The Kuwait Low Voltage wires and cables market has experienced substantial growth in recent years, driven by significant government investments in infrastructure. Notable projects include investment of $132 billion in Madinat Al Hareer in Subiya, $10 billion and $8 billion allocation for rail transport infrastructure, and the development of the new Kuwait Airport Terminal 2, all of which are crucial to the country's expansion plans. Furthermore, the 2022-2023 budget saw $1.1 billion dedicated to infrastructure projects, coupled with the allocation of an additional 36 infrastructure projects worth approximately $1.4 billion, for FY2024-2025.
Kuwait Low Voltage Wires and Cables Market Overview
According to the research, Kuwait Low Voltage Wires and Cables Market revenue size is projected to grow at a Revenue CAGR of 5.1% during 2024-2030. This anticipated growth is largely driven by government initiatives focused on enhancing infrastructural, residential, and commercial development. For instance, in 2023, Kuwait allocated approximately $45 billion to build new cities and develop its infrastructure and launched a four-year program for 2023-2027 that includes 107 major development projects across various sectors. These initiatives are expected to drive the need for reliable and high-quality Low Voltage wiring to support the growing infrastructure and technological advancements.
Moreover, the development of both residential and non-residential buildings is a key growth driver, with the Kuwaiti government planning large-scale integrated housing projects valued at around $135 billion. Also, the expansion of Saad Al Abdullah residential suburb, South Sabah Al Ahmad and East Sabah Al Ahmad would lead to increase in supply of housing units, fostering the expansion of the construction sector. These investments would likely lead to a surge in construction and upgrading of residential, commercial, and public buildings, all of which require extensive wiring solutions, thereby increasing the demand for Low Voltage wires and cables in Kuwait.
Kuwait Low Voltage Wires and Cables Market Segmentation
Market Segmentation by Cables
In 2023, power cables led the revenue share in Kuwait's low-voltage cable market. This dominance is driven by their crucial role in extensive infrastructure and power projects. Also, significant investments in power generation, transmission, and distribution networks, fueled by Kuwait's development plans, contribute to this demand.
Market Segmentation by Installation
In 2023, overhead low-voltage cables accounted for the majority of revenues in the Kuwait low-voltage cable market. This dominance is due to their cost-effectiveness, ease of installation, maintenance and suitability for Kuwait's climate, particularly in urban and semi-urban areas where underground infrastructure could be challenging.
Market Segmentation by Voltage
In 2023, Low Voltage cables operating within the range of 241 to 440 volts secured the largest share of revenues in the Kuwait Low Voltage cable market owing to its extensive use in laying the connection from transformers to residential, commercial and industrial entities.
Market Segmentation by Application
The power utility sector is anticipated to experience rapid growth in the coming years, driven by government subsidies for renewable energy projects, the implementation of a net metering program, and the increasing demand for electric vehicles. Government support is making renewable energy more appealing to investors, spurring the demand for low-voltage cables. The net metering program allows households and businesses to generate and sell excess electricity, further increasing the need for low-voltage cables. Additionally, the growing popularity of electric vehicles necessitates charging infrastructure, which relies on low-voltage cables, contributing to the sector's expansion.
Kuwait Low Voltage Wires and Cables Market Opportunity Assessment
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Kuwait Low Voltage Wires and Cables Market Overview
- Kuwait Low Voltage Wires and Cables Market Outlook
- Kuwait Low Voltage Wires and Cables Market Forecast
- Historical Data and Forecast of Kuwait Low Voltage Wires and Cables Market Revenues for the Period 2020-2030F
- Historical Data and Forecast of Kuwait Low Voltage Wires and Cables Market Revenues, By Installation, for the Period 2020-2030F
- Historical Data and Forecast of Kuwait Low Voltage Wires and Cables Market Revenues, By Voltage, for the Period 2020-2030F
- Historical Data and Forecast of Kuwait Low Voltage Wires and Cables Market Revenues, By Application, for the Period 2020-2030F
- Market Drivers and Restraints
- Key Performance Indicators
- Kuwait Low Voltage Wires and Cables Market Revenue Share, By Companies, 2023
- Key Competitors Analysis
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Cables
- Power Cables
- Coaxial Cables
- Fibre Optic Cables
- Signal and Control Cables
- Telecom and Data Cables
By Installation
- Overhead
- Underground
By Voltage
- Upto 240V
- 241V-440V
- Above 440V
By Application
- Commercial
- Residential
- Power Utilities
- Industrial
- Others (Renewable Energy, Public Infrastructure, Transportation etc.)
Table of Contents
Companies Mentioned
- Elsewedy Electric
- Alfanar Group
- MESC
- Bahra Electric
- Prysmian Group
- Gulf Cables & Electrical Industries Group Co. KSCP
