Middle East & Africa Power and Control Cable Market Size & Share 2024 - 2032
Market Size by Product (Power Cable, Control Cable), by Voltage (Low Voltage {Power Cable, Control Cable}, Medium Voltage, High Voltage), by Application (Utilities, Industries), & Forecast.
Report ID: GMI8603
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Published Date: March 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Vishal Saini
Middle East & Africa Power and Control Cable Market
Middle East & Africa Power and Control Cable Market was valued at USD 16.9 billion in 2023 and is anticipated to grow at a CAGR of over 6.9% between 2024 and 2032, driven by the increasing investments in infrastructure, energy-efficient reforms, and integration of digitized monitoring and control systems.
Middle East & Africa Power and Control Cable Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Additionally, increasing investments in renewable energy projects, stringent regulatory standards, and advancements in cable technology are driving market growth. For instance, in 2023, the Dubai Electricity and Water Authority awarded a contract of USD 237 million to Siemens Energy for designing, supplying, and installation of a high-voltage cable system. This project aims to enhance the efficiency and reliability of Dubai's electricity transmission network, supporting increasing energy demand and sustainable development goals.
COVID–19 Impact
The COVID-19 pandemic has affected the Middle East & Africa power and control cable market, causing disruptions in supply chains, project delays, and reduced construction activities. However, the market has shown resilience, with increased investments in infrastructure projects, particularly in renewable energy and smart grid initiatives, driving recovery and growth amidst the ongoing challenges posed by the pandemic.
Middle East & Africa Power and Control Cable Market Trends
Middle East & African countries are laying more emphasis on renewable energy integration along with smart grid infrastructure, which in turn is driving the demand for power and control cable. Investment in smart grid infrastructure enables real-time monitoring and control of power distribution, enhancing the efficiency of integration. Saudi Arabia is actively investing across smart grid initiatives to support its ambitious renewable energy goals. For instance, in 2023, the country announced plans to invest USD 3.2 billion in smart grid development. This initiative aligns with the Saudi Vision 2030, which aims to diversify the economy, reduce dependence on fossil fuels, and generate 50% electricity from clean sources by 2030.
Middle East & Africa Power and Control Cable Market Analysis
Based on product, the power cable segment is projected surpass USD 27 billion in 2032. Rapid infrastructure development including residential, commercial, and industrial projects, necessitates reliable power transmission systems, thereby increasing the product demand. Aging power infrastructure in the region is being replaced and upgraded, driving significant demand for power cables to improve efficiency and reliability. Furthermore, governments in the region are actively investing in power infrastructure development and promoting energy-efficient solutions, contributing to the adoption of advanced power cables.
The medium voltage segment is anticipated to grow at a CAGR of over 6.5% through 2032, fuelled by its extensive applications in residential, commercial, and industrial sectors. These cables are widely used for power distribution in urban areas, shopping centres, and office buildings, driving their demand across industries. Governments in the region focus on upgrading power distribution networks and implementing clean energy initiatives, requiring medium voltage cables for efficient energy transmission. Their flexibility, compatibility, and cost-effectiveness make medium voltage cables the preferred choice, boosting their market share and cementing their significance in the region's energy landscape.
Egypt power and control cable market is estimated to reach USD 6 billion by 2032, owing to country’s rapidly growing economy and large population, which in turn is driving the demand for electricity and infrastructure development, thus making the country an attractive market for power cable manufacturers and investors. Its strategic location and access to regional markets further contribute to its dominance in the market. The government's focus on energy-efficient infrastructure development also plays a significant role in boosting the demand for power and control cables.
In addition, the ongoing regional interconnection projects, including Egypt-Sudan Electricity Interconnection Project and Egypt-Saudi Arabia Interconnection Project will boost the industry landscape. These initiatives promote regional collaboration and drive demand for these cables.
Middle East & Africa Power and Control Cable Market Share
Prysmian Group holds a significant share in the Middle East & Africa power and control cable industry due to its extensive product portfolio, advanced technologies, and established regional presence. With a reputation for quality and reliability, Prysmian Group caters to diverse market needs, securing its position as a leading supplier in the region.
Middle East & Africa Power and Control Cable Market Companies
Major key players operating across the Middle East & Africa power and control cable industry are:
Middle East & Africa Power and Control Cable Industry News
This market research report on Middle East & Africa power and control cable includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:
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Market, By Product
Market, By Voltage
Market, By Application
The above information has been provided for the following countries:
Research methodology, data sources & validation process
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Our 6-step research process
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✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
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