Middle East Factory Automation and Assembly Technology Market Size Expected to Reach $46.1 Billion by 2026
Rapidly Increasing Demand for Fast Production Capacities Is Primarily Driving the Industrial Automation and Assembly Technology Market.
Hyderabad, India – July 22, 2021 /MarketersMedia/ —
Middle East Factory Automation and Assembly Technology Market is expected to reach $46.1 billion by 2026 at a CAGR of 5.1% during the forecast period 2021-2026, owing to rising industrialization automotive and food industry in the region. The number of local manufacturers for food processing and automotive parts are growing in the Middle Eastern countries such as Saudi Arabia, UAE, Oman, Iran and other. In addition increasing adoption of automation in these countries is accelerating the usage of high quality products with high volume production in various industries and assembly line. Moreover increasing installation and adoption of smart devices, industrial sensors, industrial Automation Motion Control System and many other factors driving the growth of the Middle East Factory Automation and Assembly Technology Market size during the forecast period.
Middle East Factory Automation and Assembly Technology Market Segment Analysis – By Hardware
Industrial robots is growing at a CAGR of 7.5% in the forecast period. Manufacturers in this region are installing industrial robots to make production and distribution easy and efficient. The installation of industrial robots is reducing human intervention in the production process, thereby reducing the cost of manufacturing with improved quality and increased production capacity. In addition these robots in assembling process decrease cycle times for assembly of the inner workings of many electronics like motherboards. With the decrease in assembly time, these robots are increasing productivity in many electronics manufacturing facilities, Moreover with the introduction of assembly robotic systems to the various industries has also driven down prices of the end products for consumers. Manufacturers are able to save money on labour and production costs, and they pass those savings along to their customers. Hence these benefits are analysed to drive the market in the forecast period 2021-2026.
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Middle East Factory Automation and Assembly Technology Market Segment Analysis – By Industrial Verticals
The power utility & water treatment segment is growing at a CAGR of 6.9% in the forecast period owing to favorable government initiatives to strengthen the renewable energy sectors across in these countries. Efforts being made to diversify the economies in the region would include the development of new power and water treatment plants in the forecast period. As a result, the number of non-oil industries would experience growth, which would in turn back the growth in demand for industrial automation across the region during the forecast period.
Middle East Factory Automation and Assembly Technology Market Segment Analysis – By Geography
Saudi Arabia dominated the market by a market share of more than 34% in 2020, government initiatives to reduce the dependency on the oil and gas sector and invest heavily in the domestic manufacturing sector including pharmaceutical, automobile, and food processing industries would spur the demand for Factory automation and assembly technology market. Moreover, the growing need for automation and assembly technology for better production efficiency in the industrial sector would open up new avenues.
Middle East Factory Automation and Assembly Technology Market Drivers
Demand for Fast Production Capacity Creates Need for Rampant Industrial Automation
A rapidly increasing demand for fast production capacities is primarily driving the industrial automation and assembly ttechnology market. Such a high demand mainly exists in terms of automotive assemblies, telecom networks, aircrafts, heat treating boilers and ovens, chemical plant machinery, steering and ship stabilization, and other machinery systems. For instance, Saudi Arabia National Industrial Development and Logistics Program, which seeks to attract an investment of around $427 billion in the Kingdom by 2030, in four domains such as manufacturing, mining, energy, and logistics. Additionally, the industrial revolution 4.0 initiative would help in powering industrial automation by increasing manufacturing productivity which in turn would drive the demand for industrial automation. All these factors are certainly expected to fuel the industrial automation and assembly technology market in the forecast period 2021-2026.
Growing demand for SCARA robots in manufacturing facilities
Increasing shift towards automation in the developing nation is anticipated to foster the SCARA robotics market over the forecast period. Companies in the Saudi Arabia has invested in the field of robotics and artificial intelligence. Around 41% of the activities in the country has become automated indicating the growth opportunities for the SCARA robotics market.
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Middle East Factory Automation and Assembly Technology Market Landscape
Middle East Factory Automation and Assembly Technology top 10 companies include Rockwell Automation, Honeywell, GE, ABB Ltd., Emerson, Dassault Systems, Autodesk, Mitsubishi, Schneider Electric, Siemens AG among others.
Key Takeaways
Saudi Arabia dominated the market by a market share of more than 34% in 2020, government initiatives to reduce the dependency on the oil and gas sector and invest heavily in the domestic manufacturing sector including pharmaceutical, automobile, and food processing industries would spur the demand for Factory automation and assembly technology market.
The power utility & water treatment segment is growing at a CAGR of 6.9% in the forecast period owing to favorable government initiatives to strengthen the renewable energy sectors across in these countries.
Industrial robots is growing at a CAGR of 7.5% in the forecast period. Manufacturers in this region allation of industrial robots is reducing human intervention in the production process, thereby reducing the cost of manufacturing with improved quality and increased production capacity.
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Source: MarketersMedia
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