Market Size of Qatar Metal Working Industry
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2021 |
| CAGR | > 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Qatar Metal Working Market Analysis
The Qatari metalworking market is expected to record a CAGR of 4.5% over the forecast period.
- The metalworking industry intends to use more cutting-edge technology (sensors, Internet of Things, and artificial intelligence) to preserve competitive advantage while it works through some of the present industry problems. Similar to all industrial industries, metalworking will also face obstacles and overcome them while taking advantage of new chances.
- The market for metalworking suffered due to the COVID-19 pandemic. Government-imposed import/export prohibitions, social distancing measures, and many regulations meant to prevent the spread of the virus severely disrupted industrial processes and stopped the cross-border supply chains for raw materials, thus impacting the market. As a result, the market suffered a severe financial blow.
- On the plus side, governments have been compelled to permit the manufacturing of different healthcare goods, beds, and other items with a constrained labor force, which has increased the demand for metal working equipment. However, as the economy improves and governments remove limitations on manufacturing, demand for metal fabrication equipment is expected to increase in the future.
- Qatar's strong economic policies, favorable government regulations, and an increasing number of infrastructural projects have been the major drivers for the market. Companies like Frijns Steel Construction Middle East, Steel Master, and Pioneer Metal Company have benefited from the infrastructural growth.
