - with the kingdom aiming to make energy efficiency savings that are equivalent to bringing 37 gigawatts (GW) of capacity online. In conjunction with the kingdom's ambitious plans to raise capacity and ensure renewables accounts for one-third of electricity generation by 2032, we expect efforts to secure hydrocarbons for export to continue to determine the future composition of the domestic energy mix to the end of our forecast period. Furthermore, we note if the integration of diversified generation capacity can be achieved, it will enhance the kingdom's ability to absorb economic shocks to its oil-dependent economy and maintain spare capacity over a much longer timeframe.
As the country looks...
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.
- 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.
- Target business opportunities and risks Saudi Arabia's power sector through our reviews of latest power industry trends, regulatory changes, and major deals, projects and investments in Saudi Arabia
- Assess the activities, strategy and market position of your competitors, partners and clients via our Competitive Landscape analysis.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis, covering power markets, regulatory changes, major investments, projects and company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the power sector, and within the broader political, economic and business environment.
The Regional Overview provides a comparative context from within which one can assess the relative profitability of the power industry in a given country, incorporating BMI's country risk macro forecasts into our regional analysis. They also detail any relevant issues or events that might cause market fluctuations, as well as evaluate the impact of existing power infrastructure and fresh investments on the regional market.
BMI Industry Forecasts
The Industry Forecasts provide historic data series and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual power segment present in the country. These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast. These in turn are broken down into:
Electricity Generation forecasts for Thermal, Coal, Gas, Oil, Nuclear, Hydro and Non-Hydro Renewables. For this section, we provide information on electricity generation (TWh), % growth year-on-year, KWh per capita, and the % of total electricity generation. The thermal fuels (coal, gas and oil) also have figures for their % of total thermal electricity generation.
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