What is driving the Press brake demand in the UAE? What are the opportunities and threats in this market? How will you segment this market? Here are some of the key points to consider. In addition, we will discuss the segmentation of the market in order to understand how to improve the demand for press brake machines. The next section will address the opportunities and threats facing the industry. It will also discuss the segmentation of the market in terms of product type.
Demand for Press Brake Machines
Developed economies are the main contributors to the growth of the press brake machines market in the UAE. These countries are also investing heavily in transportation infrastructure and are expected to benefit from the rising volumes of air, rail, and maritime traffic in the coming years. The United States is the largest contributor to the press brake machines market in the UAE and is projected to exhibit steady growth over the forecast period (2022-2032).
As the number of automotive production facilities rises, the demand for press brake machines in UAE is expected to increase at a four-year compound annual growth rate (CAGR) through the end of the forecast period. This demand is being driven by the growing use of sheet metal in manufacturing, particularly in the automotive and electrical industries. Sheet metal is also used for many small components and enclosures. By utilizing press brake machines in manufacturing operations, the UAE has an abundant supply of these types of products.
Opportunities for Press Brake Machines Market
The UAE is a fast-growing market for mechanical press brake machines, with opportunities for expansion in various sectors. The construction industry is one of the largest users of these machines, which are used for bending and shearing metal sheets. In addition to construction, metals play a major role in the power and energy infrastructure, and supportive government regulations support expansion of the industry. Meanwhile, government regulators are pushing for energy efficiency measures, thereby promoting the utility and electricity industry. This in turn will increase the demand for press brake machines and will also lead to more job opportunities for skilled labor in the region.
The COVID-19 pandemic has disrupted the world’s economy, resulting in lockdown regulations in several nations. The global economy is affected by the virus in three fundamental ways: the supply chain, the market, and the financial sector. As a result, analysts are tracking the global economy to determine the remunerative prospects for press brake producers.
Press Brake Machines Market Segmentation
The electric press brake market is a highly consolidated one with US-based players dominating a large share. The COVID-19 pandemic is expected to further spur growth in the industrial automation sector. The UAE’s economy is highly dependent on metals, making press brake machines a vital part of construction and power & energy industry.
Application of Press Brake Machines
The UAE has high demand for press brake machines. The construction industry is one of the largest users of this equipment. This equipment is used to bend metal sheets. The power and utility industries are largely dependent on metals, and significant sheet metal operations are needed to build them. Supportive regulations and government policies encourage expansion of the power & energy industries, which in turn fuel press brake machine demand. To meet these demands, government regulators have been pushing energy efficiency initiatives, which are driving the demand for press brake machines.
The Bottom Line
The global market of press brake machines is expected to grow at a CAGR of about 8% from 2022 to 2024. In addition to power and energy, the construction industry uses sheet metal for building enclosures, housings, brackets, and small components, thus driving its demand in UAE and various other countries.