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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 mainly attributed to various factors, regarding which FMI offers detailed insights in its report.
Market Segmentation
On the basis of product type, Middle East conveyor belts market has been segmented into metal-reinforced rubber conveyor belt, fabric-reinforced rubber conveyor belt and plastic conveyor belts. Metal-reinforced rubber conveyor belt segment has been estimated to account for 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, Middle East conveyor belts market has been segmented into conductive conveyor belt, abrasion-resistant conveyor belt, heat- and flame- resistant and oil-resistant conveyor belts. Conductive conveyor belt segment has been estimated to account for 13.5% value share in 2015 and is expected to register a CAGR of 5.7% over the forecast period.
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On the basis of application, 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, mining segment has been estimated to account for value share of 22.9% in 2015.
By weight, Middle East conveyors belts market is segmented into lightweight, medium-weight and heavyweight; among these, medium-weight segment has been estimated to account for value share of 49% in 2015, which is projected to increase to 49.5% by 2026. In Middle East conveyor belts market, lightweight segment is projected to exhibit the highest CAGR of 5.0% over the forecast period.
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Key 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, Ziligen A.S., Major participants are focusing on collaborations and partnerships with service providers to enter into new markets. These key players are also focusing on expanding their offerings and provide end-to-end solutions, which include conveyor belt manufacturing, service and maintenance.