The Middle East conveyor belts market constitutes conveyor belts that are used for transporting heavy, bulky and hot materials across various industries such as mining, food and beverages, automotive and transportation, consumer goods, and others. Conveyor belts find extensive usage for material handling purposes as they aid in bulk transport at low cost. Rapid industrialization and growth of logistics sector across the Middle Eastern countries have augmented the demand for conveyor belts.
The Global Middle East Conveyor Belts Market is estimated to be valued at US$ 247.6 Bn in 2024 and is expected to exhibit a CAGR of 42% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Middle East conveyor belts are ABB; ANSYS, Inc.; Autodesk Inc.; AVEVA Group plc; Amazon Web Services, Inc.; Dassault Systèmes; GE DIGITAL; General Electric; Hexagon AB; IBM Corporation; Microsoft Corporation; PTC Inc.; Rockwell Automation; SAP SE; Siemens AG. The growing demand from end use industries such as food & beverage, mining, automotive and airports has led to surge in conveyor belts market. Rapid urbanization and industrialization across Middle Eastern countries is expected to boost the demand for conveyor belts during forecast period. The key players are expanding globally to strengthen their market presence by partnering with regional players and setting up manufacturing plants in high demand regions including Middle East.
Market key trends
One of the key trends gaining traction in Middle East Conveyor Belts Market Growth is cloud computing. Cloud adoption is enabling real-time analytics and remote monitoring of conveyor belts across various industries. Cloud-based conveyor belt monitoring solutions allow predicting potential downtimes and automating maintenance tasks. This is resulting in optimized productivity and reduced operational costs. Data gathered from sensors installed on conveyor belts is processed on cloud to gain insights for improving efficiency. The trend of digitalization and IoT is thus expected to drive the Middle East conveyor belts market during forecast period.
Porter’s Analysis
Threat of new entrants: The initial investment requirement is high as the conveyor belts manufacturing require significant capital investments in R&D, manufacturing infrastructure. Bargaining power of buyers: There are large number of buyers in industrial sectors such as food processing, automotive and manufacturing which increases their bargaining power.
Bargaining power of suppliers: The suppliers have limited bargaining power as there are many suppliers for raw materials used for manufacturing conveyor belts.
Threat of new substitutes: Though robotics and automation offer substitutes but conveyor belts continue to be important for transportation of heavy loads and bulk materials in many industries.
Competitive rivalry: The market is dominated by few international players while regional players focus on local markets.
The Middle East conveyor belts market is dominated by high volume consuming industries located in countries like Saudi Arabia, UAE, Egypt, Turkey and Iran. These countries account for over 70% of the total regional market value due to concentration of oil and gas, mining, maritime and other heavy industries.
Turkey is emerging as the fastest growing geographical region for conveyor belts market in middle east. The industrial sector growth in automotive, food processing, construction and other industries has increased the demand for bulk material handling equipment including conveyor belts. The regional players in Turkey also see increasing export opportunity in west Asian and African markets driving higher growth compared to other middle eastern countries.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it