The UAE wires & cable market is growing at a high rate on owing to the factors such as burgeoning government spending in infrastructural development, growth in industrial manufacturing under Dubai Industrial Strategy 2030 and escalating number of government initiatives for upgrading existing power transmission and distribution infrastructure, and rapid urbanization. Besides these, rising inclination toward clean energy, growing demand for uninterrupted electricity supply, and increasing investment toward projects like Sheikh Mohammed bin Rashid Solar Park plant and the Barakah nuclear power plant are anticipated to fuel the demand for cables & wires in the market in the forecast period.
According to MarkNtel Advisors’ research report titled “UAE Wires & Cables Market Analysis, 2020”, the UAE Wires & Cables market is anticipated to grow at a considerable CAGR of during 2020-25. Based on Installation, overhead installation segment acquired the largest market share in UAE wires & cables market in 2019. The overhead installation technique is generally the most utilized approach across the country as it is the least expensive and simplest type of installation.
Moreover, the underground installation segment is anticipated to attain highest CAGR over the forecast period as this type incurs less transmission losses and reduces the maintenance expenses to a large extent. Apart from this, the demand for underground installation is high among various sectors such as residential, commercial, telecom, automotive, energy, and power industries as it discharges no electric fields.
“UAE Wires & Cables Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Wires & Cables providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Commercial Segment Acquired Considerable Market Share
The commercial sector acquired the considerable market share in 2019. The host of Expo 2021 has surged the government spending towards hospitality and telecom sectors which has spurred the demand for cable & wires for hotels, restaurants, telecommunication, etc. Moreover, residential and industrial sectors are expected to grow at a faster rate due to boost in ongoing construction activities in the real-estate sector, substantial flow of investments in mega infrastructure projects, and burgeoning number of power sector projects. Thus, this is projected to place a significant impact toward the growth of UAE Wires & Cables market as stated in MarkNtel Advisors’ research report "UAE Wires & Cables Market Analysis, 2020".
According to MarkNtel Advisors, the key players with a considerable market share in the UAE Wires & Cables market are Dubai Cable, National Cables Industry, Power Plus Cables Co LLC, MESC-RAK, Tekab Company Ltd., Brugg Cable Middle East DMCC, Prysmian Group, Nexans Middle East, Alfanar Company Ltd., Elsewedy Electric L.L.C etc.
Key questions answered in the study