Market Research Report

GCC Wires and Cables Market Research Report: Forecast (2024-2030)

GCC Wires and Cables Market Report - By Material (Copper, Glass, Aluminum), By End-Users (Residential, Commercial, Industrial, Telecom, Others), By Installation (Overhead, Undergro...und), By Type (Data, Fire resistance, Coaxial, Signal, Power Cable - >1kV, MV, HV, EHV, Low Voltage Energy <1kV) and Others Read more

  • Energy
  • May 2024
  • 189
  • PDF, Excel, PPT

Market Definition

A wire is a single conductor, and the cable is the group of wires bundled together in an assembly and wrapped in a single jacket to allow the flow of charge through it. Several types of cables are used for transmitting communication signals and electric power across different verticals. The mounting demand from the power distribution industry and massive investments in smart grid projects are leading to the increasing production of wires & cables across GCC nations.

Market Insights & Analysis: GCC Wires and Cables Market (2024-30)

The GCC Wires and Cables Market is anticipated to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30. Wires & cables are a crucial part of infrastructure development. Hence, rapid infrastructural developments across GCC nations are projected to drive the market. In addition to this, various government initiatives and emphasis on generating power from renewable sources have also fueled the adoption of wires & cables. 

Moreover, the surging demand for refined power transmission & distribution systems is another crucial factor that shall boost the market. Wires & cables are used in several applications to transmit electric signals. Rising urbanization & robust government support to expand power distribution networks across different areas are also likely to propel the overall market growth during 2024-30. Besides, increasing projects in the residential & commercial sector, coupled with the soaring demand for uninterrupted electricity, are other crucial factors proliferating the market growth.

Furthermore, snowballing investments in smart grid projects have surged the need for grid interconnection and, in turn, fueled the wires & cables market growth. Apart from this, increasing demand for underground cables is also contributing to the overall market growth in the coming years.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 15%
Key Companies Profiled Riyadh Cable, Jeddah CableBahra Cables, Al Fanar Electrical Systems, Dubai Cable, Power Plus Cables, National Cable Industry, Oman Cables Industry (OCI), QICC Cables, Doha Cables
Unit Denominations USD Million/Billion

 

GCC Wires and Cables Market Key Driver:

Increasing Demand for Wires & Cables in Industrial Sector - Rapid urbanization across the GCC region is escalating the need for constructing more residential & commercial spaces. This astronomical increase in construction projects is fueling the demand for wires & cables to fulfill the increasing power requirements. Besides, the need for power grid interconnection in densely populated areas is also propelling the demand for wires & cables. Moreover, rising developments in the industrial sector are amongst other crucial factors boosting the market growth, owing to the increasing requirement of high-voltage cables in industries like oil & gas, aerospace, and telecommunication.

GCC Wires and Cables Market Possible Restraint:

Surging Prices of Raw Materials - The most essential raw materials used in making wires & cables are rubber & plastics that include ingredients like PVC grains. The surge in raw material prices directly affects the profit margin of manufacturers, which might hinder market growth in the coming years. In addition, mounting procurement & operational costs of specialty wires and cables and snowballing usage of wireless devices are other crucial aspects projected to restrain the growth of the GCC Wires & Cables Market.


GCC Wires and Cables Market Research Report: Forecast (2024-2030)

GCC Wires and Cables Market Key Trend:

  • Burgeoning Demand for Renewable Power Generation

With increasing environmental concerns, the awareness regarding the potential of renewable power is increasing dramatically. Therefore, the demand for power generation from renewable sources is increasing, which, in turn, is fueling the requirement for wires and cables. In addition to this, rising government emphasis on developing renewable power plants is another crucial factor propelling the Wires and Cables Market growth across GCC nations.

  • Rising Establishment of Business Hubs in UAE & Saudi Arabia

Governments of GCC countries are trying to establish numerous commercial offices in UAE & Saudi Arabia to make them the business hubs. It is fueling the need for more data centers & IT facilities for improved security, which, in turn, increases the connectivity of IT infrastructure. Hence, the need for wires & cables in these countries is significantly surging for infrastructural developments & supporting businesses.

GCC Wires and Cables Market (2024-30): Segmentation Analysis

GCC Wires and Cables Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the regional levels. Based on the analysis, the market has been further classified as:

By Material:

  • Copper
  • Glass
  • Aluminum

Based on the material, copper is projected to hold the largest share of the GCC Wires and Cables Market during the forecast period. It is due to the increasing demand for copper-based wires & cables from the telecommunication & consumer electronics sector since copper is an excellent conductor. In addition, the burgeoning growth of the construction industry due to snowballing infrastructural developments is also expected to boost the demand for copper-based wires & cables in the coming years.

Moreover, copper exhibits properties like less resistance against the electric current. This property makes it an outstanding choice for wires used in homes & commercial spaces. Apart from this, copper used in single conducting cable connecting wires delivers excellent durability, strength, & insulation.

Furthermore, the demand for Aluminum-based wires & cables is anticipated to witness the fastest growth during the forecast period. It is due to the increasing number of projects from events & expos and construction of power plants. In addition, aluminum, i.e., nearly 70% lighter than copper, is beneficial in various applications where components with reduced weight are required. Moreover, aluminum-based wires are used in electrical cables, owing to their lightweight, which makes them easier to install.

By Installation:

  • Overhead
  • Underground

Based on Installation, Overhead installation acquires the largest share of the GCC Wires and Cables Market. It is the traditional approach of installing wires and cables since it is easier & cheapest than other installation types. In addition, it is easier to troubleshoot & upgrade overhead wires & cables, while it is not the same in the case of underground cables.

However, the demand for Underground installation is projected to experience robust growth in the forecast period. This installation, despite being expensive, exhibits several advantages. It is used widely in densely populated areas, where it is dangerous to have overhead lines. Furthermore, underground installation helps reduce maintenance costs & incurs fewer transmission losses. Therefore, the underground installation is likely to experience significant demand from various verticals, including commercial, residential, telecom, automotive, and energy & power industries. Apart from this, underground cables are safer for the public, animals, & the environment compared to overhead lines.

GCC Wires and Cables Market (2024-30): Regional Projection

Geographically, the GCC Wires and Cables Market expands across:

  • Saudi Arabia
  • UAE
  • Kuwait
  • Bahrain
  • Oman
  • Qatar

Of them all, Saudi Arabia captures the largest share of the GCC Wires & Cables Market. Its major income-generating sector is the oil industry. Hence, to reduce dependency on the oil sector & diversify income resources, the Saudi government and leading authorities are encouraging infrastructural & industrial developments within the country. As a result, growing infrastructural developments are likely to increase the number of construction projects, which, in turn, will fuel the demand for wires & cables across the residential, industrial, & commercial sectors, thereby fueling the market growth.

Further, the rising population is also leading to the increasing need for constructing new buildings, which is another crucial aspect positively influencing the market growth in Saudi Arabia. Additionally, the mounting focus on making the country a business hub, coupled with the increasing number of constructions of commercial spaces, is also anticipated to boost the market in Saudi Arabia. Moreover, burgeoning demand for high voltage cables in industries like oil & gas, power distribution, telecommunication, aerospace & defense, etc., shall further fuel the growth of the wires & cables market in Saudi Arabia during 2024-30.

Gain a Competitive Edge with Our GCC Wires and Cables Market Report

  1. GCC Wires and Cables Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. GCC Wires and Cables Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The GCC Wires and Cables Market is projected to grow at a CAGR of around 15% during 2024-30.

   A. The surge in raw material prices directly affects the profit margin of manufacturers, which might hinder market growth in the coming years

   A. Saudi Arabia captures the largest share of the GCC Wires & Cables Market

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Executive Summary
  3. Impact of COVID-19 on GCC Wires and Cables Market
  4. GCC Wires and Cables Market Analysis, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (in Tons)
    2. Market Share & Analysis
      1. By Type
        1. Data Cables
        2. Coaxial cable
        3. Signal cable
        4. Power Cable - >1kV, MV, HV, EHV
        5. Low Voltage Energy <1kV
        6. Fire Resistant Cables
      2. By Installation
        1. Overhead
        2. Underground
      3. By Material
        1. Copper
        2. Glass
        3. Aluminium
      4. By End Users
        1. Residential
        2. Commercial
        3. Industrial
        4. Telecom
        5. Others
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. Kuwait
        4. Bahrain
        5. Oman
        6. Qatar
  5. Saudi Arabia Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. Saudi Arabia Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. Saudi Arabia Wires and Cables Market Import Export Statistics
      4. Saudi Arabia Wires and Cables Market Trends & Developments
      5. Saudi Arabia Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  6. UAE Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. UAE Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. UAE Wires and Cables Market Import Export Statistics
      4. UAE Wires and Cables Market Trends & Developments
      5. UAE Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  7. Oman Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. Oman Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. Oman Wires and Cables Market Import Export Statistics
      4. Oman Wires and Cables Market Trends & Developments
      5. Oman Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  8. Kuwait Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. Kuwait Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. Kuwait Wires and Cables Market Import Export Statistics
      4. Kuwait Wires and Cables Market Trends & Developments
      5. Kuwait Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  9. Bahrain Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. Bahrain Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. Bahrain Wires and Cables Market Import Export Statistics
      4. Bahrain Wires and Cables Market Trends & Developments
      5. Bahrain Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  10. Qatar Wires and Cables Market Analysis, 2019-2030F
    1. Wires and Cables Production Scenario
      1. Manufacturing Ecosystem
      2. Manufacturing By Leading Companies
    2. Qatar Wires and Cables Market Analysis, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (in Tons)
      2. Market Share & Analysis
        1. By Type
        2. By Installation
        3. By Material
        4. By End Users
        5. By Competition
          1. Competition Characteristics
          2. Leading Companies & Their Market Shares
          3. Manufacturing Capabilities  
      3. Qatar Wires and Cables Market Import Export Statistics
      4. Qatar Wires and Cables Market Trends & Developments
      5. Qatar Wires and Cables Market Dynamics
        1. Drivers
        2. Challenges
        3. Impact Analysis
  11. GCC Wires and Cables Market Company Profiles
    1. Riyadh Cable
    2. Al Fanar Electrical Systems
    3. Jeddah Cable
    4. Bahra Cable
    5. Dubai Cable
    6. National Cable Industry
    7. Power Plus Cables
    8. Oman Cables Industry (OCI)
    9. Doha Cables
    10. QICC Cables
  12. Disclaimer


GCC Wires and Cables Market Segmentation