Saudi Arabia Power Market Size, Trends & Insightful Analysis 2025-2033

Saudi Arabia Power Market Overview

Market Size in 2024: 81.7 GW

Market Forecast in 2033: 104.4 GW

Market Growth Rate 2025-2033: 2.76%

According to IMARC Group's latest research publication, "Saudi Arabia Power Market Size, Share, Trends and Forecast by Generation Source, and Region, 2025-2033", The Saudi Arabia power market size was valued at 81.7 GW in 2024. Looking forward, IMARC Group estimates the market to reach 104.4 GW by 2025-2033, exhibiting a CAGR of 2.76% from 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Power Market

• AI is enhancing Saudi Arabia’s power market by optimizing grid management, predicting demand, and reducing energy losses, boosting efficiency and supporting integration of renewable sources.
• Government programs under Vision 2030 allocate significant funding to AI-driven smart grid projects, accelerating digital transformation and ensuring a resilient, flexible electricity network across the Kingdom.
• Leading energy companies use AI for predictive maintenance of power plants and transmission infrastructure, minimizing downtime and extending asset lifespans through data-driven insights.
• AI-powered analytics enable real-time monitoring and fault detection, improving power quality and reliability while supporting rapid response to outages in industrial and urban areas.
• The surge in renewable energy capacity aligns with AI-enhanced energy storage and balancing systems, helping Saudi Arabia maintain grid stability amid rising clean energy adoption and growing demand.

Download a sample PDF of this report: https://www.imarcgroup.com/saudi-arabia-power-market/requestsample

Saudi Arabia Power Market Trends & Drivers:

Saudi Arabia's power market growth is driven by its Vision 2030 initiative, which focuses on diversifying energy sources and modernizing the energy sector. Large-scale investments in renewable energy projects—such as solar and wind—are replacing traditional oil-based power generation. For instance, recent power purchase agreements for solar projects like Haden and Muwayh collectively add thousands of megawatts to the grid, supported by investments exceeding $3 billion. These efforts aim to reduce oil dependency, enhance sustainability, and create a resilient electricity network that meets the rising demand fueled by rapid population growth and industrial expansion.

Rising industrialization and urbanization intensify electricity consumption, with sectors like petrochemicals, manufacturing, and mining demanding reliable and scalable power supplies. Saudi Arabia's expanding industrial cities and special economic zones accelerate this demand, pushing for new power plants and upgraded infrastructure. In 2024 alone, power purchase agreements worth billions were signed to add more gas-fired and renewable power capacity, ensuring energy security. This growing consumption compels continuous development of generation, transmission, and distribution networks, facilitating the Kingdom’s economic diversification and supporting megaprojects such as NEOM.

Emerging trends include advanced grid modernization and adoption of smart technologies. Saudi Arabia is integrating smart grid systems, digital monitoring, and automation to enhance energy efficiency and reduce transmission losses. There is a strong push for energy storage solutions that complement renewable energy sources and stabilize the grid. Government-backed programs also promote private sector participation and innovative energy solutions. Key projects harness AI, IoT, and renewable infrastructure to transform power delivery, aligning with climate commitments and Vision 2030 goals to achieve a more sustainable, efficient, and diversified power ecosystem across the Kingdom.

Saudi Arabia Power Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Generation Source:

• Thermal
• Hydro
• Renewable
• Others

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

• Saudi Electricity Company (SEC)
• National Grid SA
• Acwa Power
• Kepco
• SPPC

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Power Market

• 2025 August: The Kingdom deployed 32% automated smart grid systems with plans to reach 40%, integrating AI and IoT for improved grid efficiency and renewable energy management, supporting Vision 2030 goals.
• 2025 July: Saudi Arabia signed contracts worth $8.3 billion to develop 15,000 MW of renewable energy projects, including solar and wind plants, advancing the National Renewable Energy Program.
• 2025 May: ACWA Power reported a 59% increase in operating profit, adding 24.7 GW of power generation and expanding water desalination capacity by 1.8 million cubic meters per day.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) +91 120 433 0800 

United States: +1-201971-6302