Saudi Arabia Wires & Cables Market is Expected to Register a 4.10% CAGR Through 2029
Rapid urbanization & infrastructure development and technological
advanWires & Cabless & smart grid development are the likely to propel
the market during the forecast period.
According to
TechSci Research report, “Saudi Arabia Wires & Cables Market – By
Region, Competition, Forecast and Opportunities, 2019-2029F”, Saudi Arabia Wires & Cables Market was valued at
USD 5.07 Billion in 2023 and is anticipated to project robust growth in the
forecast period with a CAGR of 4.10% through 2029.
Infrastructure
development and rapid urbanization are pivotal drivers of the Saudi Arabia
Wires & Cables market. The Kingdom is undergoing significant transformation
under its Vision 2030 initiative, focusing on diversifying its economy and
modernizing its infrastructure. Mega-projects like NEOM, a futuristic city
incorporating advanced technologies, and the expansion of existing urban areas
necessitate extensive electrical and communication networks. This surge in
construction and urbanization requires a substantial supply of power cables for
reliable electricity distribution and fiber optic cables for high-speed
internet connectivity. Additionally, the development of transportation
infrastructure, including new airports, railways, and highways, further boosts
demand for robust cabling solutions. As Saudi Arabia continues to invest in
enhancing its infrastructure, the wires and cables market is set to experience
sustained growth, driven by the need for high-quality, durable, and advanced
cabling products.
The
expansion of renewable energy projects is a significant driver of the Saudi
Arabia Wires & Cables market. With Vision 2030 emphasizing the
diversification of energy sources and reducing reliance on oil, the Kingdom is
investing heavily in solar and wind energy projects. These initiatives, such as
the Sakaka solar power plant and the Dumat Al-Jandal wind farm, require
specialized cables to connect renewable energy installations to the national
grid. The integration of these renewable sources demands high-performance power
cables and fiber optic cables to ensure efficient energy transmission and
system reliability. Additionally, the development of smart grids to manage and
distribute renewable energy further drives the demand for advanced cabling
solutions. As Saudi Arabia progresses in its renewable energy goals, the wires
and cables market will continue to grow, fueled by the need for sustainable and
efficient cabling infrastructure.
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Based
on Material, The Copper held the largest market share in 2023. Copper is
renowned for its excellent electrical conductivity, which is significantly
higher than that of most other metals. This property allows for more efficient
power transmission with minimal energy loss, which is crucial for both residential
and industrial applications. In a region where reliable power distribution is
essential for supporting rapid urbanization and industrialization, copper's
efficiency makes it the material of choice.
Copper
is highly durable and resistant to corrosion, which ensures a longer lifespan
for cables. This is particularly important in Saudi Arabia's harsh climatic
conditions, where extreme temperatures and humidity can degrade other materials
more quickly. The durability of copper cables reduces maintenance costs and
enhances the reliability of power and communication systems, making them a
cost-effective investment in the long term.
Copper's
versatility allows it to be used in a variety of applications, from low voltage
residential wiring to high voltage industrial and commercial installations. Its
flexibility and strength make it suitable for complex installations where
cables need to be bent and maneuvered through tight spaces without compromising
performance.
Copper
cables meet stringent regulatory and safety standards required for electrical
installations in Saudi Arabia. The government's emphasis on high-quality
infrastructure development under Vision 2030 means that materials used must
comply with rigorous safety and performance standards. Copper’s proven track
record in meeting these standards reinforces its dominance in the market.
As
the country adopts advanced technologies such as smart grids and renewable
energy systems, the demand for high-performance cables increases. Copper’s
superior properties make it well-suited to handle the demands of these modern
systems, including high-speed data transmission and efficient power
distribution.
Major companies
operating in the Saudi Arabia Wires & Cables Market are:
- Prysmian S.p.A
- Nexans
- Sumitomo Electric Group
- Furukawa Electric Co., Ltd
- LS Cable & System Ltd.
- Leoni AG
- Fujikura Ltd.
- Encore Wire Corporation
- NKT A/S
- Belden Inc.
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“The Saudi
Arabia Wires & Cables market presents substantial opportunities driven by
the nation's ambitious Vision 2030 initiative, which focuses on economic
diversification and infrastructure modernization. Significant investments in
mega-projects, renewable energy expansion, and smart city developments are
boosting demand for advanced cabling solutions. The increasing adoption of 5G
technology and broadband expansion further enhances market potential.
Additionally, the emphasis on energy efficiency and sustainability offers
prospects for innovative and eco-friendly cabling products. Companies
positioned to meet these evolving needs can capitalize on the growing market,
contributing to Saudi Arabia's technological and infrastructural advanWires
& Cabless.” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Saudi Arabia Wires &
Cables Market By Voltage (Low, Medium, High, Extra High) By Products (Fiber Optic
Cable, Co-Axial Cable, Other Cables) By Material (Copper, Aluminum, Glass) By
Installation (Overhead, Underground) By End Use (Aerospace & Defense,
Building & Construction, Oil & Gas, Energy & Power, IT &
Telecommunication, Others) By Region, Competition,
Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of Saudi
Arabia Wires & Cables Market and provides statistics & information on Market
size, structure and future Market growth. The report intends to provide
cutting-edge Market intelligence and help decision-makers make sound investment
decisions., The report also identifies and analyzes the emerging trends along
with essential drivers, challenges, and opportunities in the Saudi Arabia Wires
& Cables Market.
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