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Integer Research Ltd - Arab Spring Impact Fails to Derail Growth in MENA Wire and Cable Markets
 

LONDON, April 10, 2013 /PRNewswire/ -- The market for insulated wire and cable in the Middle East and North Africa (MENA) has experienced highs and lows in recent years.  The rally in oil prices from the mid-2000s to 2008 fuelled a boom in demand for cable from construction and infrastructure developments in the GCC, resulting in many companies adding cable making capacity.  Meanwhile, European OEMs actively invested in North Africa's wiring harness assembly industry, boosting local wire and cable consumption. 

Since the boom, the MENA cable industry has faced upheavals from both the Arab Spring and global financial crisis, resulting in new capacity coinciding with a sharp drop in demand for cable.  Since the lows of 2009 when consumption contracted by 28% year-on-year to US$8.4 billion, the MENA wire and cable market has steadily recovered to reach US$15.4 billion in 2012, up by 5.4% from 2011. 

'Despite ongoing challenges, especially the threat of further unrest, the outlook for the MENA cable market to 2017 is promising,' says Andrea Valentini, Senior Analyst and Editor of Integer Research's new Wire & Cable Focus Report: Middle East and North Africa Markets. 'The short term effects of the Arab Spring, including project cancellations and delays, have been disruptive.  However, the rebuilding and opening up of some North African markets post-Arab Spring, plus increased investment in infrastructure by GCC governments seeking to maintain political stability, should allow further gains in MENA demand.'

Within MENA, the North Africa and GCC cable markets are distinct, even though they share a common Arab heritage. 'The GCC cable consumption is much larger than North Africa's, and is dominated by power cable and building wire.  In 2012, the GCC market reached almost 1.2 million gross cable tonnes, compared with 520,000 tonnes in North Africa,' says Josie Armstrong, Business Manager of the Wire and Cable Team.  'In contrast, a key determinant of North African cable consumption is the outsourcing of wiring harness assembly from European automotive and other OEM supply chains.'

About Integer ResearchInteger Research is a specialist provider of research, data, analysis and consultancy services across a range of global industrial markets, including wire and cable, fertilizers and emissions.

SOURCE Integer Research Ltd


Posted by : Dubai PR Network Editorial Team
Viewed 7338 times
PR Category : Technology
Posted on : Thursday, April 11, 2013  4:31:00 PM UAE local time (GMT+4)
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