Future Market Insights (FMI) delivers key insights on the Middle East Conveyor Belts in its latest report titled, ‘Conveyor Belts Market: Middle East Industry Analysis and Opportunity Assessment, 2016-2026’. The Middle East conveyor belts market is projected to register a healthy CAGR of 4.3% in terms of value during the forecast period (2016–2026). This is attributed to various factors, regarding which FMI offers detailed insights in its report.
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On the basis of product type, the Middle East conveyor belts market has been segmented into metal-reinforced rubber conveyor belt, fabric-reinforced rubber conveyor belts and plastic conveyor belts.
Metal-reinforced rubber conveyor belt segment has been estimated to account for a 27.3% value share of the market in 2015 and is expected to register a CAGR of 4.6% over the forecast period.
By cover type, the Middle East conveyor belts market has been segmented into the conductive conveyor belt, abrasion-resistant conveyor belt, heat- and flame-resistant and oil-resistant conveyor belt. The conductive conveyor belt segment has been estimated to account for a 13.5% value share in 2015 and is expected to register a CAGR of 5.7% over the forecast period. However, in terms of value, the abrasion-resistant conveyor belt segment is projected to be dominant by 2026, accounting for a market share of 37.8%, as compared to the heat- and flame-resistant segment, with 28.0% share.
On the basis of application, the Middle East conveyor belts market is segmented into mining, food production industry, commercial, construction industry, electricity generating stations, automotive industry, chemical & fertilisers and packaging industry — among these, the mining segment has been estimated to account for a value share of 22.9% in 2015, which is projected to decrease to 22.5% by 2026. The commercial segment is projected to exhibit the highest CAGR of 5.5% over the forecast period.
By weight, the Middle East conveyors belts market is segmented into a lightweight, medium-weight and heavyweight — among these, the medium-weight segment has been estimated to account for a value share of 49% in 2015, which is projected to increase to 49.5% by 2026. The lightweight segment is projected to exhibit the highest CAGR of 5.0% over the forecast period.
Factors Driving the Middle East Conveyor Belt Market
The growth of the Middle East conveyors belts market is mainly driven by the increasing adoption of automated production lines across various industries and the rising number of construction sites in the Middle East region. Other trends driving growth include the improvement of belt materials in conveyor systems and government initiatives to encourage local food production in the Middle East. High dependence on raw material imports and low-profit margins for manufacturers are certain factors restraining the growth of the conveyor belt market in the Middle East.
Middle East Conveyor Belt Market: Country-wise Analysis
Turkey has been estimated to dominate the Middle East conveyors belts market, with over 35.0% market share in the Middle East region in 2015 and is anticipated to remain dominant by 2026, followed by KSA (The Kingdom of Saudi Arabia) and UAE (United Arab Emirates). Among all the countries in the Middle East, KSA market is anticipated to register the highest CAGR over 2016–2026, followed by UAE. This is mainly attributed to increasing demand from the construction and mining industry in KSA and the increase in a number of mining projects such as limestone production in UAE.
Leading Players in the Middle East Conveyor Belt Market
Leading players in the Middle East conveyor belt market include Al Kuwaiti Industrial Solutions, Arabian Universal, Bridgestone Corporation, ContiTech AG (Continental AG), Derby Conveyor Belts Industry and Trade Inc., FaBa Commercial Services, Fenner Dunlop Conveyor Belting, Kale Conveyor, Phoenix Conveyor Belts Systems GmbH, Schieffer Magam Industries Ltd., Semperit AG Holding and Ziligen A.S.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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