Middle East and Africa Medium Voltage Cable Market
Rising need for electricity across the MEA is expected to drive the medium voltage cable market. Growth in urban population, particularly in developing economies, has resulted in increased construction activities in commercial, residential, industrial, and infrastructure sectors. This, in turn, is directly creating more demand for electricity generation and distribution, which is boosting the deployment of medium voltage cables for MEA region. Furthermore, rising focus on power generation through renewable energy sources has further resulted in development of new power grids as well as distribution lines. This, in turn, is bolstering the growth of the MEA medium voltage cable market. Several countries in the region are engaging themselves in various global events, leading to the development of infrastructure and strengthening of economies. In addition, the countries are also expected to attract plenty of foreign investments in their infrastructure and construction industries. The constantly rising population of the region is leading to high demand for housing and other basic infrastructure. As per the United Nations Department of Economic and Social Affairs, Africa is anticipated to account for over half of the world’s total population growth during 2015–2050. In Gulf Cooperation Council (GCC), increased demand for electric power is likely to propel the medium voltage cable market growth. The market players are looking forward to making their mark in the medium voltage cable industry by consistently striving to shape up and diversify their corporate structures and product offerings. The UAE and Saudi Arabia together dominate the medium voltage cable market in the MEA due to high power generation. Projects such as the Mohammed Bin Rashid Solar Park in Dubai and Masdar’s Shams 1 in Abu Dhabi are major factors propelling the demand for medium voltage cables in the UAE.
Moreover, in case of COVID-19, MEA is highly affected specially the South Africa. To reduce the impact of COVID–19, the governments in the MEA region have adopted contingency plans such as complete lockdown and a 24-hour sterilization program. The introduction of lockdowns has resulted in a halt of construction activities in the region. The slowdown in construction activities in the region has directly impacted medium voltage cable sales in the region. Also, most businesses in the region have come to a halt and are expected to continue slower than the usual pace. The countries are taking significant containment measures to reduce the number of infected patients. COVID-19 pandemic outbreak, which has severely affected the construction industry and oil & gas industry projects, resulted in the declining sales of the medium voltage cable in the MEA. Several giants in the African oil & gas industry, such as ExxonMobil, Total SE, BP, and Royal Dutch, reduced their CAPEX by more than 20% in 2020. It has resulted in getting upcoming projects delayed or stalled. The decline in FDI flows across the region. However, positive demand has been noticed from ongoing renewable energy projects in the MEA region.
Strategic insights for the Middle East and Africa Medium Voltage Cable provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 2,365.3 Million |
| Market Size by 2027 | US$ 3,300.1 Million |
| Global CAGR (2020 - 2027) | 5.51 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Installation Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Medium Voltage Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The MEA medium voltage cable market is expected to grow from US$ 2,365.3 million in 2019 to US$ 3,300.1 million by 2027; it is estimated to grow at a CAGR of 5.51 % from 2020 to 2027. Burgeoning renewable energy generation is expected to escalate the MEA medium voltage cable market. Various governments across the MEA are prioritizing the generation of renewable energy owing to increasing energy demand and rising environment concerns. The African Renewable Energy Initiative has plans to generate at least 300 GW of renewable electricity for Africa by 2030. Such initiatives are resulting in increased investments in new renewable power plants, which is boosting the demand for medium voltage cables for MEA region. Ongoing major renewable energy projects across the MEA include Inga 3 Hydroelectric power project in Republic of Congo. The growth in development of renewable power plants is propelling the MEA medium voltage cable market as these cables are significantly used as a primary connection between the renewable energy system and the power network.
In terms of installation type, the overhead cables and accessories segment accounted for the largest share of the MEA medium voltage cable market in 2019. In terms of end-users, the energy and power segment held a larger market share of the MEA medium voltage cable market in 2019.
A few major primary and secondary sources referred to for preparing this report on the MEA medium voltage cable market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alpha Wire; Cleveland Cable Company; Furukawa Electric Co. Ltd.; General Cable Technologies Corporation; LEONI AG; LS Cable & System Ltd.; Nexans; Sumitomo Electric Industries, Ltd.
The Middle East and Africa Medium Voltage Cable Market is valued at US$ 2,365.3 Million in 2019, it is projected to reach US$ 3,300.1 Million by 2027.
As per our report Middle East and Africa Medium Voltage Cable Market, the market size is valued at US$ 2,365.3 Million in 2019, projecting it to reach US$ 3,300.1 Million by 2027. This translates to a CAGR of approximately 5.51 % during the forecast period.
The Middle East and Africa Medium Voltage Cable Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Medium Voltage Cable Market report:
The Middle East and Africa Medium Voltage Cable Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Medium Voltage Cable Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Medium Voltage Cable Market value chain can benefit from the information contained in a comprehensive market report.
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