The Gulf market for wire and cable witnessed a growth of 15 per cent in the past two years. This is in sharp contrast to a falling demand in the developed European and East Asian economies, according to Integer Research’s latest Wire and Cable Global Data Service.
This was revealed at the Wire & Cable Arabia event, the debut international trade fair for wire and cable industry, which kicked off recently and will run until January 13, at the Dubai International Convention and Exhibition Centre, Dubai, UAE.
The event is supported by Ducab, a leading global cable manufacturer, as principal sponsor, said a statement.
Wire & Cable 2015 has attracted diverse international and regional companies that are displaying latest technologies and solutions, said a statement.
Satish Khanna, general manager of Al Fajer Information and Services, organisers of the show, said: “The activity on the second day of Wire & Cable Arabia was robust, indicating that the industry is on a growth track in the Middle East, thanks to the construction boom and expansion of utilities infrastructure underway in the Gulf countries.”
The global economy as a whole saw a mild recovery in 2014, backed by a resilient US economy, but weakened by a depressed Eurozone economy. Elsewhere, China, India and other emerging countries showed signs of a slowdown, and both Russia and Brazil were on the downswing, according to Integer Research’s latest Wire and Cable Global Data Service.
Khanna added: “The overall global demand for wire and cable grew at 3.2 per cent year-on-year between 2008 and 2014, however in the Gulf region the growth was over 15 per cent, driven mainly by the utilities and communications network in the wider Gulf.”
Khanna added that there was a rise in demand for insulated wire and cable in the Gulf due to construction activity and the building of new power plants.
Companies participating in the show said that the demand for their solutions was high, signifying continuity in the growth of the wire and cable sector in 2015, it added.