Machinery & Equipment - GCC | Statista Market Forecast

Value added in the Machinery & Equipment market is projected to amount to US$3.4bn in 2024.
A compound annual growth rate of 2.50% is expected (CAGR 2024–2029).
The value added per capita in the Machinery & Equipment market is projected to amount to US$56.6 in 2024.
The value added margin in the Machinery & Equipment market is projected to amount to 88% in 2024.
Output in the Machinery & Equipment market is projected to amount to US$3.9bn in 2024.
A compound annual growth rate of 2.30% is expected (CAGR 2024–2029).
The output per enterprise in the Machinery & Equipment market is projected to amount to US$8.9m in 2024.
The manufacturing intensity in the Machinery & Equipment market is projected to amount to 0.2% in 2024.
The number of enterprises in the Machinery & Equipment market is projected to amount to 434.00 in 2024.
A compound annual growth rate of 3.28% is expected (CAGR 2024–2029).
The enterprise density in the Machinery & Equipment market is projected to amount to 7 in 2024.
The number of employees in the Machinery & Equipment market is projected to amount to 61.02k in 2024.
A compound annual growth rate of 2.49% is expected (CAGR 2024–2029).
The employment rate in the Machinery & Equipment market is projected to amount to 0.10% in 2024.
The labor efficiency in the Machinery & Equipment market is projected to amount to US$63.5k in 2024.
The labor productivity in the Machinery & Equipment market is projected to amount to US$56.0k in 2024.

Definition:

The Machinery and Equipment market involves the production of various machines that act on materials, perform operations, and apply force to achieve a specific outcome. This includes the manufacture of fixed and mobile devices, hand-held equipment, and machinery used in industrial, agricultural, and construction settings.

Additional information:

The market comprises value added, output, number of enterprises, number of employees, and the respective growth rates. Output refers to the total value of all goods produced, whereas value added is the sum of the intermediate stages of production or, in other words, the wealth created by industry activity. The market only displays B2B production.

Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
Manufacture of fluid power equipment, pumps, compressors, taps and valves
Manufacture of bearings, gears, gearing and driving elements, ovens, furnaces and furnace burners
Manufacture of lifting and handling equipment, office machinery and equipment, power-driven hand tools
Manufacture of machinery for agricultural, forestry, metallurgy, mining, quarrying and construction
Manufacture of machinery for food, beverage and tobacco processing, textile, apparel and leather production
Other categories listed within ISIC Division 28 as "included"

Manufacture of metal products for general use
Manufacture of control devices, computer equipment, measurement and testing equipment
Manufacture of electricity distribution and control apparatus
Manufacture of general-purpose and motor vehicles
Other categories listed within ISIC Division 28 as "excluded"

The manufacturing market has faced several challenges in recent years due to geopolitical uncertainty, supply chain disruptions, changing consumer preferences, and increasing regulatory scrutiny. However, several positive factors, such as rising global demand, ongoing technological advancements, and increasing investment in automation and digitalization, continue to influence the market, and the outlook for manufacturing remains positive.

While the Covid-19 pandemic has caused significant hardships for manufacturers, those that invested in digitalization and automation of their processes will be best positioned for long-term success. Manufacturers who can effectively balance cost pressures and maintain a strong focus on quality are likely to survive the current crisis and come out more resilient in the end.

Among the factors that could affect the manufacturing market in 2023 is the adoption of advanced technology, such as artificial intelligence, robotics, and the Internet of Things (IoT), which have the potential to improve overall efficiency and productivity while reducing costs.

Furthermore, our analysts believe that sustainability and environmental awareness will become increasingly important trends, as more investors and consumers prefer companies that prioritize these values and develop eco-friendly products.

Finally, geopolitical factors such as trade tensions and changes in government policies could also impact the manufacturing market in 2023, with the Russia-Ukraine war having the biggest impact.

In summary, the current environment presents both challenges and opportunities for the manufacturing market in 2023. However, with the right managerial strategies and high flexibility, companies can succeed and strengthen their long-term market position.

Data coverage:

The data encompasses B2B. Figures are based on the value added in the manufacturing market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting the manufacturing market due to the non-linear growth of this market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Industrial market, in a PDF format.

Machine tools are used for manipulating metal and similar rigid materials by cutting, shearing, grinding, or lathing. Due to their fundamental uses, machine tools play a vital part in many manufacturing industries. In 2021, machine tools worth nearly 84 billion U.S. dollars were produced worldwide. Germany was responsible for manufacturing about 13 percent of the global machine tool production that year.