Middle East Cable Market worth over $15bn by 2030

Middle East Cable Market size is set to surpass USD 15 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The market growth is owing to the rising government investments in real-estate projects and the development of renewable projects. Ongoing building construction activities followed by robust public and private player’s investments in the construction of mega projects will further encourage the product demand. Moreover, the increasing demand for efficient & advanced solutions of smart technologies and IoT-based platforms will foster the market expansion.
 

The COVID-19 pandemic has affected the cable market in Middle East due to the shutdown of operation activities. In addition, after the outbreak of this virus, majority of the regulatory bodies and state governments had initiated full scale lockdowns, obligating the residents to stay indoors to decrement the community transmission of COVID- 19. The rules initiated by their respective regulatory framework along with the introduction of several vaccination doses on a wide scale have provided stability to the businesses by bringing operational activities back to normalcy.
 

Robust expansion of industries along with introduction of advanced technologies will sway the overall market progression

The high voltage cable segment is anticipated to register a 6.9% growth rate by 2030. Surging consumer adoption of modern technology in the telecom sector in line with the rapid development of power transmission line will positively influence the industry demand. Rising investments in the expansion of transmission line projects coupled with the growing distribution network will fuel the market revenue. These cables witnessing an exponential growth along with the growing demand for long distance bulk electricity transmission will boost the overall industry share. Additionally, the increasing deployment of HVDC systems will significantly enhance the demand for cables in near future.
 

Browse key industry insights spread across 170 pages with 91 market data tables & 32 figures & charts from the 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”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-cable-market
 

Surging expansion of reliable & efficient advanced solutions across the country will propel the market demand

Ongoing infrastructural investments along with the robust expansion of the construction sector on account of Expo 2020 and Vision 2021 will drive the cable demand across the UAE. Ongoing development of infrastructure including new cities, and port development will stimulate the demand for cables. Furthermore, the growing demand for across industrial establishments will, in turn, complement the industry progression.
 

Key players operating in the market are Elsewedy Electric, Prysmian Group, Midal Cables, alfanar Group, Nexans, Power Plus Cable, Ducab, Jeddah Cables, Sumitomo Electric Industries, Iran Cable Manufacturing Company, HELUKABEL MiddleEast, Belden Inc., Brugg Cable, Saudi Cable Company, Global Emirates Cable & Systems Industries, Oman Cables Industry SAOG, Federal Cables, Riyadh Cable Group, Naficon, MEFC, Cable House and Bahra Cables.