Kuwait Low Voltage Wires and Cables Market revenue size is projected to grow at a Revenue CAGR of 5.1% during 2024-2030

By application segment, the power utilities category attained the highest revenue share in Kuwait Low Voltage Wires and Cables Market – 6Wresearch

By low-voltage cable applications, the power utility segment dominated the market revenue share as low-voltage cables are essential for distributing electrical power within buildings, homes, and other structures. Moreover, with upcoming initiative aims to introduce over 10,000 megawatts into the electrical grid by 2030, which would further propel the market for low-voltage cables in the power utility sector.

According to 6Wresearch, Kuwait Low Voltage Wires and Cables Market revenue size is projected to grow at a Revenue CAGR of 5.1% during 2024-2030. The Kuwait Low Voltage Wires and Cables Market has experienced moderate growth in recent years, driven by developmental initiatives such as the National Energy Efficiency Action Plan (NEEAP). Aiming for a 15% reduction in energy consumption by 2030, the NEEAP facilitated the issuance of tenders worth $353.7 million for electricity, water, and renewable energy projects in 2021-22. The infrastructure projects valued at $27.6 billion for 2023 and the additional $1.4 billion allocated for 2024-2025 are expected to drive up the demand for low voltage electrical wiring and cables in Kuwait. The market is poised for accelerated growth, supported by Kuwait's 2020-2025 development plan, which encompasses $124 billion worth of infrastructure projects. Some of the key initiatives include the development of five new cities, such as Silk City, and hospital projects amounting to $4 billion, aimed at boosting construction activities.

During the forecast period, the low voltage wires and cables market is expected to show a significant growth on account of Public Authority for Housing and Welfare announcing plans to build 2,50,000 housing units over the next 15 years, would further propel the wires and cables demand in the country. Moreover Sabah Al-Ahmad project which would reside 1,00,000 people upon completion as well as T2 terminal in Kuwait International Airport which is expected to be completed by 2026 would augment the demand for wires and cables for transmission of electricity, data, and communication signals.

According to Sumit, Senior Research Associate, 6Wresearch, underground low voltage cables in Kuwait's market are expected to experience significant growth soon, owing to their cost-effectiveness, ease of installation and maintenance, flexibility, and suitability for Kuwait's climate.

Kuwait Low Voltage Wires and Cables Market (2024-2030) report provides an in-depth analysis with 15 figures and 9 tables, covered in 61 pages. The report comprehensively covers the market by cables, installation, voltage and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.