April 18, 2024
Middle East Conveyor Belts Market

Middle East Conveyor Belts Market Is Estimated To Witness High Growth Owing To Growing Construction Industry

Conveyor belts are used to handle bulk materials and items smoothly and efficiently in various industries like construction, food processing, automotive, and airports. They are used in material handling processes to transfer materials from one place to another by continuous movement. They are designed for applications requiring gentle handling of fragile or light objects. The conveyor belt manufacturers are focusing on developing conveyor solutions with advanced features like vibration monitoring, low maintenance and noise reduction. The construction industry in the Middle East region has shown significant growth over the years and is expected to witness high growth owing to increasing infrastructure development projects. This in turn will drive the demand for conveyor belts in the region.

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, and Siemens AG. These players are focusing on geographical expansion and introducing innovative belt designs to cater to industry-specific requirements.

The key opportunities in the Middle East conveyor belts market include increasing investments in automotive, food & beverage, and airports industry. There is also a rise in adoption of robotics and automation solutions across industries which will drive the demand for conveyor belts.

The global expansion of the Middle East conveyor belts market is supported by growing exports from regional players to African and Asian countries. Major players are focusing on collaborations with local players to leverage opportunities in Africa owing to rising economic and infrastructure growth.

Market drivers

The major driver for the growth of Middle East Conveyor Belts Market Size is the robust growth of the construction industry in the region. According to data, the construction industry in GCC alone is estimated to be worth over US$ 230 Bn by 2023. The governments in Middle East are investing heavily in infrastructure projects such as metro lines, airports, dams, roads and power plants which will propel the demand for conveyor belts used in material handling at construction sites over the forecast period.

PEST Analysis

Political: The Middle East region has seen significant political changes and instability in recent years such as war, conflict and diplomatic tensions between countries which has impacted the adoption of new technologies and infrastructure modernization.

Economic: The economic growth in the Middle East region driven by higher oil prices and government investments in sectors such as construction, manufacturing and energy has boosted demand for conveyor belts used majorly for material handling, transportation and logistics.

Social: Rising income levels and changing lifestyles have increased consumer goods consumption and demand for reliable and efficient material handling systems using conveyor belts across industries such as food processing and packaging.

Technological: Advancements in belt construction, material composition and automation integration have made conveyor belts more durable and efficient. The adoption of IoT sensors is allowing remote monitoring of conveyor belt performance.

The geographical regions concentrated in terms of value for the Middle East conveyor belts market are GCC countries led by Saudi Arabia and United Arab Emirates as well as Egypt given their expanding manufacturing sector, large construction projects and major investments in industries where conveyor belts are highly utilized. Turkey has also emerged as one of the fastest growing regional markets for conveyor belts due to its strategic location connecting Asia and Europe along with a growing economy. The construction of new factories, warehouses, airports and seaports support the demand for conveyor belts in Turkey.

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