The UAE Metal Fabrication Equipment Market is expecting around 3.80% CAGR during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The market growth attributes primarily to the rapidly developing & expanding manufacturing industries across the UAE. Additionally, the UAE government is actively taking initiatives by introducing new construction projects in line with UAE Vision 2030 to diversify the economy away from oil, which would also drive the market through 2026.
Besides, the integration of advanced technologies like the Internet of Things (IoT) & Automation into metal fabrication equipment to improve the performance efficiency shall also stimulate the overall market growth in the coming years, further states the research report, "UAE Metal Fabrication Equipment Market Analysis, 2021."
Increasing Demand for Metal Fabrication Equipment in Industrial Manufacturing to Drive the Market through 2026
The Industrial Manufacturing sector is expected to observe the fastest market growth during the forecast period. It owes principally to the rapidly increasing number of construction projects promoting industrialization in the UAE.
Metal fabrication equipment helps create precise & accurate shapes from metals & maintain industry standards fused with highly-advanced technologies. Due to this, the aerospace, defense, & automotive sectors are the largest end-users in the UAE Metal Fabrication Market. Moreover, substantial R&D investments in these industries by the UAE government shall also fuel the overall market growth in the coming years.
Need for Precise Metal Cutting in Automotive Industries to Boost the Demand for Laser Cutting Machines through 2026
Laser cutting machines are used primarily for cutting metals that are too difficult or even impossible to cut using conventional equipment. While cutting metal sheets, they consume relatively less energy and offer more precision than traditional machines. These characteristics associated with laser cutting machines are driving their demand across various industries in the UAE.
Additionally, the swiftly expanding automobile industry that requires precise metal cutting is also projected to positively influence the demand for laser cutting machines in the UAE over the coming years. It owes to the rapid urbanization & growing disposable income of people, i.e., contributing to the increasing vehicle sales in the country, reveals MarkNtel Advisors in their research report, "UAE Metal Fabrication Equipment Market Analysis, 2021."
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, and Dishaa Machinery & Tools LLC.
Key Questions Answered in the Study