Saudi Arabia Wire and Cable Market Overview, 2028

Saudi Arabia Wire and Cable Market Overview, 2028

An increase in the construction activities to cater to the growing needs of the rising population is expected to influence the wires & cables market growth. The establishment of the business hubs and rise in the number of official and commercial spaces is expected to contribute to the wires & cables market growth in the next years. The shift in the focus of the government towards the development of the tourism industry in Saudi Arabia and the construction of the transport sector is expected to accelerate the market growth. The rise in the adoption of optic cables is expected to propel the market growth in Saudi Arabia. Market has been developing rapidly in recent years with an increase in demand for high-quality, and innovative products. The expansion of smart grids and renewable energy projects has led to the growing demand for specialized wires and cables. The growing construction sector has resulted in a rise in demand for the wire and cable market in Saudi Arabia. The growing e-commerce sector has also increased the demand for data and communication cables. The implementation of new safety regulations has led to a demand for high-quality and fire-resistant wires and cables. The formation of new industrial parks has driven the demand for high-performance and specialized cables for various industries such as mining, oil and gas, and petrochemicals. The market is expected to continue its growth which is majorly driven by the country's economic development and increasing demand for advanced and specialized products. Further, the increase in automation and digitalization in Saudi Arabia is expected to drive demand for control and automation cables.

According to the research report ""Saudi Arabia Wire and Cable Market Overview, 2028,"" published by Bonafide Research, the Saudi Arabia wire and cable market was valued more than USD 3.4 Billion in 2022. Construction of utility infrastructure such as the expansion of electricity transmission lines, and a shift toward renewable energy sources for energy requirements is propelling the market growth. Under National Transformation Program (NTP), Saudi Arabia Vision 2030, the government plans to develop ports, railway lines, manufacturing facilities, and airports, with an aim to reduce the country’s dependency on the oil sector will further drive the demand for wire and cable product in Saudi Arabia. Direct Current (HVDC) transmission technology has been gaining attention in Saudi Arabia. HVDC cables are used for long-distance power transmission, enabling efficient power delivery over extended distances with reduced losses. This technology allows the integration of renewable energy sources and the transmission of electricity between different regions. In a region prone to extreme heat and fire hazards, the development of fire-resistant cables is vital. These cables are designed to withstand high temperatures, ensuring the safety and reliability of electrical systems during emergencies. Saudi Arabia has been focusing on developing and implementing fire-resistant cables in critical infrastructure and buildings. The country's push for renewable energy sources, such as solar and wind, has led to the development of interconnection technologies. Interconnecting renewable energy sources with the existing grid requires the deployment of specialized cables capable of transmitting the generated power efficiently and safely. Saudi Arabia has been exploring advancements in this area to support its renewable energy goals.

The optical fiber cable is gaining significant market growth in the wire and cable market of Saudi Arabia. Saudi Arabia is undergoing a digital transformation across various sectors, including telecommunications, IT, and data centers. Optical fiber cables are crucial for high-speed data transmission, enabling faster internet connectivity, improved telecommunications networks, and reliable data centers. The demand for optical fiber cables has grown as businesses and consumers require higher bandwidth and faster internet speeds. The Saudi Arabian government has been actively promoting the digital economy and investing in digital infrastructure. Initiatives such as Saudi Vision 2030, which aims to diversify the economy and develop a knowledge-based society, require robust digital infrastructure. Optical fiber cables play a vital role in supporting these initiatives by providing the necessary connectivity for advanced technologies, smart cities, and e-government services. The rollout of 5G networks requires extensive fiber optic infrastructure to support the increased data capacity and low latency requirements of this advanced technology. Saudi Arabia, like many countries, is investing in the deployment of 5G networks to enable faster mobile communications and support emerging technologies such as the Internet of Things (IoT), smart cities, and autonomous vehicles. Optical fiber cables are essential for 5G networks, driving their demand in the market.

Neom is a megacity project located in the northwest of Saudi Arabia. It aims to be a global hub for innovation and technology. The development of Neom involves extensive construction and infrastructure requirements, including power transmission, telecommunications, and transportation networks, which drive the demand for wire and cable. The Riyadh Metro is a major urban transit project that includes the construction of a rapid transit system in Riyadh, the capital city of Saudi Arabia. The project involves the development of six metro lines, spanning over 176 kilometres, and requires a significant amount of electrical wiring and cables for power distribution, signalling, and communication. The Red Sea Tourism Project is an ambitious initiative to develop a luxury tourism destination along the Red Sea coastline. The project envisions the construction of resorts, entertainment facilities, and other infrastructure. Such developments would require substantial wiring and cabling to meet the electrical and communication needs of these facilities. SPARK is an industrial city focused on the energy sector, located in the Eastern Province of Saudi Arabia. The project aims to attract local and international companies in the oil, gas, and petrochemical industries. As an industrial hub, SPARK demands a robust electrical infrastructure, including wiring and cables, to support power distribution and connectivity requirements.

Considered in this report
• Geography: Saudi Arabia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Saudi Arabia Wire and Cable market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Voltage Type
• Low Voltage
• Medium Voltage
• High Voltage
• Optical Fiber Cable

By End User
• Power Infrastructure (Energy, Power Transmission and Distribution)
• IT & Telecommunication
• Building & Construction (Commercial and Residential)
• Aerospace & Defence
• Consumer Electronics
• Automotive (Passenger, Commercial and Utility Vehicles
• Others (Oil & Gas Industry, Industrial Machinery and Manufacturing, Medical Equipment, Logistics, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Wire and Cable industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.