Middle East Electrical Equipment Market revenue size is projected to grow at a CAGR of 8.4% during 2022-2028

Wire and cables have accomplished the largest revenue in the Middle East Electrical Equipment Market- 6Wresearch

Wires and cables acquired largest revenue share on the account of rapid usage of smart meters and ongoing infrastructure to utilize the telecom sector. The wires and cables segment are expected to grow in coming years by the growing investments in the power sector. Apart from this, rise in government investments in construction sector, especially in Saudi Arabia, which was awarded with maximum construction projects, would drive the demand for electrical equipment in the forecast period.

According to 6Wresearch, Middle East Electrical Equipment Market revenue size is projected to grow at a CAGR of 8.4% during 2022-28. The Middle East Electrical Equipment market is expected to grow in the upcoming years on account of increasing number of infrastructure projects coupled with rise in residential and industrial sector in the country. The market witnessed decline in revenues growth during COVID-19 Pandemic on account of government-imposed lockdown measures which resulted in the closure of production facilities and the postponement of infrastructure development. The competitive rivalry is high in the Middle East electrical equipment market due to the presence of several major players along with some local players who offer products at competitive prices. The threat of substitutes is low in the market as there are no direct substitutes available for electrical equipment’s.

According to Ravi Bhandari, Research Head, 6Wresearch, “Non-residential segment dominate the market on the back of large-scale infrastructure projects. The sector is dominating the market revenue share in Middle East Electrical Equipment Industry due to upcoming commercial and industrial projects.”

“Middle East Electrical Equipment Market (2022-2028)” report provides an in-depth analysis with 43 figures and 19 tables, covered in 115 pages. Middle East electrical equipment market report comprehensively covers the market by types, Applications, and countries. Middle East electrical equipment market report provides an unbiased and detailed analysis of the market on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.