by The global 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.
Market Overview:
Conveyor belts are an integral part of material handling systems used across various industries such as mining, agriculture, food processing, and construction. They are durable equipment designed to transport materials efficiently between points in a manufacturing or distribution process. Conveyor belts consist of two or more pulleys, with an endless loop of fabric that rotates about them. Different material types are used for belts including rubber, plastic, and fabric meshes to suit various material loads and operating environments. The belts greatly simplify product movement within factories and warehouses, reducing labor costs and improving productivity.
Market key trends:
Rising construction activities across the Middle East region are expected to be a major driver for the conveyor belts market. Growing urbanization and infrastructure development projects such as commercial buildings, airports, seaports, and metro rail networks are fueling demand. The residential construction sector is also witnessing strong growth due to increasing population and housing needs. This is propelling demand for conveyor systems at construction sites to transport materials over short-to-medium distances efficiently. Additionally, flourishing industries such as mining, food & beverage, and airports are utilizing conveyor belts for intra-facility transportation of items. Key manufacturers are focusing on developing dust-proof and corrosion resistant belts made of technological fabrics to withstand tough work environments.
Porter’s Analysis
Threat of new entrants: The conveyor belt manufacturing in middle east region requires high initial investment and established distribution channels which makes difficult for new players to enter.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of multiple established players. However, market is price sensitive which influences buyers decision.
Bargaining power of suppliers: Regional players dominating the market have bargaining power over global suppliers due to localized production and established supplies chain.
Threat of new substitutes: Alternatives available are manually operated material movement. However, conveyor belts offers automation, efficiency and large scale production benefits.
Competitive rivalry: Market comprises few regional big players and intensity of competition is high. Players focus on product differentiation, pricing and brand loyalty to sustain in the market.
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 industrialization and automation in material handling processes across manufacturing industries.
Regional analysis: The UAE market accounted for largest share in 2021 owing to well established manufacturing sector and adoption of advanced technologies. Saudi Arabia is anticipated to be fastest growing market between 2023-2030 supported by infrastructural developments and growth in logistic industry.
Key players analysis: 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. Players focus on product innovation and partnerships with OEMs for business expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
