NEWARK, DE / ACCESSWIRE / October 7, 2022 / The global middle east conveyor belt market is predicted to surge at a healthy CAGR of 4.6% throughout the forecast period from 2022 to 2032. The market was valued at US$ 199.40 bn in 2021 and is expected to reach US$ 207.57 bn in 2022. The global market is anticipated to generate total revenue of US$ 325.45 bn by 2032. The growth in the market is attributed to the surge in infrastructural activities, combined with the adoption of advanced technologies and several other factors to drive the Middle East conveyor belt market during the forecast years.
Owing to the rapid infrastructural activities, which have resulted in a rise in the number of construction sites in the Middle East, combined with the rising adoption of robotic process automation and material handling equipment in the region and makes it one of the vital industrial products. This is expected to showcase a positive outlook on the Middle East conveyor belt market.
Conveyor belts are considered to be one of the most crucial materials handling equipment divisions. Besides that, due to the surging development across industries in the Middle East, conveyor belts are certainly the most sought-after industrial belts in the region. According to the historical analysis, the Middle East conveyor belt market exhibited a CAGR of 4.1%. In addition to that, the conveyor parts market is at present undergoing massive technological advancements. The credit goes to IoT, Artificial Intelligence, and the inception of 5G, and the market is undergoing huge technological upgradation. These developments would certainly raise the bar for the Middle East conveyor belt market future trends.
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Key Takeaways
- According to the FMI analysis, if the market had surged on the basis of the potential that it holds, then the main strategy consists of mergers and strategic collaborations. For instance, Acme, one of the leading firms that offer warehouse automation solutions based in Dubai has announced that it has started laying special emphasis on developing the fabrication and manufacturing capabilities of the conveyor belts to assuage the rising demand-supply gap.
- In addition to that, Dubai has recently introduced Robotics and Automation Program in order to make its economy even stronger. This move comes into action when Dubai is taking all strides to bolster its economy. This move is anticipated to offer200,000 robotic technologies to increase efficacy in the areas of services, logistics, supply chain management, etc. keeping in the mind the development of the industrial sector.
- It has been predicted that the conveyor belt market in the Middle East is all set for growth to the end of time owing to the steps taken by Acme and the launching of the Robotics and Automation Program. The reason for the surge is that the authorities and the key players are working in tandem to deliver top-notch conveyor belt solutions.
- Another crucial manufacturer has recently launched a new range of plied synthetic PVC-covered belts for elevators. These were manufactured specifically on the grounds of innovation and optimization, and these are specifically designed to meet the challenges faced by the food bulk industry. The advantages offered by this solution include low maintenance cost, wear-resistant, and high holding capacity.
- The 5G autonomous mobile robot is implemented in the manufacturing of the covered belts and the conveyor belts, the process would certainly speed up, and because of the combination of automation and 5G technology, human interference would be very less in the manufacturing of these belts. Ultimately, the production capacity would increase by at least 2 times.
Competitive Landscape
The key market players in the Middle East conveyor belt market are focusing on heavy investigation in Research and Development to identify products that can be used in the manufacturing of conveyor belts. In addition to that, the prominent manufacturers are also massively indulging in meaningful mergers, which would be profitable for the business in the long run.
Key Companies Profiled in the Middle East Conveyor Belts Market are 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, Ziligen A.S.
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More Insights into the Middle East Conveyor Belts Market
The global North American conveyor belt market is expected to exhibit a robust CAGR of 4.5%. The growth is attributed to the development activities which incorporate the construction of manufacturing facilities, airports, shopping centers, etc. currently driving the North American conveyor belt market.
Key Segments in the Middle East Conveyor Belts Market
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 & Fertilisers
- Packaging Industry
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Government Initiatives and Strategic Collaborations are the Way Ahead for the Middle East Conveyor Belts Market. North America Conveyor Belts Market is predicted to surge at a healthy CAGR of 4.5% during 2022 -2032. Europe Conveyor Belts Market valued at US$ 2 bn in 2022
Table of Content
1. Executive Summary
1.1. Middle East Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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