Over $10 billion ME cables, wires and tubes industry reaps growth dividends from infrastructure growth

Over $10 billion ME cables, wires and tubes industry reaps growth dividends from infrastructure growth

Addressing a press conference, a spokesperson for Messe Dusseldorf GmbH, organisers of the two fairs said 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 $330 billion in 2021 to over $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 including Ducab which exports over 60 per cent of its products to 45 markets across the Gulf, Asia, Oceania, Africa, Europe