Prime agenda of the government of Saudi Arabia is to diversify the oil-dependent economy of the country. As a result, significance is being laid on improving the country's healthcare, office, retail and education sectors along with the strengthening of the transportation infrastructure as well. Further, increasing private and public sector investment in infrastructure development would also spur the market demand for overhead cable management solutions in the country in the near future.
According to 6Wresearch, the Saudi Arabia Overhead Cable Management Solutions market revenues are projected to grow at a CAGR of 11.7% during 2018-24. Growing number of data centers, expansion of hospitality, healthcare, retail, SME and education sectors over the coming years would generate new demand for the use of overhead cable management solutions in the commercial domain in Saudi Arabia. Projects such as the $7.8 billion King Abdullah Financial District Project and the $22.5 billion Riyadh Metro Project along with several others are already in the development phase and would substantially contribute in enhancing the infrastructure and transportation sectors of the country.
According to Rachit Gulati, Research Analyst, Research and Consulting, 6Wresearch, "The commercial and power utilities sectors are the key revenue generating segments in the Saudi Arabia's overhead cable management solutions market due to the requirement of cable trays and trunking solutions in these sectors for handling the massive cable and wiring systems."
"The construction sector in particular is expected to grow rapidly on account of the government's emphasis on developing the country's social infrastructure that including hotels, retail space and offices,"Rachit further added.
According to Kanchan Negi, Research Associate, Research and Consulting, 6Wresearch, "Ladder cable trays make up the highest revenue generating segment in the overall cable tray market due to desirable features such as effective heat dissipation, maximum free air flow and the convenience of rungs for tying cables down."
According to Chhavi Malpani, Research Associate, Research and Consulting, 6Wresearch, "Saudi Arabia's cable tray market is presently dominated by hot dip galvanized type cable trays as these offer advantages such as higher corrosion resistance and durability as compared to other finishing types. The segment is expected to continue its dominance in the market during the forecast period as well."
Some of the major companies in Saudi Arabia overhead cable management solutions market include Legrand Seico, Thomas and Betts, Cooper Industries, Wescosa and Power Solution Industries.
"Saudi Arabia Overhead Cable Management Solutions Market (2018-2024)" report provides an in-depth analysis with 61 figures and 11 tables, covered in more than 125 pages. The report estimates and forecast the overall Saudi Arabia overhead cable management solutions market by revenue, overhead type, finishing types, cable tray types, regions and applications such as power utilities, commercial, industrial, oil & gas and others. The report also offer insights on competitive landscape, company profiles, market drivers and restraints.