Market Definition
Metal Fabrication Equipment is used in fabricating metals like steel, including carbon steel, stainless steel, alloy steel, tool steel, etc., in various industrial applications. The machines & equipment employed in the fabrication process for shaping the metals range across shears, saws, shapers, planers, along with milling, grinding, & drilling machines, etc. The mounting need for metal processing in various industries and rapid industrialization across the UAE have been driving the demand for metal fabrication equipment in the country for a few years.
Market Insights
The UAE Metal Fabrication Equipment Market is projected to grow at a CAGR of around 3.80% during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the mounting demand for metal fabrication equipment in the swiftly expanding manufacturing industries across the UAE, coupled with the surging government focus on diversifying the economy away from oil. It, in turn, is resulting in increasing investments in the construction sector to build commercial & residential complexes.
Besides, several prominent market players are also investing substantially in enhancing existing equipment. The growing adoption of metal fabrication equipment integrated with the latest technologies like the Internet of Things (IoT) & automation to improve performance efficiency shall also drive the market in the coming years. Additionally, vehicle sales across the UAE are substantially rising since they are of immense importance as a status symbol to the UAE population. Hence, the automotive industry is increasing its production capabilities, i.e., propelling the demand for metal fabrication equipment and displaying remunerative growth opportunities for the leading market players over the forecast years.
Moreover, the UAE government is actively participating in the Metal Fabrication Equipment Market in line with UAE Vision 2030 to attain sustainable development targets, including strategies to expand economic growth. For instance:
These initiatives are likely to act as crucial stimulators for the expansion of the UAE Metal Fabrication Equipment Market during the forecast period.
Key Trend in the UAE Metal Fabrication Equipment Market
The growing prevalence of Industry 4.0 is introducing a smart manufacturing process where the operations & physical production is carried out using technologies like machine learning, cloud computing, & big data, among others. These are principally to create a more inclusive & interconnected environment in manufacturing. Industry 4.0 metal fabrication equipment focuses on interconnectivity, automation, machine learning, and real-time data. Industry 4.0 in metal fabrication equipment provides real-time information about the occurring issues & informs engineers or the operators by sending alerts, thereby improving the productivity & efficiency of the manufacturing industry.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 3.80% |
| Key Companies Profiled | 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, Others |
| Unit Denominations | USD Million/Billion |
Impact of Covid-19 on the UAE Metal Fabrication Equipment Market
The Covid-19 pandemic in 2020 caused catastrophic upheavals for different industries across the UAE, where the Metal Fabrication Equipment Market was no exception. In response to the rapid spread of this dreadful disease, the UAE government imposed stringent movement restrictions & lockdowns.
As a result of cross-border restrictions and isolation practices, the market faced several unprecedented challenges like the unavailability of labor & raw materials & the shut down of industries, which resulted in massive financial losses to the leading market players. Additionally, these disruptions impacted both the supply chain & the demand for metal fabrication equipment.
However, on the other hand, while people had to stay indoors, the healthcare sector introduced a temporary upsurge in the market growth to build healthcare equipment like ventilators, oxygen cylinders, beds, & other provisions, basically due to the exponentially increasing number of Covid-19 patients.
Hence, it can be said that the UAE Metal Fabrication Equipment Market observed a downfall during the initial stages of the pandemic and witnessed swift growth in the later months. Moreover, since 2021, the government has uplifted the restrictions & allowed the recommencement of business operations, which, in turn, has enabled the market to regain its usual growth pace & revive from revenue losses.
