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 is booming thanks to its push for renewable energy, driven by the ambitious Vision 2030 plan. The government’s National Renewable Energy Program aims to generate 50% of electricity from renewables, with projects like the 2,060 MW Al Shuaibah solar plant, led by ACWA Power, showcasing this shift. Massive investments are pouring in, with the Ministry of Energy allocating billions to solar and wind projects. This move not only cuts reliance on fossil fuels but also positions Saudi Arabia as a clean energy leader, creating jobs and attracting global investors.

Rapid population growth and urbanization are fueling skyrocketing electricity demand in Saudi Arabia. With cities like Riyadh and Jeddah expanding, residential and commercial sectors are consuming more power, especially for air conditioning and desalination. The Saudi Electricity Company is upgrading grids to meet this surge, while smart city projects like NEOM integrate energy-efficient tech like smart grids and AI. This demand drives infrastructure growth, with billions invested in modernizing transmission and distribution networks to ensure reliable power, supporting the kingdom’s economic diversification and urban development goals.

The privatization of Saudi Arabia’s power sector is opening doors for private companies, sparking innovation and efficiency. The government’s push to liberalize the market has led to partnerships like ACWA Power’s collaboration with the Water and Electricity Holding Company for large-scale solar projects. This shift reduces the Saudi Electricity Company’s monopoly, encouraging competition and technological advancements. Private investments are funding cutting-edge solutions like smart meters and renewable energy plants, creating opportunities for global players like Engie and fostering a dynamic, sustainable energy market.

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