According to international market research firm Global Market Insights report released this month, it shows that by 2023 the Middle East and cable market will reach $ 11.98 billion.
It’s reported that the growth in energy demand and the aging power infrastructure upgrading is to promote the Middle East market demand increases cable main reason.
It reports that, in 2015, market demand for high-voltage cables in the Middle East accounted for more than 20% of the total area of the cable market. 2016-2023 the Middle East high-voltage cable market is expected to reach a compound annual growth rate of 10.5%, which was mainly due to inter-State joint grid, offshore wind power and other projects to promote. However, by 2023, the market demand for medium voltage cables will dominate the market, especially with the railways and other infrastructure investment increased. The housing boom is to promote the steady growth of low-voltage cable market, the main reason. It is worth noting that the grid interconnection project between members of the Gulf countries will drive growth in demand for EHV cables overhead.
From the terminal application market, to 2023, business applications will dominate the cable market demand. Among them, the industrial demand for cable compound annual growth rate of 8.5%.
From the national perspective, Saudi Arabia is the Gulf's largest cable needs of the country, market size is expected to reach $ 5 billion.
Copyright ? 2010 - 2025 zmscable.com All Rights Reserved.
