Middle East and Africa Medium Voltage Cable Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Installation Type and End-Users

Transportation Segment is Expected to be Fastest Growing During Forecast Period for MEA Region

According to a new market research study on “MEA Medium Voltage Cable Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Installation Type and End-Users,” is expected to reach US$ 3,300.1 million by 2027 from US$ 2,365.3 million in 2019. The market is estimated to grow at a CAGR of 5.51% from 2020 to 2027. The report provides trends prevailing in the MEA medium voltage cable market along with the drivers and restraints pertaining to the market growth. Progress in the cable technology and identifying new oil & gas reserves are the major factor driving the growth of the MEA medium voltage cable market. However, existence of replica cable market hinders the growth of MEA medium voltage cable market.

In case of COVID-19, MEA is highly affected specially the South Africa. To reduce the impact of COVID-19, the governments in the MEA region have adopted contingency plans such as complete lockdown and a 24-hour sterilization program. The introduction of lockdowns has resulted in a halt of construction activities in the region. The slowdown in construction activities in the region has directly impacted medium voltage cable sales in the region. Also, most businesses in the region have come to a halt and are expected to continue slower than the usual pace. The countries are taking significant containment measures to reduce the number of infected patients. COVID-19 pandemic outbreak, which has severely affected the construction industry and oil & gas industry projects, resulted in the declining sales of the medium voltage cable in the MEA. Several giants in the African oil & gas industry, such as ExxonMobil, Total SE, BP, and Royal Dutch, reduced their CAPEX by more than 20% in 2020. It has resulted in getting upcoming projects delayed or stalled. The decline in FDI flows across the region. However, positive demand has been noticed from ongoing renewable energy projects in the MEA region.

The MEA medium voltage cable market is segmented based on installation type, end-users, and country. The installation type segment is further categorized into underground cable and assemblies, overhead cable and accessories, and submarine cables and accessories. The overhead cable and accessories segment dominated the market and is expected to witness the highest growth during the forecast period. The overhead cables are less expensive, easy to deploy, and require less maintenance. Thus, their deployment is high, wherein cost is a major factor for contractors is predominant. Growth of submarine segment is propelled by the rising deployment of submarine cables in off-shore projects across MEA. By end-users, market is segmented into the oil and gas, energy and power, mining, manufacturing, transportation, commercial, and residential. The energy and power segment holds the largest market share in 2019 owing to rising investments in electricity distribution and development of smart grids as well as renewable energy plants. The transportation segment is expected to be fastest growing during forecast period.

Alpha Wire; Cleveland Cable Company; Furukawa Electric Co. Ltd.; General Cable Technologies Corporation; LEONI AG; LS Cable & System Ltd.; Nexans; Sumitomo Electric Industries, Ltd. are among the leading companies in the MEA medium voltage cable market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Alpha Wire proudly announces the expansion of the FIT Cable Gland portfolio to include black plastic and metal glands. Initially launched in November 2017, Cable Glands are the latest extension to the FIT Wire Management family of accessories. Cable Glands provide a great solution for cable strain relief, sealing enclosures, along with cables and systems protection against flames, dust, and water in an industrial application.

The report segments the MEA Medium Voltage Cable Market as follows:

MEA Medium Voltage Cable Market - By Installation Type

• Overhead Cables and Accessories
• Underground Cables and Assemblies
• Submarine Cables and Accessories

MEA Medium Voltage Cable Market - By End-Users

• Oil and Gas
• Energy and Power
• Mining
• Manufacturing
• Transportation
• Commercial
• Residential

MEA Medium Voltage Cable Market - By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Sophorolipid Market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Europe Sophorolipid Market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the sophorolipid market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.