World News: 10:06 GMT Wednesday 11th September 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Sept. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
Middle East low voltage switchgear market is projected to grow at a CAGR of 3.3% during 2019-25.
The commercial segment is expected to witness the highest growth in future due to increasing government initiatives to strengthen the non-oil sector and diversify the economy by building new hotels, resorts, museums, hospitals and tourism related infrastructure. These factors would translate into an increase in the Middle East low voltage switchgear market share in the commercial domain.
Government initiatives to reduce dependency of many countries in the Middle East region on the oil sector and to invest heavily in infrastructure development such as hotels, stadiums, offices and recreational facilities along with the strengthening of public service sectors such as education, recreation, tourism and health would open up new avenues for the application of low voltage switchgears over the coming years.UAE, Saudi Arabia and Qatar are the key revenue generators in the overall Middle East low voltage switchgear market. Development projects in the hotels, stadiums, airports and railways segments continue to play an important role in increasing the demand for low voltage switchgears in these regions. Further, recovering investors' confidence due to stabilizing oil prices would also lead to considerable infrastructural development and economic growth in these countries over the coming years as well.The report comprehensively covers the market by type, voltage, applications and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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Globe Newswire: 10:06 GMT Wednesday 11th September 2019
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