Market Research Report
Middle East Cable Market Size, By Voltage (Low, Medium, High, Extra High), By Application (Commercial, Industrial), COVID-19 Impact Analysis, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030
|Middle East Cable Market Size, By Voltage (Low, Medium, High, Extra High), By Application (Commercial, Industrial), COVID-19 Impact Analysis, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030|
Published: April 6, 2022
Global Market Insights Inc.
Content info: 170 Pages
Delivery time: 2-3 business days
The Middle East cable market is poised to expand at a rapid rate by 2030 owing to rising investments in various sectors like infrastructure, construction, power, and oil & gas, among others. In addition, government initiatives and policies to promote digital transformation are set to further boost market growth over the forecast period.
Increasing government investment for infrastructural and economic expansion have opened several avenues for adoption of new cables in the middle east. Current investments for establishing an efficient and reliable network range, along with building of effective infrastructure for transmission of signal, have driven market growth in recent years. Additionally, governments in the Middle East are investing in full-scale modernization of their grid network to run parallelly with international standards. Sustainable infrastructural development, along with the booming service sector in the region, have positively impacted market demand.
Over the years, emergence of technologically advanced materials like LVDC (Low Voltage Direct Current) high temperature super conductor cable upgrades have contributed majorly towards enhancing the efficiency of power cable transmission.
Notably, several installation advantages of the LVDC wires, such as faster installation, stringent government regulations and policies, and minimum costs of raw materials have driven product adoption positively. Moreover, increasing focus on urbanization in the Middle East due to rising disposable incomes is also a major factor that has facilitated market expansion.
The Middle East cable market has been fragmented on the basis of voltage, application, and region to outline the growth of the overall industry. Based on voltage, the market has been divided into low, medium, high, and extra high voltage.
The extra high voltage segment is anticipated to exhibit robust growth through the assessment timeframe. Mounting demand for efficient and affordable electricity supply is projected to drive segmental growth in the coming years.
With reference to application, the Middle East cable market has been classified into commercial and industrial. The commercial application segment is estimated to reach a sizable revenue by the end of 2030 on account of ongoing inclination towards renewable power sources, along with prevalent modernization of grid infrastructure in the commercial sector.
From the regional standpoint, the Qatar cable market is slated to develop at a notable pace over the study timespan. Increased electricity demand, coupled with lack of effective grid infrastructure, is likely to bolster product adoption in the forthcoming years. Meanwhile, Egypt is poised to attain a considerable share in the Middle East cable market in terms of revenue by the end of the forecast period. Surging government investments for the development of large-scale projects and growing number of construction activities in the country are foreseen to fuel product penetration.