Middle East & Africa Electromechanical Joining Servo Press Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 108 | Report Code: BMIRE00031825 | Category: Manufacturing and Construction
No. of Pages: 108 | Report Code: BMIRE00031825 | Category: Manufacturing and Construction
The Middle East & Africa electromechanical joining servo press market size is expected to reach US$ 16.20 million by 2031 from US$ 10.87 million in 2023. The market is estimated to record a CAGR of 5.1% from 2023-2031.
The electromechanical joining servo press market in the Middle East and Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East and Africa. Various African countries are reporting a rise in production, employment, trade, and foreign direct investments (FDIs), which is bolstering the growth of the manufacturing sector in this region. Furthermore, the rising industrialization attracts investments in higher value-added and export-led manufacturing in the sectors, including automotive, electronics, and medical, among others. As per the data from OICA, Saudi Arabia registered an increase in the sales of commercial vehicles by 16.6%, from 0.097 million units to 0.113 million units in 2023. In addition, sales of commercial vehicles, including heavy commercial vehicles, buses and coaches, and light commercial vehicles, in Israel increased by ~192% from 30,383 units in 2022 to 88,904 units in 2023. Such a rise in the sales of vehicles in the region is expected to fuel the demand for electromechanical joining servo presses, which, in turn, is projected to boost the market growth from 2023 to 2031.
As per the World Investment Report 2023, published by the United Nations Conference on Trade and Development, African countries received FDIs of ∼US$ 53 billion in 2023. Thus, the rising foreign investments boost the manufacturing sector in the region, which is fueling the demand for joining servo presses in automated manufacturing in the abovementioned sectors. As per the information from the industrial center (the Government of Saudi Arabia), the medical devices sector is expected to reach US$ 9.2 billion by 2030, owing to the growing investment, expansion, and transformation of the healthcare sector in the country. Such growth in the medical device sector is expected to fuel the demand for electromechanical joining servo presses in the coming years.
Key segments that contributed to the derivation of the electromechanical joining servo press market analysis are stroke and application.
The growing operations in the electronics sector, including industrial electronics and personal mobile devices, have led to serious environmental problems by contributing 4% to global greenhouse gas emissions as per the US EPA. With global electricity demand expected to increase by 30% by 2030 as per the IEA, the electronics industry must achieve better energy efficiency for greater sustainability.
Production by global electronics and IT sectors is expected to grow by 1% year-on-year by JEITA. As per the insights from the Japan Electronics and Information Technology Industries Association (JEITA), during 2012–2022, global production growth ranged from US$ 422.1 billion to $ 511.4 billion in the field of telecommunications equipment (including smartphones and 5G and other telecommunications infrastructure) and US$ 291.6 billion to US$ 580.1 billion in semiconductors. Furthermore, the global electronics and IT sectors reached US$ 3,436.8 billion in 2022, with an increase in production by 3% in 2023, i.e., US$ 3,526.6 billion.
Economic uncertainties and inflation have led to a slowdown in consumption, production, and digitalization investments in electronics sector; however, digitalization through more sophisticated data usage and automation is expected to grow in the coming years. Growth can also be expected with electronic components, owing to the transition from conventional to electric vehicles (EVs), and the growing share of electrical components in vehicles, and the trend is increasing demand for environmentally friendly products.
Therefore, the growing electronics and electrical sector across the globe is expected to increase the production of equipment and devices, which, in turn, is anticipated to bring new trends to the electromechanical joining servo press market in the coming years.
Based on country, the Middle East & Africa electromechanical joining servo press market comprises South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held the largest share in 2023.
The electromechanical joining servo press market growth in Saudi Arabia is attributed to the rise in demand for the manufacturing of automotive components, medical equipment, and electrical and electronics equipment. Saudi Arabia is renowned for its rapid pace of industrialization. Under Saudi Vision 2030, the government of Saudi Arabia aims to focus on the development of its economic condition to make Saudi Arabia one of the world's top 15 economies by 2030. The government’s ambition to diversify its economy and establish a sustainable future contributes to the remarkable growth in Saudi Arabia's construction activities and manufacturing sector.
The pharmaceutical and medical device sectors in Saudi Arabia are undergoing a significant transformation driven by a commitment to achieving pharmaceutical and health security. By attracting leading global companies and fostering partnerships, the country actively seeks technology and knowledge exchange while creating a robust domestic industrial base. In addition, the total sales or registration of all types of vehicles in the country increased by 23.1% from 0.62 million units in 2022 to 0.76 million units in 2023, which, in turn, is expected to fuel the demand for electromechanical joining servo press from 2023 to 2031
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 10.87 Million |
| Market Size by 2031 | US$ 16.20 Million |
| Global CAGR (2023 - 2031) | 5.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Stroke
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
Some of the key players operating in the market include RARUK Automation Ltd, Kistler Group, JANOME Corporation, IAI Industrieroboter GmbH, CORETEC Inc, Dai-ichi Dentsu Ltd, Bosch Rexroth AG, SCHMIDT Technology GmbH, TOX PRESSOTECHNIK GmbH & Co.KG, and PROMESS INC among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Middle East & Africa Electromechanical Joining Servo Press Market is valued at US$ 10.87 Million in 2023, it is projected to reach US$ 16.20 Million by 2031.
As per our report Middle East & Africa Electromechanical Joining Servo Press Market, the market size is valued at US$ 10.87 Million in 2023, projecting it to reach US$ 16.20 Million by 2031. This translates to a CAGR of approximately 5.1% during the forecast period.
The Middle East & Africa Electromechanical Joining Servo Press Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Electromechanical Joining Servo Press Market report:
The Middle East & Africa Electromechanical Joining Servo Press Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Electromechanical Joining Servo Press Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Electromechanical Joining Servo Press Market value chain can benefit from the information contained in a comprehensive market report.
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