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Strategic Analysis of the Middle East Power Cables Market : Opportunity Analysis for the GCC, Egypt, and Iraq

  • January 2015
  • -
  • Frost & Sullivan
  • -
  • 64 pages

Summary

Table of Contents

Key Findings

•The Middle East market for cables was estimated to be $ x billion in 2013, with the Kingdom of Saudi Arabia (KSA) contributing the largest share of revenue, at x %, of the total market, followed by the United Arab Emirates (UAE) and Egypt. Overall, the power cables market in this region is expected to grow with a compound annual growth rate (CAGR) of x % between 2013 and 2020.
•The Riyadh Cables Group of Companies (RCGC) remained the market leader for power cables with a market share of around x %, followed by the Saudi Cable Company (SCC) and Elsewedy Cables with market shares of x % and x %, respectively.
•The utilities segment, followed by oil and gas (O&G) and construction, were the x major end-user segments, cumulatively contributing over x % of the total power cable revenue.
•Market conditions are currently healthy with the market expected to witness increased investment in the power, O&G, infrastructure, and construction sectors over the forecast period to 2020.
•Qatar and the UAE are expected to be the fastest-growing markets over the forecast period with CAGRs of x % and x %, respectively.
•In 2012/2013, the averages of copper and aluminium dropped by around x % and x %, respectively. Prices of both these metals are expected to further drop over the next x years, which will bring down the cost of cables marginally over the next x to x years.
•However, this decrease could be nullified by the increasing costs in labour and transport, depending on the country of manufacture in the region.
•The submarine power cables market is expected to witness strong growth backed by increases in offshore wind projects, the strengthening of regional transmission, and reinforcements of national interconnects.
•Growth in Iraq and Egypt is expected to depend mainly on the political stability of these countries over the next x to x years.

CEO’s Perspective

The power cables market in the Middle East is expected to witness an all-time high over the forecast period due to huge investments in infrastructure.
Power cable suppliers must reconsider their pricing strategy on the backdrop of the recent drop in raw material prices.
Power cable suppliers from the Asia-Pacific (APAC) region are expected to push for a stronger presence in the Middle East.
The direct sales channel will remain the leading sales channel over the forecast period. However, contractors are expected to witness higher growth.
The KSA and UAE, combined, are expected to account for x % of revenue from the region by 2020.

Definitions

•A power cable, in simple terms, can be defined as an assembly of two or more electrical conductors, usually held together with an overall sheath. This assembly is used for transmission of electrical power from one point to another. Cables typically consist of 3 major components: conductors, insulation, and a protective jacket.
•Power cables generally use stranded copper or aluminium conductors, although small power cables may use solid conductors as well.
•Submarine power cables are cables meant for the transmission of power below the surface of the water. These are primarily used for connecting offshore platforms to on-shore refineries.

Key Questions This Study Will Answer

What is the current market situation and what is the forecasted market growth rate?
What are the factors influencing the growth of the global power cables market and to what extent do they have an impact?
What are the factors influencing the growth of the regional power cables markets? Which will have highest levels of market activity and which are still in the development stage?
At a regional level, which countries offer the best growth opportunities in the future?
Which are the key participants in the market?

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