Middle East Cables Market Size & Trends

The Middle East cables market is poised for substantial growth, with a valuation of USD 10.97 billion in 2023. The market is anticipated to expand at a CAGR of 5.1% from 2024 to 2030, driven by key factors such as technological advancements, infrastructure development stemming from economic diversification initiatives, the rising adoption and demand for renewable energy sources, construction activities fueled by urbanization rates, communication needs, government support for safety and supply chain management, and other contributing elements.

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In countries like Saudi Arabia, UAE, Qatar, and Egypt, government infrastructure investments are playing a pivotal role in driving economic diversification efforts. The launch of initiatives such as Saudi Vision 2030 and the UAE’s Vision 2021, aimed at developing sectors like tourism, entertainment, and renewable energy, has led to substantial investments in urban development, transportation, and energy generation projects. As a result, there is now a heightened demand for medium and high voltage cables, fueling growth in this sector.

As the world continues to rely on electricity for its daily needs, manufacturers are ramping up their production capacities and focusing on high voltage and extra high voltage cables to cater to future demands. The Middle East, in particular, is witnessing a surge in market growth driven by this trend. For instance, Saudi Arabia's power demand is expected to leap from 55GW to 90GW, making it imperative for manufacturers to produce top-notch cables that can meet this substantial increase in demand. Furthermore, the emergence of smart cities across the region is fueling the demand for low voltage cables, which are crucial for seamlessly integrating advanced technologies into urban infrastructure.

The strategic position of this region as a vital connectivity hub is driving demand for advanced submarine cable infrastructure, facilitating rapid internet and data transfer. The surge in offshore wind power generation and other renewable energy projects is also fueling demand for specialized submarine and power cables. Additionally, the establishment of local manufacturing facilities by leading players has significantly improved access to raw materials, reducing lead times and supporting market growth as manufacturers can source materials more efficiently and cost-effectively.

Voltage Insights

In 2023, the low voltage segment dominated the market with a significant revenue share of 43.2%. The region's growing population has led to an increase in housing projects, subsequently boosting demand for low-voltage cables that facilitate the growth of smart cities. By incorporating innovative technologies, urban living is being enhanced, and low-voltage cables are playing a pivotal role in this transformation, driving energy management, communication networks, and smart lighting systems.

The high voltage segment is poised for the fastest growth rate of 7.3% over the forecast period. As urbanization surges, per capita electricity consumption skyrockets, prompting governments to invest heavily in new power plants, transmission lines, and substations. In pursuit of cutting-edge technology, these projects often feature advanced cables, as seen in initiatives like NEOM in Saudi Arabia and smart city endeavors. Consequently, governments are allocating substantial budgets to keep pace with this growing demand.

Application Insights

The Middle East's rapid urbanization has led to a surge in city populations, with Dubai, Abu Dhabi, Riyadh, and Doha experiencing substantial growth. As a result, infrastructure development has increased, creating a pressing need for extensive electrical and telecommunication networks. This demand is driving the market for various cables, including power cables and fiber optic cables, essential for supporting both residential and commercial needs in these rapidly expanding urban centers.

 

The Middle East's transformative industrial landscape is expected to propel the global industrial application market at a remarkable 5.5% CAGR over the forecast period. The region's rapid expansion in oil and gas, manufacturing, and construction has sparked an increased demand for efficient power transportation and vital services. Consequently, high-quality cables have become indispensable, prompting governments to introduce policies that prioritize sustainable development and large-scale cable and wiring systems.

Regional Insights

The Saudi Arabian cables market holds a commanding presence in the Middle East market, accounting for 34.6% of the overall share in 2023. This dominance is largely attributed to the country's sustained investment efforts in telecommunications infrastructure. Under the ambitious Vision 2030 strategy, which seeks to diversify the economy and reduce reliance on oil revenues, substantial allocations have been made to upgrade high-speed fiber optic networks and improve existing cable systems.

Qatar Cables Market Trends

The Qatari cables market is poised to experience remarkable growth, with a projected Compound Annual Growth Rate (CAGR) of 6.1% between 2024 and 2030. The country's strategic financial initiatives, underpinned by its ambitious infrastructure development plans, particularly for hosting high-profile events such as the FIFA World Cup 2022, have created significant demand for large-scale cabling solutions. Additionally, the rapid urbanization has driven growth in residential and industrial development projects, further fueling market expansion.

Key Middle East Cables Company Insights

Some key players in the Middle East cables market include Bahra Electric; Belden Inc.; Ducab; ElsewedyElectric.com; and FAHAD CABLES INDUSTRY FZE (UAE), among others. Market participants are adopting innovative strategies such as new product introductions, enhanced distribution networks, geographic diversification, and other initiatives to sustain their market position and competitive edge.

• Bahra Electric is a manufacturer of cables in the industry, offering a diverse range of products, including power cables, instrumentation cables, and solar cables, all conforming to international standards. The company prioritizes quality and sustainability, partnering with major infrastructure projects across the GCC and contributing to Saudi Vision 2030 initiatives.

• Ducab is a UAE-based cable manufacturer, offering a comprehensive range of high-quality cables and accessories for diverse sectors, including construction, oil and gas, and renewable energy. The company is renowned for its dedication to innovation and sustainability, producing products that conform to international standards and meet specific customer needs.

Key Middle East (Saudi Arabia, UAE, Qatar, Egypt) Cables Companies:

• Bahra Electric
• Belden Inc.
• Ducab
• ElsewedyElectric.com
• FAHAD CABLES INDUSTRY FZE (UAE)
• HELUKABEL GmbH
• Nexans
• Prysmian S.p.A.
• Riyadh Cables
• Saudi Cable Company
• Sumitomo Electric Industries, Ltd.

Recent Developments

• In May 2024, Belden Inc. Belden 5320UV and 5220UV Cables to its portfolio of addressable fire alarm cables, enhancing its offerings with secure, high-quality products designed for critical applications, previously meeting the demands of discerning customers.

• In February 2024, Elsewedy Electric’s high-voltage cable technology set new standards in Egypt and the Middle East by partnering with Pfisterer to conduct pioneering type tests on 150kV cable systems, previously pushing the boundaries of innovation.

Middle East Cables Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 11.49 billion
Revenue forecast in 2030	USD 15.52 billion
Growth Rate	CAGR of 5.1% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2024 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Application, voltage, region
Regional scope	Middle East
Country scope	Saudi Arabia, UAE, Qatar, Egypt
Key companies profiled	Bahra Electric; Belden Inc.; Ducab; ElsewedyElectric.com; FAHAD CABLES INDUSTRY FZE (UAE); HELUKABEL GmbH; Nexans; Prysmian S.p.A.; Riyadh Cables; Saudi Cable Company; Sumitomo Electric Industries, Ltd.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

Middle East Cables Market Report Segmentation

This comprehensive report offers insightful forecasts of revenue growth at regional and country levels, while providing a detailed analysis of the latest industry trends across sub-segments spanning from 2018 to 2030. In order to provide a thorough understanding of this sector, The Research Insights has segmented its Middle East cables market study based on application, voltage, and geographic region, enabling stakeholders to make informed decisions.

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Commercial

  • Industrial

• Voltage Outlook (Revenue, USD Million, 2018 - 2030)

  • Low

  • Medium

  • High

  • Extra High

• Country Outlook (Revenue, USD Million, 2018 - 2030)

  • Saudi Arabia

  • UAE

  • Qatar

  • Egypt

 

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