The Middle East Cables Market is expected to reach USD 9.33 billion by 2020, according to a new study by Grand View Research, Inc. Growing preference towards tree retardant XLPE material is anticipated to spur market growth over the forecast period. New product and technology innovation is expected to catapult the demand across mature markets such as Saudi Arabia and UAE.
Increasing government investments for economic and infrastructure growth is expected to provide avenues to the Middle East cables market. Further, tremendous increase in energy demand owing to ongoing infrastructure activities for Dubai Expo 2020 is also expected to drive regional market growth over the next six years. Increase in power transmission demand for organizing the FIFA World Cup 2020 in Qatar is providing avenues to the Middle East cables market.
Emergence of technologically advanced materials such as LVDC high temperature superconductor (HTS) cable is expected to assist market growth. Stringent regulations and several government initiatives with various national development projects are expected to be the key forces driving the Middle East cables market. Volatile prices of key raw materials such as copper and aluminum are anticipated to remain key challenge for market participants. However, technological advancements and innovations to develop eco-friendly, low cost and efficient cables are further expected to serve as growth opportunities for market growth.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/middle-east-cables-market
Further key findings from the study suggest:
·
Medium-voltage cables accounted for majority of
the market share in 2013, and increasing deployment of XLPE raw materials in
medium-voltage cables is expected to drive to be a key growth driver.
·
High-voltage cables segment is expected to
witness significant growth through the forecast period. This growth can be
attributed to a number of macro-market drivers such as growing number of
turnkey projects, need for safe transmission, increasing offshore wind
projects, and growing demand for underground transmission.
·
The commercial segment accounted for over 60% of
the overall market share in 2013. Rapid infrastructure development, drawing
huge investment from the GCC participants is expected to drive market demand in
commercial sector. Growing urbanization is expected to support the
infrastructure development in the emerging economies.
·
Saudi Arabia accounted for over 35% of the
overall market share in 2013 and is expected to witness high growth owing to
the expansion of commercial and industrial sectors.
·
Notable companies operating in the Middle East
cables market include Riyadh Cables, El-Sewedy, Oman Cables, Saudi Cables and
Ducab.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/construction-and-utilities
For the purpose of this study, Grand View Research has segmented the Middle
East cables market on the basis of product, application and region:Middle East Cables Product Outlook (Revenue, USD Million, 2012 - 2020)
·
Low-Voltage
·
Medium-Voltage
·
High-Voltage
·
Extra High-Voltage
Middle East Cables Application Outlook (Revenue, USD Million, 2012 -
2020)
·
Commercial
·
Industrial
Middle East Cables Regional Outlook (Revenue, USD Million, 2012 -
2020)
·
Saudi Arabia
·
Qatar
·
UAE
·
Egypt
For press release of this report - http://www.grandviewresearch.com/press-release/middle-east-cables-market
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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