GCC Machine Tools Market

Market Overview:

The GCC machine tools market size reached US$ 2,098.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,893.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Machine tools are used to cut, form, drill, grind, abrade and nibble metals and other hard materials. They help in reducing vibrations, achieving product uniformity and minimizing human interaction. Different types of machine tools are currently available in the GCC region, varying from workbench mounted instruments to devices used in modern industries.

Machine tools find extensive applications in the automotive, aerospace and electronics industries. Continual growth in these industries represents one of the key factors impelling the market growth in the GCC region. Apart from this, several companies are focusing on automating different manufacturing processes, which, in turn, is positively influencing the market growth. Furthermore, with the growing environmental concerns, machine tools are gaining traction in the region as they help minimize scrap during the production process. However, the coronavirus disease (COVID-19) outbreak and lockdowns imposed by governments in the GCC region have halted the manufacturing of various industrial products, which, in turn, is creating a negative impact on the market growth. The market is expected to experience growth again in the near future as relaxations are introduced. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC machine tools market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on tool type, technology type and end use industry.

Breakup by Tool Type:

• Metal Cutting
• Metal Forming
• Accessories
   

Breakup by Technology Type:

• Conventional
• CNC (Computerized Numerical Control)
   

Breakup by End Use Industry:

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

Breakup by Country:

• Saudi Arabia
• UAE
• Qatar
• Oman
• Kuwait
• Bahrain
   

Competitive Landscape:

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

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC machine tools market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC machine tools market?
• What are the key regional markets?
• What is the breakup of the market based on the tool type?
• What is the breakup of the market based on the technology type?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the GCC machine tools market and who are the key players?
• What is the degree of competition in the industry?