In recent years, although the global construction and real estate development rate was once slowed down by the impact of the global financial crisis, but with the recovery of various countries’ economies and the gradual cracking of real estate financing problems, the Middle East construction dominated by the UAE, Saudi Arabia and Kuwait The market remains strong and gradually picks up, driving demand for machinery, electrical appliances and plumbing products (MEPs) in the Middle East to continue to increase. The hardware tool market continues to grow.
According to recent predictions from authoritative industry agencies, by 2013, the global home improvement and DIY market will reach US$637.5 billion, up 12% from 2008; demand for electric tools will reach Dh102 billion (US$28 billion). The average increase rate is close to 4%; other derivative products also have different degrees of growth, such as various types of helmets/helmets (building site necessities) mainly driven by the construction market. The global market size will reach 23 billion dirhams by 2015 (6.3 billion US dollars). ).
The United Arab Emirates is the center of construction industry in the Middle East. At present, the total amount of its 1372 construction projects is about 900 billion U.S. dollars. In Dubai and Abu Dhabi, the construction sites are being seen everywhere. High-end luxury hotels and luxury office buildings abound. According to statistics, before 2009 In the third quarter, despite financial difficulties, nearly 2,000 buildings in Dubai have been completed, building confidence in the market recovery. The population of Saudi Arabia will double in the next 20 years, and the demand for housing and commercial buildings will remain strong, which will certainly boost local construction machinery. The market demand for hardware products and tools will last forever.
According to statistics from relevant agencies, the amount of construction and infrastructure projects contracted in the Gulf region in the Middle East will reach US$114 billion in the coming year. The amount of related projects currently planned and being planned will reach US$257.3 billion, and the amount of related projects under construction will be as high as US$1.3684 billion (of which the UAE and Saudi Arabia accounted for 52% and 21%, respectively), both increased significantly compared to the past. Such a market condition has contributed to the rapid growth in the demand for hardware tools in the Middle East, especially the United Arab Emirates.
Another powerful factor is that the production of local hardware tools and related products in the Middle East is very low, and they rely heavily on imported products and provide good business opportunities for related global product suppliers. Local distributors are looking for cheaper and more cost-effective products and they are also very concerned. High-quality products, including high-end products that embody the environmental trend and use of green building technology, have shown strong interest in imported products.
As can be seen from the market prospects, the Middle East Hardware and Tools Exhibition is an excellent place for international exhibitors to open up the hardware tools market in the Middle East, and it also becomes an important platform for professionals to find and obtain the best related products and services. Chinese exhibitors should take a long-term view. Make full use of this platform, centered around Dubai, to radiate the entire Middle East hardware tool market.