MIDDLE EAST, NORTH AFRICA, AND PAKISTAN BUS BAR MARKET ANALYSIS

Middle East, North Africa, and Pakistan Bus Bar Market, By Bus Bar Size (Tin-plated Bus Bar)(25 x X (1.60, 2.00, 3.00);40 x X (2.00, 2.50, 3.00, 4.00); 60 x X (5, 10, 12); 80 x X (3.00, 4.00, 5.00, 6.00); 100 x X (5.00, 8.00, 10.00, 12.00); 120 x X (10.00, 4.00) and Others), By Bus Bar Size (Bare Copper Bus Bar) (80 x X, 90 x X, 100 x X, 125 x X and Others), By Bus Bar Type (Bare Copper Bus Bar, Aluminum Bus Bar, and Tin Plated Bus Bar), By Application (Distribution, Substation, Motor Control, Oil And Gas, and Others) and By Region (Middle East, North Africa, and Pakistan) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Jul 2021
Code : CMI4526
Pages :240
Formats :
Excel and PDF
Industry : Semiconductors

Market Challenges And Opportunities

Restraints & Challenges:

Fluctuation In Raw Material Prices

Increasing demand for electricity, increase in energy consumption due to urbanization & industrialization, and growth of the oil and gas industry across Middle East region are the factors which are expected to surge demand for switchgears, and consequently aid in growth of the bus bar market over the forecast period.

Furthermore, growth in the petrochemicals, power generation & distribution, natural gas exploration, and telecommunications sector will further increase demand for bus bars in Middle East region. For instance, according to the International Trade Administration, in 2016, Saudi Arabia introduced an investment plan of US$ 14.7 billion to refurbish as well as develop electricity transmission grids and another US$ 13.7 billion for an efficient distribution of electricity in the country.

Moreover, countries in the Middle East such as Saudi Arabia and the UAE have derived strong revenues from the oil sector that has led to the healthy GDP growth rates, owing to increase in revenues from the oil and gas sector. According to World Bank, an international financial institution, the GDP growth rate of Saudi Arabia was 2.2%, and that of the UAE was 1.4%, in 2018.

Increasing implementation of sustainable power transmission facilities to achieve continuous rising electricity demand will propel growth of bus bar market in Middle East region. For instance, in 2017, Saudi Electricity Company (SEC) announced the construction of six power plants and building of five interconnecting 380 kV transmission lines which require 1,376 miles of electrical conductors at an estimated cost of US$ 1.46 billion. Thus, high demand for electric power is leading to increasing requirement for transformers in these countries, which in turns, boost the bus bar market growth in Middle East region during the forecast period.