What's driving the Middle East Cable Market trends? Ducab, Saudi Cables, Belden, Finolex Cables, Furukawa Electric, Nexans, Prysmian Group, Southwire company
Growing applications across the utility and industrial sector coupled with product and technology innovation is expected to catapult demand across Saudi Arabia and UAE. Increased energy demand on account of considerable infrastructure activities is also projected to drive Middle East cables market size.
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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Growth drivers Of Middle East Cable Market
1. Growing energy demand
2. Considerable construction and industrial activities
Cross-linked polyethylene (XLPE) and tree retardant (TR) insulation consumption is on the rise due to growing demand for submerged cables that utilize these materials.
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.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Saudi Cables
• Finolex Cables
• Furukawa Electric
• Prysmian Group
• Southwire company
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.
• 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.
Middle East Cable Market Segmentation:
Chapter 4 Middle East Cable Product Insights
4.1 Middle East cable market share by product, 2015 & 2023
4.2 Low voltage cables
4.2.1 Market estimates by region, 2012 - 2023
4.3 Medium voltage cables
4.3.1 Market estimates by region, 2012 - 2023
4.4 High voltage cables
4.4.1 Market estimates by region, 2012 - 2023
4.5 Extra high voltage cables
4.5.1 Market estimates by region, 2012 - 2023
Chapter 5 Middle East Cable Application Insights
5.1 Middle East cable market share by application, 2015 & 2023
5.2.1 Market estimates by region, 2012 - 2023
5.2.1 Market estimates by region, 2012 - 2023
Chapter 6 Middle East Cables Regional Insights
6.1 Cables market share by region, 2016 & 2023
6.2 Saudi Arabia
6.2.1 Market estimates and forecast, 2012 - 2023
6.2.2 Market estimates and forecast by application, 2012 - 2023
6.2.3 Market estimates and forecast by product, 2012 - 2023
6.3.1 Market estimates and forecast, 2012 - 2023
6.3.2 Market estimates and forecast by application, 2012 - 2023
6.3.3 Market estimates and forecast by product, 2012 - 2023
6.4.1 Market estimates and forecast, 2012 - 2023
6.4.2 Market estimates and forecast by application, 2012 - 2023
6.4.3 Market estimates and forecast by product, 2012 - 2023
6.5.1 Market estimates and forecast, 2012 - 2023
6.5.2 Market estimates and forecast by application, 2012 - 2023
6.5.3 Market estimates and forecast by product, 2012 - 2023
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