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The GCC machine tools market is currently witnessing moderate growth. 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. On account of these factors, the market is expected to continue its moderate growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC machine tools market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, tool type, technology type and end use industry.
Breakup by Tool Type:
Breakup by Technology Type:
Breakup by End Use Industry:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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