Robust oil and gas, construction and manufacturing sectors pave way for higher growth
The estimated over US$10 billion Middle East wire, cables and tubes industry reaping the dividends of infrastructure growth in the region is looking at enhancing their export potential further by participating in world’s leading twin trade fair, wire 2024 and Tube 2024 in Dusseldorf from April 15-19 next year.
Addressing a press conference, a spokesperson for Messe Dusseldorf GmbH, organizers of the two fairs, said 132 companies from the Middle East and India have confirmed participation, including 12 from the UAE and 110 from India, joining their global counterparts to tap into the opportunities presented by the global market estimated to grow from US$ 330bn in 2021 to over US$ 420bn by 2026 at a CAGR of 5 per cent.
Vantage Point
“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,” stated Friedrich Georg Kehrer, Global Portfolio Director, Wire / Tube and Flow Technologies, Messe Dusseldorf GmbH.
He confirmed that Middle Eastern companies have taken a cumulative exhibition space of 1.142 sqm this year. Exhibitors from the UAE include Ducab, 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.
Apart from machinery and equipment for wire, cable, tube production, the wire 2024 & Tube 2024 will also highlight processing and end products, technological advancements in pipe processing, forming and blending technology, machinery and equipment, the press statement concluded.
