USD 0.89 Trillion
GCC Custom Manufacturing Market Size, Share, Growth Analysis, By Product(Precision Parts, Precision Components, and Others.), By Application(aerospace, semiconductor, biomedical, chemical industry), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20I2261 |
Region:
Regional |
Published Date: April, 2024
Pages:
202
|Tables:
65
|Figures:
75
GCC Custom Manufacturing Market Insights
GCC Custom Manufacturing Market size was valued at USD 0.89 Trillion in 2022 and is poised to grow from USD 0.93 trillion in 2023 to USD 1.33 Trillion by 2031, at a CAGR of 4.60% during the forecast period (2024-2031).
The process of designing, constructing, and producing items based on a customer's exact requirements includes build-to-order (BTO) parts, one-offs, short production runs, and mass customization.
Producing thousands or millions of identical components or products at a cheap cost per unit is the aim of modern manufacturing theories, methodologies, and best practices.
Enterprises may make goods at consumer-acceptable prices while still offering manufacturers with small profit margins per unit that pile up over the course of a full manufacturing run thanks to design and manufacturing methods that are optimised for high volume production.
GCC Custom Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Precision Components
Fastest Growth
Precision Components
Growth Rate
4.60% CAGR
GCC Custom Manufacturing Market, 2022-2030(Bn)
Country Share for GCC- 2022 (%)
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GCC Custom Manufacturing Market Segmental Analysis
GCC Custom Manufacturing Market is segmented into product and application. By product it is segmented into Precision Parts, Precision Components, and Others. On the basis of application GCC Custom Manufacturing Market is segmented into aerospace, semiconductor, biomedical, chemical industry, and others. On the basis of region, GCC Custom Manufacturing Market is segmented Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain
GCC Custom Manufacturing Market Analysis by Product
Precision Parts, Precision Components, and Others are the market segments that make up the custom manufacturing market. Many of the benefits of employing precision components to create industrial parts are well established, and Precision Components dominates the industry. Precision parts are more effective and efficient in terms of cost, as well as being safer and less likely to make mistakes. Precision component experts are able to produce parts of the highest quality and are aware of the most effective processes for manufacturing industrial packaging components.
GCC Custom Manufacturing Market Analysis by Application
The aerospace, semiconductor, biomedical, chemical industry, and others segments are included in the custom manufacturing market. Due to the fact that bespoke component manufacturing services are offered to the aerospace industry, the Aerospace segment dominates the market. Customers of custom manufacturing services need craftsmanship.
GCC Custom Manufacturing Market size by product, 2022(%)
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GCC Custom Manufacturing Market Regional Insights
On the basis of region, it is segmented Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain. For the purpose of tariff classification, Saudi Arabia employs the Harmonized Commodity Description and Coding System. Saudi Arabia has ratified a number of trade agreements, particularly with the GCC, which completely exclude the member nations from paying customs taxes. As a GCC member, it must impose the common external tariff of the GCC, which is at least 5% on the majority of imports from non-GCC nations. The department in charge of all customs-related tasks, managing the entry and outflow of commodities into and out of the nation, regulating customs procedures, and carrying out all orders issued by the government's ministries is known as the Kuwait General Administration of Customs. Companies must have the appropriate trade licence from the Department of Economic Development (DED) of the emirate in order to import goods into the UAE. To conduct business in the UAE's "mainland," foreign enterprises can either open an office there or hire a UAE native as a sponsor, agent, or distributor (that is, not in the free zones). The GCC has approved exemptions for about 400 items, including imports of diplomatic and consular goods, military and security products, civilian aviation, personal effects and used household items, passenger-accompanied luggage and gifts, goods intended for charitable use, ships and other vessels for the transportation of passengers. In addition to cement, Qatar imposes a 20% duty on iron bars and rods, non-alloy hot-rolled steel, and 12-millimeter steel bars. Imports of urea are subject to a 30% customs duty, while imports of recordings and musical instruments are subject to a 15% duty. With the exception of a few agricultural products, bilateral commerce in industrial and consumer goods is allowed under the U.S.-Bahrain FTA. According to Bahrain's tariff schedule, which is mentioned below, goods produced outside the FTA region may be imported. The GCC Unified Customs Union agreement includes Bahrain as a party. The agreement eliminates tariffs for GCC member states on 426 products (mostly food and medical supplies) and imposes import charges of 5% on the majority of goods coming from outside the GCC, with the exception of alcohol and tobacco, which are subject to 125 and 100% duties, respectively.
GCC Custom Manufacturing Market, 2022-2030
- Largest
- Fastest
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GCC Custom Manufacturing Market Dynamics
GCC Custom Manufacturing Market Drivers
Economic Diversity to Bolster Demand for Custom Manufacturing
- In the GCC nations, the manufacturing sector is being driven by economic diversification. Major investments have been made in the manufacturing sector since it has enormous potential, as countries search for alternatives to the oil and gas sector in terms of revenue creation.
- The inexpensive startup and operating costs of industrial facilities in the area draw investors. Growth in this industry is also fueled by duty-free access to manufactured goods in the GCC and advantageous tax policies. The US-GCC Free Trade Agreement is drawing in a lot of outside capital.
GCC Custom Manufacturing Market Restraints
Unstable Economy to Hinder Market Growth
- The government faces a dilemma as a result of the declining and unstable oil prices because they have a direct effect on the budgets designated for other sectors. Despite diversifying their economies, these nations nevertheless rely heavily on oil and gas at the moment.
- The GCC countries must rely on imported labour, a lack of competent workers is another issue in this industry. When compared to other modern economies, the countries' lack of industrial experience presents a significant problem in the form of a dearth of innovation.
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GCC Custom Manufacturing Market Competitive Landscape
GCC Custom Manufacturing Market Top Player's Company Profiles
- Emirates Steel Industries PJSC
- Dubai Cable Company (Private) Limited (Ducab)
- National Petrochemical Industrial Company (NATPET)
- Jeddah Cable Company (JCC)
- Almarai Company
- SABIC (Saudi Basic Industries Corporation)
- Arabian Pipes Company (APC)
- Gulf Extrusions Co. LLC
- National Industrialization Company (Tasnee)
- Alujain Corporation (Alujain)
- Saudi Arabian Amiantit Company (Amiantit)
- Al Khorayef Group
- Saline Water Conversion Corporation (SWCC)
- Advanced Petrochemical Company
- Al-Muhaidib Group
- Yanbu National Petrochemical Company (Yansab)
- Alfanar Group
- Saudi Aramco
- Arabian Cement Company (ACC)
- Saudi Electricity Company (SEC)
GCC Custom Manufacturing Market Recent Developments
- On 9th May, 2022, Saint-Gobain launched its new Digital Platform saint-gobain.com.
- On 16th May, 2022 GE launched a new Renewable Energy Digital suite.
GCC Custom Manufacturing Key Market Trends
- A custom product often costs a bit more than a mass-produced one in most organisations, which is the main factor driving the expansion of the custom manufacturing market. Custom manufacture can, however, result in long-term financial savings. Despite the fact that custom manufacturing costs more per product than mass production, you can purchase in lesser quantities, which reduces your overall expenditures.
- Additionally, hiring bespoke manufacturers to build and make a product is substantially less expensive than buying the necessary equipment and hiring the required staff to create the product on your own.
GCC Custom Manufacturing Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Custom or limited-run products, such as bespoke jewellery, specialty electronics, and body-conforming medical or dental appliances, present unique challenges that force manufacturers to modify their production processes. Additive manufacturing (AM), often known as 3D printing, grew more effective as a real manufacturing technique over the past ten years as technology and materials advanced. Custom manufacturing is highly suited to 3D printing due to its high degree of flexibility, toolless production techniques, and ability to quickly scale up to meet demand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 0.89 Trillion |
| Market size value in 2031 | USD 1.33 Trillion |
| Growth Rate | 4.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GCC Custom Manufacturing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GCC Custom Manufacturing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GCC Custom Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Custom Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GCC Custom Manufacturing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Custom Manufacturing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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