Allied Market Research issued a report on the Southeast Asia and Middle East copper wire and cable market. The industry was valued at $22.74 billion in 2022 and is projected to reach $52.63 billion by 2032, rising at a CAGR of 9.77% from 2023 to 2032.
Research procedure
AMR’s
reports undergo rigorous scrutiny to deliver actionable insights that support
strategic decision-making. The company’s experts provide accurate and in-depth
analysis, ensuring that the clients have access to the most reliable data and
industry projections. Recognizing the distinct needs of each business, Allied
offers tailored solutions crafted by our in-house experts. Customizable
research services allow companies to explore niche markets. The study also
identifies untapped opportunities and achieves a competitive advantage in the industry.
Regional highlights
The
Southeast Asia and Middle East copper wire and cable market is segmented into
Southeast Asia and the Middle East. In 2022, Southeast Asia led the market in
revenue, primarily due to infrastructure development for data centers,
telecommunication towers, and related projects throughout the forecast period.
Industry events that are changing the landscape
Various industry
updates are mentioned in the report to keep the business owners updated with
the affairs of the landscape. Two of such news include:
Elsewedy Electric and ReNew Power’s
collaboration
In November 2022, Elsewedy Electric and ReNew
Power collaborated with the Egyptian government to initiate a green hydrogen
project.
Elsewedy Electric’s $500 billion NEOM project
Elsewedy Electric announced that its Saudi
branch contributed to the Kingdom's ambitious $500 billion NEOM project in
August 2023. This was done by supplying cables for developments along the Red
Sea coast. The company provided low- and medium-voltage cables for the
construction of two 28 km tunnels that were integral to The Line, the world's
first zero-gravity vertical city, which was designed to house 9 million
residents.
Elements influencing the growth of the industry
AMR’s
report offers a comprehensive idea of the factors that are responsible for the
market’s expansion. It states that the rise of smart grids and increased investment
in modernizing power transmission and distribution systems are driving demand
for copper wires and cables. Additionally, addressing the limitations of
traditional grids has spurred the adoption of smart grid technologies, which
significantly reduce greenhouse gas emissions and improve reliability.
Insulated copper wires and cables are vital for these systems, thus propelling
growth in the copper wire and cable market in Southeast Asia and the Middle
East.
The study also observes how rapid urbanization
and industrial investment growth help in industry growth. Urbanization
typically enhances productivity, income, education, transportation, and
healthcare. The integration of information and communication technologies is
fostering smart infrastructures to optimize operations in areas like traffic
management, public transport, energy, and healthcare. This trend leads to a
significant increase in demand for wires and cables essential for data and
electricity transmission. By 2050, it's projected that 68% of the global
population will reside in urban areas, further driving the need for electrical
power and expanded national electricity grids.
To
conclude, the Southeast Asia and Middle East copper wire and cable market is
anticipated to expand, driven by an increasing number of smart grid projects,
urbanization, and investments worldwide. The AMR report provides essential
insights that help business owners formulate effective strategies for future
growth and achieve their expansion goals.
Related
Reports:
Wire
and cable market:
Wire And Cable Market Size, Industry Analysis Report 2032 (alliedmarketresearch.com)
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