The Middle East Conveyor Belts Market Is Estimated To Witness High Growth Owing To Growing Industrialization
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| East Conveyor Belts Market |
The Middle East Conveyor Belts Market is estimated to be valued at US$ 214680.93 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The conveyor belt market includes belts that are used to transport material
over short or long distances between operations or storage areas in various
industries like mining, aviation and transportation, manufacturing, ports, and
others. Conveyor belts help improve productivity and reduce costs and labor in
addition to the ability of conveyors to easily redirect materials to various
destinations. These factors are expected to fuel the demand for conveyor belts
in the Middle East region over the forecast period.
Market Overview:
Conveyor belts are heavy-duty carriers designed specifically for transportation
purpose in industrial applications. They comprise a flexible reinforced fabric
with rubber, plastic, or steel cords embedded in the material. They are widely
used in material handling applications for continuous transport of bulk
materials or unit loads. They facilitate smooth movement of materials over
short or long distances in minimum time with high efficiency. Various
industries such as food & beverage, airports, mining, ports utilize
conveyor belts extensively to ensure improved productivity.
Market key trends:
One of the key trends in the Middle East conveyor belts market is growing focus
on automation. To cope with the shortage of labor and cut costs, industries in
the Middle East are increasingly adopting automated technologies including
conveyor belts for material handling applications. Advanced features such as programmable
logic controllers, proximity sensors, rotary indexing tables integrated with
conveyors are enhancing productivity and efficiency. Furthermore, rising demand
from food and beverage industry is also fueling the market growth. Conveyor
belts are critical for transportation of food items and ensuring safety and
hygiene standards in food processing plants. Increasing foreign investments in
ports, mining, and airports are also driving the demand for industrial conveyor
belts in the region.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Middle East conveyor
belts market is moderate. Established players dominate the market making it
difficult for new players to gain foothold and scale. However, low entry
barriers encourage small players.
Bargaining power of buyers: The bargaining power of buyers is high given the
presence of numerous players providing substitutes. Buyers can negotiate on
price and demand better quality, services and delivery timelines.
Bargaining power of suppliers: Suppliers of raw materials like rubber and
polymers have moderate bargaining power due to availability of substitutes and
less differentiation in materials. Established suppliers differentiate services
to gain customer loyalty.
Threat of new substitutes: Threat of substitutes is moderate as automated
transport alternatives like stackers and lift trucks provide competition.
However, conveyor belts have advantages of continuous flow of material at low
operational cost.
Competitive rivalry: High due to presence of numerous regional and global
brands competing on capabilities, price and services.
SWOT Analysis
Strengths: Established infrastructure and distribution networks. Proximity to
key markets in Middle East and North Africa region.
Weaknesses: Vulnerable to volatility in raw material prices. Lower brand
recognition compared to global competitors.
Opportunities: Growing e-commerce and logistics sectors driving demand.
Projects around Dubai Expo 2020 and infrastructure expansion boosting sales.
Threats: Increased automation may impact demand. Political and economic
instability in certain countries affects growth.
Key Takeaways
Global
Middle East Conveyor Belts Market Size is expected to witness high
growth, exhibiting CAGR of 4.2% over
the forecast period, due to increasing automation and logistics infrastructure
investments in major economies. The growing e-commerce sector is further
propelling the demand for conveyor belts for order processing in the region.
Regional analysis - The conveyor belts market in Saudi Arabia is dominant and
will continue to grow at fastest pace owing to mega infrastructure projects
around tourism, transportation and smart city developments. UAE and Turkey
follow with major port expansions and industrial activities driving the sales.
Key players operating in the Middle East conveyor belts market are Al Kuwaiti
Industrial Solutions, Ziligen A.S., Arabian Universal, Semperit AG Holding,
Bridgestone Corporation, Schieffer Magam Industries Ltd., ContiTech AG (Continental
AG), Phoenix Conveyor Belt Systems Gmbh, Derby Conveyor Belt Industry and Trade
Inc., Kale Conveyor, FaBa Commercial Services, and Fenner Dunlop Conveyor
Belting. The companies are focused on enhancing product quality, reliability
and energy efficiency to strengthen market share. Customized solutions as per
application requirements is a key strategy.
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