MAN Industries targets major expansion in Saudi Arabia
The company expects Saudi market to contribute 40% of revenue within three years.
1Saudi-focused growth strategy
MAN Industries has launched a significant growth initiative focused on the Saudi Arabian market. The company expects the region to account for 35-40% of its total revenue within the next three years. This strategy stems from increasing energy and infrastructure investments in the Middle East. Saudi Arabia's Vision 2030 megaprojects are driving demand for pipelines and industrial materials.
2FY2027 revenue target
The company has set a revenue target of ₹5,000 crore (approximately $600 million) for fiscal year 2027. A significant portion of this target will come from Saudi operations. MAN Industries plans to increase exports of seamless pipes produced at its Jammu facility in India to the region. It also aims to gain competitive advantage by expanding coating capacity at its Dammam plant.
3Dammam facility investments
MAN Industries is expanding capacity at its pipe coating facility in Dammam, Saudi Arabia. The plant will serve oil and gas pipeline projects in the region. The company continues investments while meeting requirements of Saudi Arabia's IKTVA (In-Kingdom Total Value Add) program. The Dammam facility provides direct collaboration opportunities with energy giants like ARAMCO.
4Jammu production hub
The seamless pipe production facility in Jammu, India has become the center of MAN Industries' exports to Saudi Arabia. The plant has annual production capacity of 200,000 tons. It manufactures products critical for high-pressure pipeline applications. Jammu production has been optimized to meet Saudi market quality standards.
5Regional market dynamics
Saudi Arabia has become the largest pipe market in the Middle East through energy sector investments. The country plans over $100 billion in energy infrastructure investments under Vision 2030. MAN Industries is developing local partnerships to participate in these projects. Compared to regional competitors, it offers cost advantages through India-based production.
6Global pipe market position
MAN Industries exports to more than 50 countries worldwide and has become a significant player in the global pipe market. The company's annual revenue exceeds ₹3,500 crore ($420 million). Its Saudi strategy aims to increase Middle East market share from 15% to 25%. This move will also strengthen its presence in Asia and Africa.
7Industrial production trends
The global pipe industry is growing at 4-5% annually due to energy transition and infrastructure investments. Particularly in the Middle East and Asia, development of non-oil sectors is increasing pipe demand. MAN Industries is investing in pipe technologies suitable for green hydrogen transport to prepare for the future. The company plans to pioneer this field in Saudi Arabia.
8Strategic outlook
MAN Industries' Saudi-focused growth plans will enhance its global competitiveness. The region's energy infrastructure investments between 2026-2030 could grow the pipe market to $50 billion. The company's investments in Dammam and Jammu will help capture larger market share. Analysts predict MAN Industries could enter the global top 10 pipe manufacturers within five years.
Original article: Economic Times — MAN Industries, Suudi Arabistan'da büyümeyi hedefliyor