According to MarkNtel Advisors, the UAE Wires & Cables Market is expecting an exponential growth rate during 2022-27. The substantial government expenditure on infrastructural developments, growth in industrial manufacturing in line with the Dubai Industrial Strategy 2030, and various government initiatives for upgrading existing power transmission & distribution infrastructures are the prime aspects driving the growth of the wires & cables industry in the UAE.
Besides, the mounting inclination toward clean energy, growing demand for uninterrupted electricity supply, and increasing investments in projects like Sheikh Mohammed bin Rashid Solar Park plant and the Barakah Nuclear Power Plant are other crucial aspects anticipated to fuel the demand for cables & wires over the forecast years, further states the research report, “UAE Wires & Cables Market Analysis, 2022.”
Overhead Installation Remain the Popular Choice, Underground Installation Gaining Swift Traction
Currently, overhead installation is the most popular choice in the UAE since it is the simplest & least expensive type of installation, can carry high current & voltage, and any faults can be found & repaired easily. On the other hand, the demand for Underground installation is projected to witness the highest growth rate across residential, commercial, telecom, automotive, energy, & power industries during 2022-27. This type of installation discharges no electric fields, involves fewer transmission losses, & low maintenance costs, which is why its demand is likely to upsurge significantly in the coming years.
Commercial Sector to Contribute Prominently to the Market Growth
Amongst all end-users, the commercial sector dominated the UAE Wires & Cables Market in the previous few years, on account of increasing construction activities in the UAE. Moreover, the massive government investments in hospitality & telecom sectors in line with Expo 2021 have spurred the demand for wires & cables in restaurants, hotels, telecommunication, etc. On the other hand, the residential & industrial sectors are expecting rapid market growth, owing to massive investments in mega infrastructure projects and the burgeoning number of power sector projects, reveals MarkNtel Advisors in their research report, "UAE Wires & Cables Market Analysis, 2022."
According to MarkNtel Advisors, the leading players in the UAE Wires & Cables Market include 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 LLC.
Key Questions Answered in the Study: