Middle East & Africa Power and Control Cable Market Revenue to cross US$ 12,354.94 million by 2030

At 4.9% CAGR, the Middle East & Africa Power and Control Cable Market is Projected to be Worth US$ 12,354.94 Million by 2030, Says The Insight Partners

According to The Insight Partners research, the Middle East & Africa power and control cable market was valued at US$ 8,406.03 million in 2022 and is expected to reach US$ 12,354.94 million by 2030, registering a CAGR of 4.9% from 2022 to 2030. Rising demand for reliable electricity and increasing demand for data center and cloud computing are among the critical factors attributed to the Middle East & Africa power and control cable market expansion.

Utilities and industries require new electrical infrastructure, including power distribution networks, substations, and industrial facilities, to meet their growing power needs due to their expansion. The new infrastructure needs power and control cables for safe and efficient operation. Additionally, power cables are essential to transmit electricity from renewable energy installations to the grid, supporting the growth of utilities and industries. The increasing adoption of renewable energy sources such as solar and wind necessitates the development of transmission and distribution systems. Furthermore, the renewable energy industry has grown rapidly as companies increasingly recognize its potential to reduce emissions and cut costs. Solar and wind farms produce massive amounts of energy that can be directed to diverse industrial processes. Renewable energy providers are required to build resilient infrastructures that can handle challenging environments and changing energy demands to do so. The wire, cable, hardware, and equipment constitute a key part of that infrastructure for generating, transporting, and storing electricity. Therefore, the growing demand for reliable electricity in utilities and industries, coupled with infrastructure development, renewable energy integration, and modernization efforts, create a robust market for power and control cables. Power and control cables are essential components of electrical systems to ensure the smooth functioning of utilities and industrial operations. The parameters mentioned above can increase the demand for power and control cable in its market.

On the contrary, availability of alternative technologies hampers the growth Middle East & Africa power and control cable market.

Based on type, the Middle East & Africa power and control cable market is bifurcated into power cable and control cable. The power cable segment held 96.6% share of the Middle East & Africa power and control cable market in 2022, amassing US$ 8,118.47 million. It is projected to garner US$ 11,994.75 million by 2030 to expand at 5.0% CAGR during 2022-2030.

By voltage, the Middle East & Africa power and control cable market is segmented into high voltage, medium voltage, and low voltage. The low voltage segment held 63.0% share of the Middle East & Africa power and control cable market in 2022, amassing US$ 5,292.41 million. It is projected to garner US$ 8,151.86 million by 2030 to expand at 5.5% CAGR during 2022-2030.

By application, the Middle East & Africa power and control cable market is segmented into utilities and industrial. The utilities segment held 69.3% share of the Middle East & Africa power and control cable market in 2022, amassing US$ 5,821.78 million. It is projected to garner US$ 8,747.22 million by 2030 to expand at 5.2% CAGR during 2022-2030.

Based on country, the Middle East & Africa power and control cable market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held 41.6% share of Middle East & Africa power and control cable market in 2022, amassing US$ 3,493.98 million. It is projected to garner US$ 5,428.83 million by 2030 to expand at 5.7% CAGR during 2022-2030.

Key players operating in the Middle East & Africa power and control cable market are Belden Inc; Furukawa Electric Co Ltd; HENGTONG GROUP CO., LTD.; LEONI AG, Nexans SA; Prysmian SpA; Riyadh Cables Group Co; and Sumitomo Electric Industries Ltd, among others.

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