GCC Machine Tools Market

GCC Machine Tools Market Overview:

The GCC machine tools market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Machine tools are instruments that are used for handling metal or other rigid materials by cutting, shearing, boring, or grinding. They push the solid materials using a power source, which is then processed using chemical, physical, and other methods. These tools consist of different parts, such as lathes, drilling machines, grinders, milling machines, and shapers and planers. They help in achieving product uniformity, reducing vibrations, and minimizing human interaction. Machine tools are made using carbon steel, cast alloys, high-speed steel, oxides, and diamonds. Broaching machines, gear shapers, drill presses, screw machines, power saws, and turning machines are some commonly available machine tools in the market. In the GCC region, various machine tools are available, ranging from large devices to small workbench-mounted instruments that are extensively deployed across the automotive, electronics, aerospace, and manufacturing industries.

The GCC machine tools market is primarily boosted by the growing number of small and medium enterprises (SMEs) in the region. The stringent evaluation criteria pertaining to product standardization and rising environmental awareness are acting as other growth-inducing factors. Moreover, the surging penetration of industrial automation trends to reduce manual workload and enhance productivity, supported by increasing investments in infrastructure development, such as railroads, highways, ports, and airports, are accelerating the market growth. In line with this, key market players are heavily investing in advanced technologies to introduce innovative machine tools, which is further positively contributing to the market growth. Besides this, the increasing product utilization in the automotive and medical sectors to produce lightweight vehicle parts and sophisticated medical instruments requiring utmost precision is propelling the market growth. Additionally, several companies in the GCC are focusing on automating their manufacturing processes, which, in turn, is creating a positive outlook for the market. Other factors, such as the rising exploration of new oil and gas fields, rapid technological advancement, and surging research and development (R&D) activities, are providing a considerable boost to the market.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC machine tools market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC machine tools market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC machine tools market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC machine tools market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC machine tools market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC machine tools market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC machine tools market industry. Furthermore, the value chain analysis of the GCC machine tools market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Machine Tools Market Segment Insights:

The GCC machine tools market has been analysed as followed:

By Tool Type:

• Metal Cutting
• Metal Forming
• Accessories

By  Technology Type:

• Conventional
• CNC (Computerized Numerical Control)

ByEnd Use Industry:

• Automotive
• Aerospace and Defense
• Electrical and Electronics
• Consumer Goods
• Precision Engineering
• Others

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Machine Tools Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC machine tools market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs