Over US$10 billion ME cables, wires and tubes industry reaps growth dividends from infrastructure growth
- Robust oil and gas, construction and manufacturing sectors pave way for higher growth and investments
- Increased export focus leads 132 regional companies (incl. India) to take part in wire2024 & Tube 2024 in Dusseldorf across a cumulative area of 7.294 sqm.
The estimated over US$10 billion Middle East wire, cables and tubes industry reaping the dividends of infrastructure growth in the region is looking at enhancing their export potential further by participating in world’s leading twin trade fair, wire 2024 and Tube 2024 in Dusseldorf from April 15-19 next year.
Addressing a press conference, a spokesperson for Messe Dusseldorf GmbH, organisers of thetwo fairssaid 132 companies from the Middle East and India have confirmed participation, including 12 from the UAE and 110 from India, joining their global counterparts to tap into the opportunities presented by the global market estimated to grow from US$330 billion in 2021 to over US$420 billion by 2026 at a CAGR of 5 per cent.
“With robust and exponential growth in the development of infrastructure in sectors such as oil and gas, telecom, construction and industrial manufacturing, the Middle East is now a sweet spot for the wires, cables and tubes industry. The wire 2024 and Tube 2024 will be a platform and vantage point for ME companies to showcase their strengths and partner with global companies to take the industry forward with innovation and sustainability, “said Friedrich Georg Kehrer, Global Portfolio Director, wire / Tube and Flow Technologies, Messe Dusseldorf GmbH.
He said Middle Eastern companies have taken a cumulative exhibition space of 1.142 sqm this year.Exhibitors from the UAE includingDucab which exports over 60 per cent of its products to 45 markets across the Gulf, Asia, Oceania, Africa, Europe and the Americas. Other participants are from Bahrein, Egypt, Iran and Oman.
The leading global fairs,wire 2024& Tube 2024, will have around 2,000 exhibitors from across 60 countries from the US, Middle East, Central and South America, Asia and Africa, spread across over 1 million sq.ft.
“The Middle East is verysignificant forwire and Tube since large number of trade visitors come from the region. During the last show, we had 2.365 trade visitors, which was 5,5 per cent of the total visitors. Middle East is a dynamic region where companies like Ducab continues to create new benchmarks in growth, innovation and sustainable methods of production,” said Kehrer.
Apart from machinery and equipment for wire, cable, tube production, the wire 2024& Tube 2024 will also showcase processing and end products, technological advancements in pipe processing, forming and blending technology, machinery and equipment etc.
