International majors eye surging markets in Middle East and Africa


Posted November 3, 2015 by bizcom20

The surging construction industry in the Middle East and Africa, spurred by ongoing economic and demographic

 
The surging construction industry in the Middle East and Africa, spurred by ongoing economic and demographic growth has spurred the interest of International hardware and tool manufacturers in the markets of the region.

Having completed US$67.6 billion worth of construction projects in 2014*, the GCC in particular is in the throes of building and infrastruc-ture bom, presenting impressive opportunities for global manufactur-ers to step in and increase their market share.

Leading players at Hardware+Tools Middle East 2015 – the region’s only dedicated trade show for hardware, tools, materials and machin-ery – have earmarked the MEA as a primary export market, indicating that demand for better quality products is also on the increase.

Indian hand tools manufacturer Black Jack is among those returning exhibitors optimistic about the growth prospects in the Middle East, and plans to quadruple the value of its current business in the region to reach US$500,000 in 2015.

“We had previously done a small amount of business in the Middle East 15 years ago, but pulled out due to price sensitivity and the pref-erence for cheaper products,” said Rajat Rose, Head of Marketing at Black Jack Tools. “Now everything has changed and there is much more demand for higher quality products at a decent price.
“Hardware+Tools Middle East is an effective gateway for us to reach the Middle East and Africa and through our participation we hope to make further inroads into these huge markets.”

Now in its 16th edition, Hardware+Tools Middle East, will take place from 2-4 June 2014 at the Dubai International Convention and Exhibi-tion Centre.

The three-day event, organised by Messe Frankfurt Middle East, will feature more than 230 exhibitors showcasing over 350 brands. Aus-tralian company Companion Brands is among dozens of manufactur-ers making their Hardware+Tools Middle East debut with its range of Soldering & Brazing Equipment, Tyre Inflation, Air Equipment, and Hose Reels.

“We are looking to triple our current market share to reach US$250,000 in the next few years,” said Peter Littlewood, of Com-panion Brands. “Our products are relatively new to the market and we are seeking to widen our footprint in the region with our high quality and competitively-priced offerings.”

Among the other top international exhibitors returning to Hard-ware+Tools Middle East include Goodyear from the USA, Deerfos from Korea, and Miles from India; while other debut exhibitors include Italian company Vipa, Milwaukee from the UK, Rothenberger from Germany, and Japanese manufacturers Nitto Kohki and BIC Tool.

Ahmed Pauwels, CEO of Messe Frankfurt Middle East, said: “De-mand for tools, material and machinery made to the best global standards continues to rise in the Middle East, as investments pour into new infrastructural and civic projects.

“The region's continued positive growth track and growing preference for goods of the highest quality will continue to drive interest in the offerings of international majors at Hardware+Tools Middle East 2015.”

New at this year's event will be the Expert Zone, a dedicated platform for the world’s premier hardware and tool manufacturers do display their latest innovations that are transforming the industry.
In 2014, Hardware + Tools Middle East achieved an impressive 13 per cent growth with 224 exhibitors showcasing a wide spectrum of hand and power tools, protective gear, all types of machinery and in-novative material. The show floor was buzzing with interested buyers eyeing new deals and sourcing new products.

*Ventures Middle East
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Tanya Dcunha
Website BIZCOM
Phone +97143320888
Business Address Dubai, U.A.E.
Country United Arab Emirates
Categories Business
Tags bizcom , uae
Last Updated November 3, 2015