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Levant Power Cable Market Analytical Overview, Growth Factors, Demand and Trends Forecast to 2025

Author : Rahul Sankrityayan | Published Date : 2019-10-07 

The Levant Power Cable Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

Global Levant Power Cable Market is expected to grow at over 8% and exceed USD 6 billion by 2024. Growing investment towards the refurbishment of war affected infrastructure in countries including Iraq and Syria will fuel the industry landscape. In March 2016, Siemens signed MoU with the Government of Iraq to strengthen the collaboration with the Ministry of Oil & Gas as well as Ministry of Energy for modernizing the oil & gas energy infrastructure.

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Shifting trends towards clean energy to reduce the dependency on conventional energy will stimulate the levant power cable market growth. In 2017, Government of Israel announced to develop largest solar power project having 310 MW capacity by 2018. The country also aims at meeting 10% electricity demand from the sustainable sources by 2020. In December 2016, the government of Jordan issued the 300 MW solar & wind energy tender with an aim to expand its clean energy infrastructure.

MV levant power cable Market is projected to surpass USD 2 billion by 2024 owing to its extensive applications across the growing T&D channels. In 2016, a state monopolist company, Egyptian Electricity Transmission announced to invest over USD 1.6 billion with an objective to strengthen its existing transmission network.

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Internal conflicts between rebels and government coupled with construction projects post-war will augment Syria levant power cable market share. The Government of Syria is creating opportunities for public-private financing within local authorities as well as mandating local organizations to work with the international community with an aim to conduct reconstruction projects in the country. However, the industry is poised to witness exponential growth post-civil war owing to rising investment towards affected areas.

Expansion of transmission and distribution network along with rising demand for electricity owing to rising urban population along with will further complement the levant power cable market. In 2017, Government of Iraq signed a USD 500 million electricity agreement with ABB towards the deployment of new energy transmission systems.

Turkey levant power cable Market is predicted to exceed USD 2 billion by 2024 on account of ongoing expansion programs across transport, energy, and communication sector. In 2016, Turkey announced to supply electricity to the Turkish Republic of Northern Cyprus (TRNC) with undersea cables by 2017.

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Major participants across the levant power cable market include Bahra, Riyadh Cables, KEI, The Okonite, Nexans, Prysmian, Southwire, Oman Cables, Belden, MESC Jordan, Saudi Cables, DUCAB, Nuhas Oman, Sumitomo Electric, and El-Sewedy.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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