Key Features of the study:
This report provides an in-depth analysis of the Middle East conveyor belts market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers
Key Market Trends
1.Major producer are developing conveyor belts with better visco-elastic properties, which can reduce energy consumption by up to 20%. For instance, in 2014, Bridgestone Corporation developed energy-saving belts using its fuel-efficient Ecopia tire technology. This new conveyor belts material maximizes belt performance as the belt runs along the indentation resistant rollers.
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2.In the Middle East, low noise and lightweight conveyor systems are gaining traction over the heavyweight conveyor belts. which significantly increases reliability of the device and significantly reduces maintenance costs of the system.
Key Market Dynamics:
The demand of these conveyor belts is also increasing due to growth of infrastructural activities and macroeconomics factors such as GDP growth.
The growing demand for eco-friendly conveyor belts with properties such as self-cleaning is expected to improve the operation cost in industries
Key Market Opportunities
1.Demand for halal-certified conveyor belts leads to lucrative growth opportunities. For instance, in July 2014, Cambridge Engineered Solutions., a leading global conveyor belt manufacturer, announced halal certification of its conveyor belts by U.S.-based Islamic Services of America (ISA).
2.Growing expenditure construction industry will create major business opportunities . According to Coherent Market Insights’ analysis, construction spending in the Middle East is expected to increase by 3.4% in 2016 as compared to 2015, which in turn is expected to create significant growth opportunities for OEMs of conveyor belts in the Middle East.
Al Kuwaiti Industrial Solutions
Semperit AG Holding
Schieffer Magam Industries Ltd.
ContiTech AG (Continental AG)
Phoenix Conveyor Belt Systems Gmbh
Derby Conveyor Belt Industry and Trade Inc.
FaBa Commercial Services
Fenner Dunlop Conveyor Belting
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By Product Type: Metal-reinforced Rubber Conveyor Belts, Fabric-reinforced Rubber Conveyor Belts, Plastic Conveyor Belts.
By Cover Type: Conductive Conveyor Belt, Abrasion-resistant Conveyor, Heat- & Flame- resistant Conveyor, Oil-resistant Conveyor Belt.
By Weight: Lightweight, Medium-weight, Heavyweight.
By Application: Mining, Food Production Industry, Commercial, Construction Industry, Electricity Generating Stations, Automotive Industry, Chemical & Fertilizers, Packaging Industry Wireless Systems.