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The 66kV segment dominated 80% of the industry share in 2022. These cables are suitable for the distribution of bulk power and are used in industrial plants and other areas that require high voltage. Surging demand for electricity in the province has propelled the adoption of 66kV cables. To illustrate, in December 2021, the government of Saudi Arabia announced its plan to invest around USD 38 billion in energy distribution by 2030.
The copper material type captured for over 70% of the Middle East cable market in 2022. Non-magnetic properties of copper, in line with its high ductility and electrical conductivity, have made it a preferred material for manufacturing cable wires. In addition, copper cables demonstrate high corrosion resistance and superior malleability, which favors their mass requirement. They are also resistant to heat, which helps eliminate overloading concerns and makes them suitable for use in heavy electrical circuits.
Saudi Arabia cable market valuation is poised to reach USD 9 billion by 2032 on account of increasing demand for fiber optic connections and improving broadband infrastructure. The mobile internet speed has also doubled in the country due to huge investments in digital infrastructure. However, the development of renewable sector is further paving the way for market growth. Citing an instance, as per the International Trade Administration, the country aims to generate around 50% of its electricity from renewables and the other 50% from gas by 2030.