Currently, the Machine Tools industry in Bahrain is dominated by the Automotive segment and the Metal cutting segment. According to the reliable sources, the Metal cutting segment is expected to grow at the highest CAGR during the forecast period. The Precision engineering segment is also expected to grow at the highest rate during the forecast period.
Automotive Segment Dominates the Machine Tools Market
Among the various industries in the global machine tools space, the automobile industry is a strong contender. In fact, the automobile industry is a key driver of the machine tools market in Europe. Aside from the obvious automotive, the machine tools industry also benefits from the growth of the electric vehicle industry. The most obvious reason is the need for efficient manufacturing tools to support the rising demand for electric vehicles.
The European machine tools market has been around for centuries and is in an advanced stage of development. The machine tools industry in Europe is divided into six major segments. The Automotive and automotive component segment dominates the market in terms of revenue and is the driving force behind the machine tools industry’s overall success. Other segments include Electrical and Electronics, Energy, Aerospace, and Metalworking.
Precision Engineering Segment in Machine Tools is Expected to Grow at the Fastest Rate in Bahrain Industrial Market
Various industries have a need for precision engineering machinery. This segment is expected to experience high growth in Bahrain over the forecast period.
The precision engineering machines are used to manufacture a wide range of products. These machines enable production units to increase production speed and accuracy. They are considered an economical solution for mass production. In addition to enabling increased production speed, they provide manufacturers with high quality-control power. Using advanced precision engineering machinery also helps in minimizing labor and setup costs.
Advancements in the technological field have led to the development of software that tracks real-time machining activities. This allows managers to make informed decisions and reduces downtime. It also enhances machining processes, driving accuracy and efficiency.
The aerospace industry is one of the major end-users of machine tools in Bahrain. This industry has observed an increase in the use of cutting tools. The rising use of CNC controller technologies in this industry has also contributed to the growth of the market.
Also, Bhavya Machine Tools has extensive experience developing and producing machine tools for a wide range of industries, and we are widely regarded as one of the top machine tool manufacturers for the Bahrain market.
Metal Cutting Segment to Grow at the Highest CAGR in Bahrain
During the forecast period, the metal cutting segment is expected to register the highest CAGR in Bahrain. The segment is primarily used to cut different types of metals for various purposes. These metals include aluminum, magnesium, nickel and copper.
The demand for metal cutting tools has increased significantly due to the growing automotive industry. The demand for metal cutting machines will also increase due to the growing energy-efficient technology adoption.
In addition, the rapid industrialization in advanced countries such as China and India has led to an increase in the manufacturing sector. This has also led to the increase in the demand for precision parts. Digitalization has helped reduce the lead times and increase productivity. It has also helped in lowering the overall cost of production.
Furthermore, the automotive industry is also a highly in-demand market for component suppliers. The rise in the demand for light vehicles has also increased the need for new welded automotive components.
And Bhavya Machine Tools as exporter of machine tools in Bahrain and different other countries is fulfilling this growing demand keeping in mind the evolving technology and customer demands to give the perfect machine tools for every industrial needs.
Drivers of the Machine Tool Market in Bahrain
During the period from 2021 to 2022, the machine tool market is expected to witness a considerable growth rate. This growth is primarily influenced by the rising demand for machine tools for production of metals, oil, aerospace, and automotive industries. Moreover, the market is expected to witness an increase in the volume of production and manufacturing capacity. In addition, manufacturers are investing in new machines to meet the rising demand.
Moreover, as Bhavya Machine Tools is one of the leading machine tools exporters and suppliers in Bahrain and all over the world, our machine tools are used for grinding, abrading, and cutting metals and other stiff materials. These tools provide various advantages, such as reduced scrap, uniformity of production, and bulk production. These tools are widely used in the aerospace industry and in the electronics industry of Bahrain.
The Bottom Line
Machine tools have a wide range of applications in the automotive industry. The demand for electric cars is increasing, boosting the use of these products in U.S., Canada, and Mexico. In addition, the automotive industry is experiencing an industrial revolution, leading to the use of advanced technologies and more number of cutting-edge machine tools.