Conveyor belts are a critical component of automated material handling systems used across various industries such as food processing, mining, agriculture, and airport baggage handling. Conveyor belts help transport materials over short or long distances in a safe, reliable, and efficient manner without the need for workers at every transfer point. This reduces labor costs and improves throughput and productivity. The rising adoption of automation across various industries to reduce dependency on manual labor and gain operational efficiencies is driving demand for conveyor belts in the Middle East region.
The global Middle East Conveyor Belts Market is estimated to be valued at US$ 214680.93 million 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 Opportunity:
The growing mining industry in countries such as Saudi Arabia, Egypt, and Israel provides significant opportunities for conveyor belt manufacturers in the region. The mining industry relies heavily on conveyor systems to transport raw materials over long distances from mines to processing plants. The demand for higher throughput and material handling productivity is driving mining companies to adopt advanced conveyor belt technologies. This growing need for automation in the Middle East mining industry will support the demand for conveyor belts during the forecast period.
Porter's Analysis
Threat of new entrants: Low to medium due to established market share of key players and high initial capital requirement to start a conveyor belts manufacturing business.
Bargaining power of buyers: Medium to high due to presence of various domestic and international brands offering similar products .
Bargaining power of suppliers: Low to medium as key raw materials like rubber, plastic and fabric are globally available from various domestic and international suppliers.
Threat of new substitutes: Low as conveyor belts have very few substitutes and have established themselves as effective material handling solutions across industries.
Competitive rivalry: High among the key regional and international players to increase their market share in the growing Middle East market.
SWOT Analysis
Strengths: Established supply chain and distribution network of key global players in the Middle East region. Growing demand from industries like mining, automotive, food & beverages etc.
Weaknesses: Supply chain disruptions due to geopolitical issues in the Middle East region. High dependency on imports for key raw materials.
Opportunities: Growing e-commerce sector resulting in increased automation across warehouses and distribution centers. Investments in infrastructure development projects across GCC countries.
Threats: Fluctuations in raw material prices due to supply constraints. Changing trade policies and regulations across Middle Eastern countries.
Key Takeaways
The Global Middle East Conveyor Belts Market Growth is expected to witness high growth over the forecast period of 2023-2030 supported by ongoing and planned investments in infrastructure projects across GCC countries. The mining industry in countries like Saudi Arabia and UAE is a major end-user of conveyor belts for material handling and transportation applications. Growing e-commerce sector is also driving automation adoption across warehouses and distribution centers thereby fueling conveyor belts demand.
Regional analysis:
The UAE market accounts for the largest share in the Middle East conveyor belts industry owing to its well-developed mining, ports, airports and manufacturing sectors. It is emerging as a logistics hub supporting intra-regional trade. Saudi Arabia market is expected to be one of the fastest growing regional conveyor belts market supported by mega infrastructure projects under the Vision 2030 plan.
Key players:
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.
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