GCC transformers market: Is the region still an attractive market for manufacturers?
Despite its ups and downs, the overall GCC transformers market is still a large demand centre for both power and distribution trans-formers
by Hassan Zaheer
Image source: TM
GCC market has been having its ups and downs in the last few years. What used to be one of the most attractive T&D equipment markets might be losing its high place in the eyes of international manufacturers. A big part of it has to do with the region’s dependency on oil revenues, which, in the last few years, have not been stable, owing to the lower oil prices. Infrastructure consumption has reduced significantly over the years with austerity measures in place. In addition to this, the overall geopolitical situation in the Middle-East region has had its toll on the GCC markets, making it difficult for international manufacturers to do business in the rest of the region using GCC countries as a regional base.
Despite its ups and downs, the overall GCC transformers market is still a large demand centre for both power and distribution trans-formers
GCC market has been having its ups and downs in the last few years. What used to be one of the most attractive T&D equipment markets might be losing its high place in the eyes of international manufacturers. To find out more about this industry-relevant topic, click here or subscribe and read the full digital version of the article.
Keywords: COVID-19, distribution transformers, future trends, GCC, Gulf countries, market overview, power transformers
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