Press release
Levant Power Cable Market 2024 Global Analysis By Top Key Players – Bahra, Riyadh Cables, MESC Jordan, Nexans, KEI Limited, Prysmian, The Okonite Company, Southwire Company, Belden, Oman Cables, Saudi Cables, Sumitomo Electric, DUCAB, Nuhas Oman
Levant Power Cable
Construction power cable market is set to expand over 8% owing to increasing infrastructure funding from public and private financial institutions toward development of infrastructural projects. In 2017, Government of Lebanon announced that it is seeking over USD 10 billion from international community to cope with the presence of huge presence of Syrian refugees over the next seven years.
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Key players across the Levant power cable market include Bahra, Riyadh Cables, MESC Jordan, Nexans, KEI Limited, Prysmian, The Okonite Company, Southwire Company, Belden, Oman Cables, Saudi Cables, Sumitomo Electric, DUCAB, Nuhas Oman, and El-Sewedy.
Levant Power Cable Market size will exceed USD 6 billion by 2024, as reported in the latest study. Growing government and private funding to refurbish the war affected public assets will drive the levant power cable market size. The Government of Iraq signed a strategic agreement with Siemens to strengthen and upgrade the country’s traditional energy infrastructure with the modern and secured systems. In 2016, Iraq invested USD 358 billion toward construction projects post-civil war.
Rising focus towards the expansion of clean energy with the aim to reduce the dependency on conventional fossil fuel will accelerate the power cable market share. In 2016, Government of Jordan announced the third renewable energy tender to add 200 MW of solar and 100 MW of wind projects. In 2017, Government of Israel had announced the development of country?s largest solar power project having capacity of 310 MW by 2018. The country is also targeting to meet 10% of its electricity demand from the renewable sources by 2020.
Growing demand for electricity on account of rising urban population coupled with expansion of T&D network will further augment the power cable market share. In 2017, Turkey Ministry of Energy and Natural Resources announced the development of Dardanelles (?anakkale) Strait Submarine Cable Project with cumulative transmission capacity of 4 GW. The Government of Iraq has signed strategic agreement with ABB in 2017 towards implementation of new energy transmission systems with an estimated investment over USD 500 million.
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MV power cable market is set to exceed USD 2 billion by 2024 owing to its high adaptability across the transmission and distribution applications. In 2016, Egyptian Electricity Transmission Company (EETC) announced an investment of over USD 1.6 billion towards the strengthening of its existing transmission network.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Levant Power Cable Industry Insights
Chapter 4. Levant Power Cable Market, By Product
Chapter 5. Levant Power Cable Market, By Voltage
Chapter 6. Levant Power Cable Market, By Application
Chapter 7. Levant Power Cable Market, By Countries
Chapter 8. Company Profiles
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Related Report:
Power And Control Cable Market Report & Forecast, 2017 - 2024
Rising investments by developing countries towards construction and infrastructure sector will drive the global power and control cable market size. Introduction of smart city initiatives across several countries including China, India and UAE will further stimulate the product demand. In 2015, the National Development Bank of China in collaboration with the Ministry of Housing and Urban-Rural Development announced an investment of over USD 12.8 billion towards the advancement of country's national smart city project.
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