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Kuwait is expected to be the next big growth market in the GCC, after Saudi Arabia and Qatar, according to the CEO of the French international electronics provider, Schneider Electric.
In an interview with MEP Middle East, Jean-Pascal Tricoire said that infrastructure projects would continue to dominate the MEP market in the GCC, taking up the most number of resources and investment. He highlighted Qatar’s spending for the 2022 World Cup as being a major factor in its growth as a market for MEP.
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“However in Kuwait the infrastructure is a bit old, so sooner or later they’re going to update it. The general environment is quite old and I assume that it’ll be sooner, rather than later, that it is going to start,” he said on the sidelines of an event in Abu Dhabi.
He added that in 2012 he expected Abu Dhabi to continue with its existing projects, as there ‘were enough projects in the pipeline,’ but suggested that they would to be ‘extra careful’ with what they completed.
Furthermore, Tricoire said that the coming year would see Schneider look at stepping up their work on data centres in the GCC, as he felt that it was a market they could flourish in.
“People don’t know it, but Schneider is the world’s biggest worldwide supplier of energy to data centres, which is a very critical application."
"We are just starting in the Gulf, in respect to other places, but we should be doing much better. This is a place where we see more digitisation coming in here and it’s a very critical application for our customers,” he added.
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