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Demand For Low-voltage Cables In The Middle East And Africa Reached US $2 Billion 700 Million In 2020
Sep 18, 2018

 

  The substantial growth in commercial and residential applications is expected to help the low-voltage cable market achieve healthy income growth in the Middle East. At the same time, the growth in demand for construction, electricity, renewable energy, telecommunications lines, airports and subways will drive the development of the low-voltage cable industry. With the increasing use of industrial and residential areas, the demand for low-voltage cables has steadily increased over the past few years. However, high demand from different applications, such as lighting, automation, video surveillance, infrastructure, fire safety, sound and security, is expected to boost business opportunities. For example, low-voltage cables and cabling support home wiring, infrastructure, and digital technology from telephones to complex infrastructure such as multiple television and video streams.

 

  In the Middle East, the low-voltage cable demand model, most of the market share is held by oil and gas, the industry has a continuous demand for quality assurance products. These factors are expected to promote market innovation in technology and R & D. In addition to oil and natural gas, researchers expect impressive growth in the Middle East in other sectors, including automotive, construction and non-automotive industries, especially large-scale projects that replace old transmission lines with newer advanced cables to improve security and deploy smart grids to enhance transmission and distribution in the region. Electric system. Both factors are expected to boost demand in the region and provide attractive business opportunities for top players in the coming years.

  

  Large increases in demand for electricity in the commercial, industrial and residential sectors could positively affect demand for low-voltage cables in the Middle East, Gulf Cooperation Council countries such as the United Arab Emirates and Saudi Arabia, and Asia-Pacific and Africa, the researchers said. The focus of developing country governments is to invest heavily in infrastructure and overall economic growth. Increasing R&D projects and increased funding for innovative projects could boost demand for low-voltage cables and other industries in the coming years. Expert researchers say global Leaders'investments can further boost regional market expansion opportunities. The business sector is particularly driven by strong growth in the construction industry in the region.

 

  In addition, increased investment in electricity and renewable energy has also affected the market and is expected to drive the growth of the low-voltage cable market. Saudi Arabia, for example, plans to build 16 nuclear reactors by 2040. Egypt and Jordan have signed contracts with Russia's Rosatom to build nuclear reactors. These power generation investments provide impetus for the market.

  

  The electricity price on the grid has a positive impact on the market in which the government pays producers to provide additional electricity to the State Grid. Governments are expected to shift to private-sector financing models, including independent hydropower projects (IWPP) and independent power plants (IPPs). These business models contribute to commercial scale power generation.


  In view of the upcoming FIFA World Cup 2022 in Qatar, the Middle East countries are preparing for the prosperity of construction and infrastructure development activities. In addition to projects directly related to the venue, new concepts and emerging plans are expected to increase investment and business opportunities in commercial buildings, restaurants, commercial vehicles, etc. This is expected to boost demand for low-voltage cables in the region in the next few years. Therefore, Qatar's low-voltage cable market is expected to grow at a compound annual growth rate of 6.6% during the forecast period.


  High demand for power generation and transmission, instrumentation cables, switchgear, industrial robots, petrochemical products and other fields could further shape demand patterns in the near future. The region's demand for cables is unparalleled because of increased electricity generation, booming construction and rapid population growth. Dubai's Dubai cable, Egypt's El-Sewedy, Saudi Cable Company, Saudi Jeddah cable and Riyadh cable will become the main local low-voltage cable manufacturers.

 

  In order to ensure the supply of raw materials, most companies are working with suppliers to store raw materials. However, Grand View Research warned raw material prices to fluctuate and change market dynamics. The researchers suggest that more attention should be paid to customer service, product mix innovation and strong after-sales service. Increasing emphasis on environmentally friendly products is also expected to create business opportunities for market participants in the coming years.