Market space for fastener industry, Middle East and Africa market development space
With the continuous promotion of the “Belt and Road” initiative, economic and trade cooperation between China and the Middle East and African countries has become increasingly close, leading to rapid growth in bilateral trade. On the one hand, China is an important importer of energy, minerals and other resources in the Middle East and African countries, and resource cooperation with the Middle East and African countries is one of the important measures to ensure China's energy security; on the other hand, cost-effective Chinese machinery and equipment, electronics, textiles and toys, and other industrial products can be complementary to the relatively homogeneous economic structure of the Middle East and African countries, and well meet the consumption of these regions. On the other hand, cost-effective Chinese industrial products such as machinery and equipment, electronic products, textiles and toys can complement the relatively homogeneous economic structure of Middle Eastern and African countries, and satisfy the consumption demand of these regions.
In 2023, many countries in the Middle East and Africa suffered from high inflation, capital outflow and local currency depreciation under the influence of unfavorable factors such as interest rate hike by the Federal Reserve, Israeli-Palestinian conflict and Ukraine crisis. In order to cope with the challenges, many countries have taken such initiatives as accelerating the structural transformation of their economies in order to enhance the endogenous dynamics and resilience of economic development. At the same time, some Middle Eastern and African countries have accelerated the pace of “Looking East”, expanding and deepening economic and trade cooperation with China, in the hope of gaining more development opportunities and momentum.
The purpose of this research project is to explore the growth potential and development opportunities of fasteners in the Middle East and Africa market, analyze the competitive situation, sales patterns, customer preferences, and the overall business environment of the Middle East and Africa market, and provide objective references for domestic enterprises to conduct business overseas.
According to the latest research of QYResearch, the global fastener market sales revenue reached 0 billion yuan in 2023, and is expected to reach 0 billion yuan in 2030, with a compound annual growth rate (CAGR) of 0% in the next few years.The Middle East and Africa market is expected to grow at a compound annual growth rate (CAGR) of xx% in the period of 2024-2030, which is higher than that of the global market, and the market size of the Middle East and Africa market will reach xx% in 2030. Africa market market size will reach xx billion dollars.
In the Chinese market, the major manufacturers of fasteners are Shanghai Jiyou, Gem-Year, Boltun, Changshu City Standard Part, Xingyi Fasteners, Jiaxing Brothers Standard Parts, Wei Feng, Zhejiang Zhapu, Shanghai Tramplexin Metal Products, and Dongwei Enterprises.
This article focuses on the major foreign and GCC countries' local enterprises in the Middle East and Africa market, and analyzes the overall competitive landscape, current status and future trends in the Middle East and Africa market.
The core content of this article:
Market space: global fastener industry market space, Middle East and Africa market development space.
Competitive landscape: global fastener share, Middle East and Africa market share of enterprises.
Sales Mode: Middle East and Africa market sales mode, local agents.
Customer situation: analysis of local customers and preference in the Middle East and Africa.
Business Environment: Analysis of business environment in Middle East and Africa
Middle East and Africa, such as GCC countries, Turkey and other major countries, such as market size.
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