Middle East industrial automation market is projected to grow at a CAGR of 5.2 percent during 2019-25, according to a report by ResearchAndMarkets.com.
Saudi Arabia, Turkey, and UAE are the key revenue generating countries in the overall Middle East industrial automation market, the report said, adding that the power utility & water treatment segment is expected to acquire key revenue share by 2025 in the overall Middle East industrial automation market size.
This is due to favorable government initiatives to strengthen the renewable energy sectors across many countries, the report maintained.
Efforts being made to diversify the economies in the region would include the development of new power and water treatment plants in the near future.
As a result, the report added, 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.
The report said 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, the growing need for automation for better production efficiency in the industrial sector would open up new avenues for industrial automation solutions.
The overall booming industrial sector t in the region due to initiatives such as Dubai Industrial Strategy 2030 and National Industrial Development and Logistics Program, together with several upcoming non-oil projects would continue to play an important role in the growth of the industrial automation market over the coming years, the report added.
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