Selbyville, Delaware, April 14, 2022 (GLOBE NEWSWIRE) --
The Middle East cable market size is expected to record a valuation of USD 15 billion by 2030, according to the most recent study by Global Market Insights Inc.
The market growth is attributed to the ongoing investments in the power sector providing numerous solutions including establishing distribution network, load management as well as meter data management. The government’s shift toward developing new systems with secured & high data storage is enhancing the application of cables. Moreover, owing to the favorable economic & political scenario, smart grid deployment projects mark significant growth potential in the near future, which will have a subsequent impact on the cables industry.
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Surging government investments in the construction sector coupled with the expansion of renewable projects will foster the Middle East cable market expansion. For instance, in November 2021, Nexans introduced a new installation solution that secures, simplifies, and enables smart cable installations. The solution is a new addition to the company’s Mobiway range that offers benefits for cable installers. The technique was designed to simplify installation procedures by the use of smarter cabling, which makes the process quicker, safer, easier and cost-efficient.
The rapid utilization of communication system verticals along with IoT-based strong platforms will augment the Middle East cable market demand. Burgeoning tourism opportunity in the countries in line with the growing requirement for sustainable power infrastructure will accelerate the business trend. Regulatory efforts to accomplish the respective energy efficiency as well as conservation targets will spur the demand for sustainable cables across the country.
Iraq cable market is estimated to attain a 6.4% growth rate till 2030 due to the increasing electricity demand along with a lack of effective grid infrastructures. Rising demand for fiber optic connections across the telecommunication sector in line with substantial growth in broadband user subscriptions will propel the product demand.
Key players operating across the Middle East Cable market are Prysmian Group, Elsewedy Electric, Riyadh Cable Group, Power Plus Cable, Ducab, Sumitomo Electric Industries, HELUKABEL MiddleEast, Belden, Brugg Cable, Nexans, Saudi Cable Company, Bahra Cables, Federal Cables, alfanar Group, Naficon, Iran Cable Manufacturing Company, MEFC, Global Emirates Cable & Systems Industries, Jeddah Cables, Cable House, Midal Cables, and Oman Cables Industry SAOG.
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Some major findings of the Middle East Cable market report include:
- Regulators across the region are working aggressively to develop innumerable initiatives for investors to support the economic growth process at a sustainable rate for the cable industry.
- Growing electricity demand on account of rising population and industrialization will upsurge the industry growth of cables.
- Robust investments to transform the country both economically and socially will further enhance the demand for cables across the new establishments.
Table of Contents (ToC) of the report
Chapter 2 Middle East Cable Market Insights
2.1 Industry ecosystem analysis
2.2 Innovations & technology landscape
2.3 Regulatory landscape
2.4 COVID- 19 impact on the industry outlook
2.4.1 Top 10 countries across Middle East impacted by COVID- 19
2.4.2 Overall scenario
2.5 Industry impact forces
2.5.1 Growth drivers
2.5.2 Industry pitfalls & challenges
2.6 Growth potential analysis
2.7 Porter's Analysis
2.8 Competitive landscape, 2021
2.9 PESTLE Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/middle-east-cable-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
