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Malaysia Overhead Cable Industry Analysis
The overhead lines/cables construction projects industry in Malaysia has been growing steadily in recent years. With the increasing demand for electricity and the country's push towards renewable energy sources, there has been a surge in the number of projects related to the construction of overhead lines and cables. The industry has been a key contributor to the country's economic growth, with numerous projects being awarded to both local and foreign companies.
Major Drivers:
The major drivers of the overhead lines/cables construction projects industry in Malaysia are the country's growing energy demands, coupled with the increasing need for renewable energy sources. The Malaysian government has set a target of achieving a renewable energy mix of 20% by 2025, which has led to an increase in the number of projects related to renewable energy. Another driver is the government's push towards the development of smart cities, which involves the integration of technology and infrastructure, including overhead lines and cables.
Industry Outlook:
The outlook for the overhead lines/cables construction projects industry in Malaysia is positive. The Malaysian government has allocated a significant portion of its budget towards the development of the energy sector, which includes the construction of overhead lines and cables. Additionally, the country's push towards renewable energy and the development of smart cities is expected to further drive demand for the industry. With the government's focus on creating a conducive environment for foreign investment, the industry is expected to attract more foreign players, leading to increased competition and innovation.
Local References:
One of the largest ongoing overhead line construction projects in Malaysia is the 500kV transmission line project from Hulu Terengganu to Gurun. The project, awarded to China National Electric Engineering Co. Ltd, is aimed at enhancing the country's power transmission capacity and is expected to be completed in 2023.
In 2020, Malaysia's largest solar power plant, the Bukit Selambau Solar Farm, was completed. The project, developed by Scatec Solar, has a capacity of 40MW and is expected to generate 65,000 MWh of electricity annually, contributing to the country's push towards renewable energy.
Conclusion:
The overhead lines/cables construction projects industry in Malaysia is poised for growth, with the government's focus on developing the energy sector and its push towards renewable energy and smart city development. The industry is expected to attract more foreign players, leading to increased competition and innovation. With the completion of large-scale projects like the Hulu Terengganu to Gurun transmission line and the Bukit Selambau Solar Farm, the industry has demonstrated its capability to execute projects efficiently and effectively, further enhancing its outlook.
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