Press release
Middle East Cable Market key players are Riyadh Cables, Ducab, Oman Cables, Saudi Cables, Belden, Encore Wire, Finolex, Fujikura, Furukawa Electric, General Cable, International Wire Group
Since these products find use in buildings, underground wiring as well as overhead applications, technology advancements across the core electronics and telecommunication sectors are poised to augment potential use cases.
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Lightweight LVDC high temperature superconductor (HTS) upgrades along with other technological advancements across commercial applications are forecast to help enhance transmission efficiency. Increased number of power projects coupled with the presence of aging equipment that requires replacement and upgrades will propel Middle East cable market revenue in the coming years.
Volatile raw material costs may result in unfavorable Middle East cable market price trend, and restrain growth. The need to increase grid interconnection in the industrial sector is expected to give impetus to new overhead transmission lines.
Key insights from the report include:
High voltage cable market share contributed over 20% to the overall revenue in 2015, with 10.5% CAGR estimations from 2016 to 2023. This is primarily due to increased penetration across submarine use cases backed by reinforcements of national interconnects, strengthening of regional transmission and increasing offshore wind projects.
Medium voltage cable market size is forecast to dominate revenue over the forecast timeframe. Increased adoption across the railway industry and significant consumer base are the major growth drivers for this segment.
The real estate construction boom will be pivotal in driving the LV cable market. All member countries of the GCC are expected to be connected via overhead EHV cables.
Commercial applications will continue leading the industry in the coming years. The industrial sector will grow at 8.5% CAGR expectations from 2016 to 2023.
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Saudi Arabia cable market share is forecast to reach USD 5 billion by 2023. The industry in UAE was valued at over USD 1.6 billion in 2015.
Companies operating in the industry are vertically integrated; key players include Ducab, El Sewedy, Riyadh Cables, Saudi Cables, etc. Ducab is engaged in numerous projects, and has major contracts with regional utilities. Manufacturers place emphasis on R&D in order to stay aligned with the industry scenario and ensure product differentiation. Possible obsolescence owing to the development of new products poses a threat to participants.
Global Market Insights has segmented the Middle East cable industry on the basis of product, application and region:
Middle East Cable Market Product Analysis (Revenue, USD Million, 2012 - 2023)
Low voltage
Medium voltage
High voltage
Extra high voltage
Middle East Cable Market Application Analysis (Revenue, USD Million, 2012 - 2023)
Commercial
Industrial
Middle East Cable Market Regional Analysis (Revenue, USD Million, 2012 - 2023)
Saudi Arabia
UAE
Qatar
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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