The Levant Power Cable Market is projected to reach a global market value of 1.6 billion in 2023, with a compound annual growth rate (CAGR) of 5.8% anticipated throughout the forecast period. The market is expanding due to a spike in demand for high-voltage cables to support growing integration of renewable energy. To increase efficiency, the government and other institutions are investing more in infrastructure improvements and grid modernization.

The necessity to lower carbon emissions and the growing emphasis on energy security are the main drivers of industry expansion. The main factor causing the notable growth is growing industrialization and urbanization. The market is growing as a result of the growing use of subterranean power cables for aesthetic and urban purposes.

 

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Growth Drivers

The need for dependable power transmission solutions is rising as a result of the rapid industrialization of nations like Syria, Japan, and Lebanon. investments in commercial hubs and transportation networks, among other infrastructure initiatives. Strong power cables are necessary to transfer electricity from generating locations to the grid as the region transitions to renewable energy sources like solar and wind.

The need for premium cables that can effectively manage fluctuating energy loads is being driven by this shift. The market is growing as a result of initiatives to modernize and extend current power infrastructures in order to increase efficiency and handle electricity demand. Performance is being improved by advancements in cable materials and manufacturing techniques.

Segmentation

By Application

·         Oil & Gas

·         Construction

·         Utility

·         Manufacturing

·         Transport

·         Other

By Voltage

·         Low Voltage

·         Medium Voltage

·         High Voltage

By Product

·         Power

·         Data & control

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Shanghai Electric Group

·         State Grid Corporation of China (SGCC)

·         LS cable systems

·         Nexans

·         Mitsubishi Electric

·         China Energy Engineering Group

·         Prysmian Group

·         Riyadh Cables

·         Saudi Cables

·         Southwire Company, LLC

·         Sumitomo Electric Industries

·         DUCAB

·         Elsewedy Electric

·         KEI Limited

·         Liban Cables

·         MESC

·         Midal Cables Ltd.

·         Oman Cables Industry SAOG

·         Ozguven Kables

·         Other Players

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