Southeast Asia and Middle East Copper Wire and Cable Market Research, 2032
The Southeast Asia and Middle East Copper Wire and Cable Market was valued at $22.74 billion in 2022, and is projected to reach $52.63 billion by 2032, registering a CAGR of 9.77% from 2023 to 2032.
Electric systems depend on copper wire and cable because they are good conductors of electricity. These cables have copper conductors surrounded by insulation materials, which allow power to be transmitted for different purposes. Copper wires are used in many areas as the main component of electrical systems around the world since they can be easily modified to suit any setting where complex connections may be required for effective distribution of power.
These cables also support internet connections through data signaling in telecommunications; besides that, they are necessary for supplying electric energy in transportation such as trains, cars among others airplanes, renewable sources like solar or wind energy for efficient distribution of power. Therefore, without copper wire and cable it would be impossible to pass without smooth transfer current between two points together with information from one place to another thus enhancing creativity as well as development in various sectors of economy.
Key Takeaways of Southeast Asia and Middle East Copper Wire and Cable Market Report
- By type, Southeast Asia and Middle East Copper Wire and Cable industry is divided into copper wire, and copper cable. In 2022, the copper wire segment dominated the market, in terms of revenue, and it is expected to grow with a higher CAGR during the forecast period.
- By region, Southeast Asia dominated the Southeast Asia and Middle East Copper Wire and Cable Market, in terms of revenue, and it is expected to grow with a higher CAGR during the forecast period. Rapid development in countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE, along with population growth and urbanization are expected to play an instrumental role in the Southeast Asia and Middle East Copper Wire and Cable Market growth.
Segment Overview
The Southeast Asia and Middle East Copper Wire and Cable Market is segmented into type and region.
By Type
On the basis of type, the Southeast Asia and Middle East Copper Wire and Cable Market industry is divided into copper wire and copper cable. In 2022, copper wire segment dominated the market in terms of revenue.
By Type
Copper Wire segment influence the market in 2022,and is expected domiante the market in future.
By Region
On the basis of region, the Southeast Asia and Middle East Copper Wire and Cable Market industry is divided into Southeast Asia and Middle East. In 2022, Southeast Asia dominated the market in terms of revenue. This is attributed to infrastructural development for data centers, telecommunication towers and others during the forecast period.
By Country
South East Asia segment garner significant market share in 2022.
Competitive Analysis
Competitive analysis and major Southeast and Middle East Copper Wire and Cable Manufacturer are provided in the report. Major Southeast and Middle East Copper Wire and Cable Company List profiled in the report include Ta Win Holdings, METROD METALS PRIVATE LIMITED, Orion Wire and Cable, Inc., PT. Prysmian Cable, PT. KMI Wire and Cable, PT. Voksel Electric Tbk, PT. Jembo Cable Company Tbk, PT. Phenolic Prima, LS Vina Cables and System, and Sterlite Copper (A Unit of Vedanta Limited), Energya Group, Elsewedy Electric S.A.E., Oman Cables, Gulf Cables and Electrical Industries Group Co., GIC Magnet Wire FZCO, Dubai Cable Company (DUCAB), Union Copper Rod LLC, Riyadh Cables, Bahra Electric, Sarkuysan Electrolytic Copper, Jeddah cables company, Saudi Cable Company, Saudi Wires Company Ltd. The key strategies adopted by the major players of the Southeast Asia and Middle East Copper Wire and Cable Market is acquisition, agreement, award, contract, collaboration, and investment.
Market Dynamics
Development of smart grids and investments in smart upgrading of power systems
The development of smart grids along with the upsurge in investments in smart upgrading of the power transmission and distribution systems boosts demand for copper wire and cable. For instance, smart grid technology has met increase in need for grid interconnections therefore, resulting in surge in investments for the new underground as well as submarine cables. In addition, the need for overcoming shortcomings of the traditional grid has led to the proliferation of smart grid technologies as well as upgradation of power system. For instance, a smart grid helps reduce greenhouse gas emissions by significant amount and is much more reliable than a traditional grid. Insulated copper wires and cables are essential components of the smart grids; thus, development of smart grids and investments in smart upgradation of power systems drives growth of the Southeast Asia and Middle East copper wire and cable market.
Rapid urbanization and rise in investments across industrial sector
Urbanization generally brings improved productivity, better incomes, education, transport, and healthcare. Integration of information and communications technologies are developing smart infrastructures to improve operations across traffic flows, public transportation, energy, water usage, and healthcare services due to urbanization. This factor creates exponential demand for wires and cables for transmission of data and electricity.
For instance, with urbanization, 68% of the world’s population is expected to live in urban areas by 2050. This shift toward urbanization across the globe boosts the demand for more electric power due to rapid development of infrastructure as well as the significant expansion of national electricity grids.
Competition from alternative material
Competition from alternative material such as aluminum, nickel, and fiber optics are gaining popularity in certain application in recent year. Aluminum wires provide cost advantages as they are generally cheaper than copper, which make them an attractive option for budget conscious project. Moreover, advancements in aluminum alloys have improved their performance, enhancing their suitability for various tasks, particularly in long-distance power transmission. Similarly, the growing popularity of fiber optics presents another formidable alternative, driven by their superior data transmission speeds and broader bandwidth capabilities compared to traditional copper cables.
Recent Developments in Southeast Asia and Middle East Copper Wire and Cable Market Industry
- In August 2023, Elsewedy Electric, announced that its Saudi unit is playing a key role in the Kingdom's $500 billion futuristic project NEOM with the supply of its cables for the development on the Red Sea coast. Elsewedy Electric is providing low- and medium-voltage cables for the two 28 km tunnels being built as part of The Line, the world's first zero-gravity vertical city, which is also planned to accommodate 9 million people.
- In November 2022, Elsewedy Electric in partnership with ReNew power signed a framework agreement with the Government of Egypt for a green hydrogen project.
Key Benefits For Stakeholders
- This report provides a quantitative Southeast and Middle East Copper Wire and Cable market analysis of the market segments, current trends, estimations, and dynamics of the Southeast Asia and Middle East Copper Wire and Cable Market analysis from 2022 to 2032 to identify the prevailing Southeast Asia and Middle East Copper Wire and Cable Market opportunity.
- The market research is offered along with information related Southeast and Middle East Copper Wire and Cable Growth drivers, restraints, opportunities, and Southeast and Middle East Copper Wire and Cable Market Forecast.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Southeast Asia and Middle East Copper Wire and Cable Market share by company, segmentation assists to determine the prevailing market opportunities.
- Major Southeast and Middle East Copper Wire and Cable Market Size by Country in each region are mapped according to their revenue contribution to the regional market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional analysis of Southeast Asia and Middle East Copper Wire and Cable Market trends, Southeast and Middle East Copper Wire and Cable Market Share by Companies, Southeast and Middle East Copper Wire and Cable Market Trends, Southeast and Middle East Copper Wire and Cable Market Insights, Southeast and Middle East Copper Wire and Cable Industry Report, market segments, application areas, and market growth strategies.
Southeast Asia and Middle East Copper Wire and Cable Market Report Highlights
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Analyst Review
According to the CXOs of leading companies, the copper wire and cable market is going through enormous transformation and growth. Factors such as increased demand for electricity and robust investments in building construction mainly drives growth of the copper wire and cable market. In addition, the development of smart grids along with the upsurge in investments in smart upgrading of the power transmission and distribution systems boosts demand for copper wire and cable. On the contrary, rapid urbanization along with rise in investments across industrial sector is anticipated to create lucrative growth opportunities for the market during the forecast period. Southeast Asia Copper wire and cable market was significantly impacted by the COVID-19 outbreak. Production facilities of the electrical, electronics, and semiconductors were halted, owing to the slowdown and unavailability of the workforce across the region. COVID-19 outbreak caused a significant and protracted drop in manufacturing utilization, and travel bans & facility closures kept workers out of their factories, which led to slowdown in the growth of the copper wire and cable market.
The copper wire and cable market is competitive and comprises a number of regional vendors competing on the basis of factors such as cost of hardware; reliability; efficiency; and cost of the product & support services. Owing to the competition, vendors operating in the market are developing advanced copper wire and cable solutions to improve the marketing strategies of enterprises. For instance, in May 2023, Sterlite Copper a subsidiary of Vedanta Limited, joined hands with Serentica Renewables India Private Ltd (SRIPL) to establish a special purpose vehicle (SPV) for sourcing hybrid renewable energy. A Power Delivery Agreement (PDA) has been signed as part of the deal to source 16 MW of hybrid renewable power for Sterlite’s Silvassa Unit.
The Southeast Asia and Middle East Copper Wire and Cable Market was valued at $22.74 billion in 2022, and is projected to reach $52.63 billion by 2032, registering a CAGR of 9.77% from 2023 to 2032.
The forecast period in the Southeast Asia and Middle East Copper Wire and Cable Market report is 2023 to 2032.
The base year calculated in the Southeast Asia and Middle East Copper Wire and Cable Market report is 2022.
The top companies analyzed for Southeast Asia and Middle East Copper Wire and Cable Market report are a Win Holdings, METROD METALS PRIVATE LIMITED, Orion Wire and Cable, Inc., PT. Prysmian Cable, PT. KMI Wire and Cable, PT. Voksel Electric Tbk, PT. Jembo Cable Company Tbk, PT. Phenolic Prima, LS Vina Cables and System, and Sterlite Copper (A Unit of Vedanta Limited), Energya Group, Elsewedy Electric S.A.E., Oman Cables, Gulf Cables and Electrical Industries Group Co., GIC Magnet Wire FZCO, Dubai Cable Company (DUCAB), Union Copper Rod LLC, Riyadh Cables, Bahra Electric, Sarkuysan Electrolytic Copper, Jeddah cables company, Saudi Cable Company, Saudi Wires Company Ltd.
The copper wire segment is the most influential segment in the Southeast Asia and Middle East Copper Wire and Cable Market.
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