Saudi Arabia Machine Tools Market Size & Outlook
Saudi Arabia machine tools market, 2018-2030 (US$M)
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Saudi Arabia machine tools market highlights
- The Saudi Arabia machine tools market generated a revenue of USD 179.5 million in 2022 and is expected to reach USD 256.1 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.5% from 2023 to 2030.
- In terms of segment, metal cutting was the largest revenue generating type in 2022.
- Metal Cutting is the most lucrative type segment registering the fastest growth during the forecast period.
Machine tools market data book summary
| Market revenue in 2022 | USD 179.5 million |
| Market revenue in 2030 | USD 256.1 million |
| Growth rate | 4.5% (CAGR from 2022 to 2030) |
| Largest segment | Metal cutting |
| Fastest growing segment | Metal Cutting |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metal Cutting, Metal Forming |
| Key market players worldwide | AMADA Co Ltd, Dmg Mori Co Ltd, Georg Fischer AG, Hyundai Motor Co, Komatsu Ltd, JTEKT Corp, Okuma Corp, Hurco Companies Inc, Datron AG, DN Solutions, Makino Milling Machine Co Ltd, General Technology Group Dalian Machine Tool Co., Amera-Seiki, Haas Automation |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.2% of the global machine tools market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa machine tools market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 281.0 million by 2030.
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Machine Tools Market Scope
Machine Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia machine tools 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 machine tools market will help companies and investors design strategic landscapes.
Metal cutting was the largest segment with a revenue share of 88.02% in 2022. Horizon Databook has segmented the Saudi Arabia machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
The economy of the Kingdom of Saudi Arabia (KSA) is predominately oil-based, with the government controlling majority of the economic activities. As a result of implementing the structural reforms outlined in Vision 2030.
The country is predicted to see substantial economic growth. Multiple benefits are provided by the country including direct free trade access to the GCC market, advantageous tax exemptions, competitive land & energy costs, and a well-developed infrastructure.
Vision 2030, along with substantial expenditures in housing and infrastructure development sponsored by local governments around the nation, is revitalizing construction industry and attracting an increasing number of multinational enterprises. Due to the substantial growth of construction industry.
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Our clientele includes a mix of machine tools market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia machine tools market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia machine tools market size, by type, 2018-2030 (US$M)
Saudi Arabia Machine Tools Market Outlook Share, 2022 & 2030 (US$M)
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