Government initiatives to reduce the dependency of many countries 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 Middle East industrial automation market over the coming years. Further, growing need for automation for better production efficiency in the industrial sector would open up new avenues for the industrial automation solutions.
According to 6Wresearch, Middle East industrial automation market size is projected to grow at a CAGR of 5.2% during 2019-25. Though, the oil and gas sector would continue to play an important role in the overall growth of many Middle Eastern countries, efforts being made to diversify the economy by development of projects, particularly in the power utility and water treatment domains would bode well for the growth of industrial automation market in the region during the forecast period.
According to Kanika Arora, Research Analyst, Research and Consulting, 6Wresearch, "The oil and gas vertical holds the maximum revenue share in the overall Middle Eastern industrial automation market. However, the power utility and water treatment vertical would gain significant share during the forecast period due to growing number of renewable power projects in the region. New solar & wind power projects along with new water and wastewater treatment plants are also being developed that would drive the demand for automation solutions in the power utility and water treatment vertical in the Middle East region."
"The Middle East region is a major producer of chemicals in the world. With an aim to diversify from the oil sector, the several countries would continue to invest in their chemical sector. Hence, with several chemical and petrochemical plants being developed, the demand for automation solutions in the industrial vertical in the region would exhibit healthy growth during the forecast period," Kanika further said.
According to Shivani Gupta, Research Associate, Research and Consulting, 6Wresearch, "Saudi Arabia and UAE are the key revenue generating countries in the overall Middle East industrial automation market. Investment being made in the industrial sector in these countries under initiatives such as Dubai Industrial Strategy 2030, Saudi National Industrial Development and Logistics Program and the National Transformation Plan (NTP) would play a pivotal role in the overall development of the pharmaceutical, food processing and metal industries."
Some of the major companies in the Middle East industrial automation market include Siemens, Honeywell, ABB, Yokogawa and Schneider Electric.
"Middle East Industrial Automation Market (2019-2025)" provides an in-depth analysis with 75 figures and 13 tables covered in 158 pages. The report estimates and forecast the overall Middle East industrial automation market by product, technology, vertical and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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