In the Middle East region, governments of many countries are focusing on providing adequate power infrastructure and efficient quality of power. As a result, the power sector of the region is expected to receive a healthy boost over the coming years. Additionally, the Middle East region is experiencing healthy growth across the infrastructure, construction, and manufacturing sectors due to rising investments across the non-oil sectors. Such developments would surge the power demand and would thereby impact the growth of the medium voltage switchgear market positively.
According to 6Wresearch, Middle East medium voltage switchgear market revenues are projected to grow at a CAGR of 2.7% during 2019-25. In the Middle East region, gas-insulated switchgear captured major revenue share in 2018, owing to their low maintenance and high durability features. The usage of GIS is expected to dominate many countries in the region over the coming years.
According to Kanika Arora, Research Associate, Research and Consulting, 6Wresearch, "Construction of new power plants along with expanding grid network across the region in order to avoid any disruption in the power supply and to meet the peak demand load during high consumption hours would upsurge power utility sector over the next six years. As a result, the demand for medium voltage switchgear would receive a significant boost in the future."
"Further, the commercial and industrial verticals in the Middle East are expected to fuel the market growth during the forecast period on account of rising investment to strengthen the non-oil economy, which in turn would accelerate the construction projects under the aforementioned sectors and would significantly drive the market for medium voltage switchgear during the study period in the region," Kanika Further added.
According to Navneet Aggarwal, Research Associate, Research and Consulting, 6Wresearch, "Upcoming global events such as World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar accelerated investment in the public infrastructure development and commercial domains in UAE and Qatar which is expected to increase the demand for medium voltage switchgear. Additionally, in Saudi Arabia, the government is focusing on the development of industrial and transportation verticals and thus aiming to provide the required electricity infrastructure for the same, this is likely to further boost the demand for medium voltage switchgear during the forecast period."
"Ring main unit acquired the majority of the revenue share on account of its high deployment in power utilities vertical in the Middle East region. Moreover, Metal Clad and other (Hybrid, Compact) types of switchgear would exhibit low growth due to old design and high installation cost respectively," Navneet further added.
Some of the major companies in the Middle East medium voltage market switchgear include Schneider Electric, Siemens, Eaton, ABB, and Lucy Electric.
"Middle East Medium Voltage Switchgear Market (2019-2025)" report provides an in-depth analysis with 177 figures and 53 tables covered in over 280 pages. The report estimates and forecasts the overall Middle East medium voltage switchgear market by insulation, types, voltage, verticals, and countries such as Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain along with Egypt. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.