According to the latest market research study published by P&S Intelligence, the Saudi Arabia electrical and telecommunications wiring market is set to grow from USD 5,786.3 million in 2024 to USD 9,141.2 million by 2030, registering a Compound Annual Growth Rate (CAGR) of 7.9%. Key drivers include rapid urbanization, increasing infrastructure development across residential, commercial, and industrial sectors, and the rise of digitalization. The market is particularly driven by demand for copper wiring due to its superior conductivity and durability. Furthermore, the growing demand for 5G connectivity, data centers, and smart buildings will continue to fuel this growth, especially in urban centers like Al-Riyadh and Jeddah.
Key Insights
Segmentation Analysis:
The electric wire segment dominates with 65% of the market share in 2024, driven by their necessity in various infrastructure projects, including residential and commercial construction.
Low-voltage wires hold the largest share of the voltage category at 45%, primarily used in residential and commercial applications like lighting and HVAC systems.
The overhead installation type accounts for 70% of the market in 2024, owing to its cost-effectiveness compared to underground installations.
Regional Trends:
Al-Riyadh leads both in terms of market size and growth, with a significant portion of new infrastructure and residential projects concentrated in this region.
The demand for telecommunication wiring, particularly for fiber optics, is also growing rapidly in line with digitalization efforts and the rollout of 5G infrastructure.
Technological Advancements:
Saudi Arabia’s push towards smart cities and the integration of IoT in infrastructure projects is driving demand for advanced wiring systems that support automation and energy efficiency.
The rise of digital data centers and the growing internet connectivity needs have increased demand for high-quality telecommunications wiring, particularly fiber optics for faster internet and 5G networks.
Competitive Dynamics and Emerging Opportunities:
Major players in the market are focusing on technological innovations and product development to meet the evolving demands for sustainable and efficient wiring systems.
With ongoing construction projects driven by Saudi Vision 2030, including gas, solar, and wind power plants, the market presents significant opportunities for suppliers of medium-voltage electrical wires.
Despite the market's growth, the shortage of skilled labor remains a key challenge, potentially hindering the timely execution of large-scale infrastructure projects.
As urbanization continues, the residential sector remains the largest and fastest-growing end-use segment, presenting ample opportunities for wiring manufacturers to cater to the demand for modern and smart homes.
lead
Comments