At 3.2% CAGR, the Middle East & Africa Medium Voltage Cable and Accessories Market is Projected to be Worth US$ 2,544.36 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Middle East & Africa medium voltage cable and accessories market was valued at US$ 1,979.83 million in 2022 and is expected to reach US$ 2,544.36 million by 2030, registering a CAGR of 3.2% from 2022 to 2030. Rising demand for uninterrupted power supply in various industries and rising demand for renewable energy are among the critical factors attributed to the Middle East & Africa medium voltage cable and accessories market expansion.

In recent years, there has been a drastic increase in the demand for power. The need for reliable power grid infrastructure, emergency power backup solutions, and a steady power supply is increasing tremendously in various industries. The demand for an uninterrupted power supply has surged in the mining industry. Various types of heavy-duty equipment are used in mining operations, such as excavating machinery, conveyor belts, drillers, and cranes, which require a continuous power supply even in harsh environments. Similarly, in oil & gas and petrochemical industries, highly reliable electrical power is needed to protect people, assets, the environment, and the continuity of sensitive operations. Also, various activities are carried out in the oil & gas fields, including drilling, pumping, and loading, which require an uninterrupted power supply for continuous operation and safety purposes. Moreover, on oil rigs, an uninterruptible power supply is mandatory to ensure that signal lighting is always operational. Thus, the rising demand for an uninterruptible power supply in mining, oil & gas and petrochemical industries is raising the demand for medium voltage cable and accessories, as they help provide a regular power supply in the field. Furthermore, for the high volume production of different goods, there is a need for an uninterruptible power supply in the manufacturing industry. A slight power disruption at a manufacturing plant can lead to low-volume production and affect the production's quality. In addition, the growing data center industry is boosting the demand for an uninterruptible power supply. The data center market is rapidly growing due to the digital revolution and the 5G rollout. Hence, the growing demand for power in the manufacturing and data center industries fuels the medium voltage cable and accessories market growth.

On the contrary, widespread counterfeit cable market hampers the growth Middle East & Africa medium voltage cable and accessories market.

Based on installation, the Middle East & Africa medium voltage cable and accessories market is classified into overhead, underground, and submarine. The underground segment held 44.0% share of the Middle East & Africa medium voltage cable and accessories market in 2022, amassing US$ 871.49 million. It is projected to garner US$ 1,145.07 million by 2030 to expand at 3.5% CAGR during 2022-2030.

Based product, the Middle East & Africa medium voltage cable and accessories market is categorized into MI, terminations, joints, and XLPE Cables. The terminations segment held 47.5% share of the Middle East & Africa medium voltage cable and accessories market in 2022, amassing US$ 941.17 million. It is projected to garner US$ 1,198.06 million by 2030 to expand at 3.1% CAGR during 2022-2030.

By voltage, the Middle East & Africa medium voltage cable and accessories market is segmented into 1 to 5, 6 to 13, 23, 34, 45, and 69. The 6 to 13 segment held 34.5% share of the Middle East & Africa medium voltage cable and accessories market in 2022, amassing US$ 682.75 million. It is projected to garner US$ 849.62 million by 2030 to expand at 2.8% CAGR during 2022-2030.

Based on end user, the Middle East & Africa medium voltage cable and accessories market is segmented into industrial, infrastructure, and renewables. The industrial segment held 53.0% share of the Middle East & Africa medium voltage cable and accessories market in 2022, amassing US$ 1,049.24 million. It is projected to garner US$ 1,396.90 million by 2030 to expand at 3.6% CAGR during 2022-2030

Based on country, the Middle East & Africa medium voltage cable and accessories market is categorized into South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. Saudi Arabia held 43.3% share of Middle East & Africa medium voltage cable and accessories market in 2022, amassing US$ 858.10 million. It is projected to garner US$ 1,143.45 million by 2030 to expand at 3.7% CAGR during 2022-2030.

Key players operating in the Middle East & Africa medium voltage cable and accessories market are ABB Ltd, El Sewedy Electric Co, Nexans SA, NKT AS, Prysmian SpA, and The Okonite Co, among others.

• In August 2023; Elsewedy Electric KSA provides low-voltage and medium-voltage cables for the 28km tunnels being built as part of 'The Line,' which will be the world's first zero-gravity vertical city.
  
  
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