Middle East & Africa Iron Casting Market Size & Outlook
Middle East & Africa iron casting market, 2017-2030 (US$M)
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MEA iron casting market highlights
- The MEA iron casting market generated a revenue of USD 1,855.2 million in 2021.
- The market is expected to grow at a CAGR of 4.5% from 2022 to 2030.
- In terms of segment, gray was the largest revenue generating product in 2021.
- Ductile is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 1,855.2 million |
| Market revenue in 2030 | USD 2,768.3 million |
| Growth rate | 4.5% (CAGR from 2021 to 2030) |
| Largest segment | Gray |
| Fastest growing segment | Ductile |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gray, Ductile, Malleable |
| Key market players worldwide | Hitachi Ltd, POSCO Holdings Inc ADR, Georg Fischer AG, Calumet Specialty Products Partners LP, Brakes India, Chamberlin Plc, Crescent Foundry, Xinxing Ductile Iron Pipes, Newby Foundries, Grupo Industrial Saltillo(GIS) |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.8% of the global iron casting market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 118,848.5 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Iron Casting Market Scope
Iron Casting Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa iron casting market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to iron casting market will help companies and investors design strategic landscapes.
Gray was the largest segment with a revenue share of 62.84% in 2021. Horizon Databook has segmented the Middle East & Africa iron casting market based on gray, ductile, malleable covering the revenue growth of each sub-segment from 2017 to 2030.
The GDP of the Middle East & Africa contracted by 3.8% in 2020. The region is facing a sluggish recovery, with a GDP growth rate of 2.8% in 2021. In many parts of the region, governments are facing political instability, conflicts, economic collapses, and the post-effects of COVID-19, which has harshly impacted regional growth.
The 6 Gulf Cooperation Countries (GCC) countries, namely the UAE, Saudi Arabia, Oman, Kuwait, Qatar, and Bahrain in Eastern Arabia, are going to construct a 2,177kilometer railway system. Investment of this kind is anticipated to propel the demand for iron castings in the region.
Key private players of the energy market are investing in the Middle East & Africa to increase their share in the renewable energy industry. For instance, Siemens Gamesa Renewable Energy S.A. is building a 59 MW wind farm in a 395-hectare site in Djibouti.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa iron casting market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa iron casting market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA iron casting market size, by country, 2017-2030 (US$M)
Middle East & Africa Iron Casting Market Outlook Share, 2021 & 2030 (US$M)
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