The UAE Metal Fabrication Equipment Market is projected to grow at a CAGR of around 3.80% during 2021-26, says MarkNtel Advisors. It owes primarily to the increasing technological advancements such as the implementation of IoT and automation in the metal fabrication industry and growing investments by the government in R&D to produce modern equipment for various end-user industries.
In addition, the booming demand for this equipment across the automotive & aviation sector is another prominent factor driving the market across UAE. Moreover, the burgeoning need for high-quality end-use finishing products shall also contribute to fuelling the market growth in the coming years.
According to MarkNtel Advisors, the leading players in the UAE Metal Fabrication Equipment Market are GERIMA, Fezer, Rexroth Parker USA, AMADA, CIDAN Machinery Group (Yes Machinery), Drilltech Oilfield Equipment Manufacturing and Services LLC, NOK Corporation, Al Shirawi Equipment Company, Microteknik, Dishaa Machinery & Tools LLC.
1. By Steel Type (Carbon steel, Stainless steel, Alloy steel, Tool steel)
2. By Machinery (CNC/NC Hydraulic Press Brake, Hydraulic Swing Beam Shear Guillotine Shearing Machine, Hydraulic Press, Laser Cutting Machine, Ironworker, Others (plate rolling, lathes, drilling, milling, radial drilling, etc.))
3. By End Users (Industrial Manufacturing (including automobile, textile, etc.), Oil & Gas, Commercial, Residential, Water & Wastewater, Others (Aerospace, Marine, F&B, etc.))
Based on the End-User, Industrial Manufacturing to Display the Fastest Market Growth Through 2026
The growing demand for fabrication equipment across the industrial sector is due to the rising need to bring finishing and efficiency in multiple processes like welding, forming, stamping, machining, milling, etc. Besides, the increasing integration of the Internet of Things & Automation in fabrication equipment like smart tooling is anticipated to surge the demand in multiple industrial processes to attain real-time data about issues and revert the alerts to the user. Hence, the market shall attain the fastest growth across Industrial Manufacturing in the coming years, further states the research report, “UAE Metal Fabrication Equipment Market Analysis, 2021.”
Impact of Covid-19 on the UAE Metal Fabrication Equipment Market
• The Covid-19 pandemic had a decelerating impact on most industries in UAE, yet the Metal Fabrication Equipment Market got mildly affected.
• Initially, due to the imposition of lockdown & stringent movement restrictions, the market observed a few challenges like the shutdown of the manufacturing units, supply chain disruptions, unavailability of raw materials & labor.
• Consequently, the market witnessed financial losses and reduced growth pace with the production delays.
• However, while the pressure on the healthcare sector was mounting, the demand for metal fabrication equipment to make ventilators, beds, etc., significantly soared across the UAE.
• Hence, with the increased spending on automation technologies to maintain enough production & minimize the chances of hindrances by future crises, the forecast years are likely to be lucrative for the UAE Metal Fabrication Equipment Market.
Market Drivers & Opportunities
• Growing manufacturing operations surging the demand for machining & metal processing equipment across UAE
• Rapidly increasing industrialization across the prime cities of UAE to prevail driving the market
The most prominent aspect that might restrain the UAE Metal Fabrication Market in the coming years is the tight budget of Small & Medium-sized Enterprises (SMEs) looking for metal fabrication equipment.
Key Questions Answered in the Market Research Report:
1. What are the overall statistics or estimates (Overview, Size-By Value, Forecast Numbers, Segmentation, Shares) of the UAE Metal Fabrication Equipment Market?
2. What is the industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the UAE Metal Fabrication Equipment Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the UAE Metal Fabrication Equipment Market based on the competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the UAE Metal Fabrication Equipment Market study?
MarkNtel Advisors LLP is a premier market research center known for delivering thorough research, consulting, and data analytics services on the volatile market scenarios across numerous industries, including Information & Communication Technology, Consumer Goods & Retail, FinTech, Building & Construction, Automotive, Chemicals & Materials, Oil & Gas, etc., thereby enabling companies to make informed decisions and build their business strategies with clear-sightedness.
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This release was published on openPR.