May 27, 2024

The Middle East Conveyor Belts Market Is Driven By Growing Infrastructure And Mining Industry

The Middle East conveyor belts market has been growing significantly over the past decade due to rapid industrialization and infrastructure development in the region. Conveyor belts help transport raw materials as well as finished goods efficiently over long or short distances in various industries such as mining, airport, seaport, construction, manufacturing, and warehouse & distribution. They facilitate mass movement of items from one place to another in a safe, reliable and cost-effective manner. The end-use industries in the Middle East have been relying heavily on conveyor belts for transportation needs to support their increasing production output. Advancements in belt construction technology have led to more durable, rugged and heavy-duty belts that can withstand harsh outdoor and industrial environment conditions.

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, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends witnessed in the Middle East conveyor belts market is the integration of IoT (Internet of Things) technology. Modern conveyor belts are being embedded with sensors to monitor operational parameters and transmit real-time data for predictive maintenance. The IoT-enabled conveyor belts help detect issues instantly and reduce downtime by enabling condition-based servicing. They also optimize productivity and throughput by facilitating remote monitoring and control. This IoT-based smart conveyor concept is gaining popularity among end-use industries as it improves conveyor reliability while lowering total cost of ownership over the long run.

 

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the Middle East conveyor belts market is moderate. Established key players dominate the market and new entrants require significant investments to challenge existing players.

Bargaining power of buyers: The bargaining power of buyers in the Middle East conveyor belts market is high. Buyers can negotiate on price and quality of conveyor belts due to availability of various options from key players.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are ample raw material suppliers. However, suppliers do not hold significant influence over players due to availability of substitute materials.

Threat of new substitutes: The threat of substitutes is low in the Middle East conveyor belts market as conveyor belts have few alternatives for product handling in various industries.

Competitive rivalry: The Middle East conveyor belts market witnesses high competition between key players to increase market share.

Key Takeaways

The Global Middle East Conveyor Belts Market Demand is expected to witness high growth during the forecast period of 2024 to 2031 supported by rapid industrialization and construction activities in the region.

Regional analysis:

 

The GCC countries dominate the Middle East conveyor belts market led by Saudi Arabia and UAE. This is attributed to large scale industrial production and infrastructure development projects underway in these countries.

Key players:

 

Key players operating in the Middle East conveyor belts market 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.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it