The research indicates the conveyor maintenance market in Australia to reach a valuation of US$ 757.0 Mn by 2026, witnessing a 3.1% CAGR through 2026.
Valley Cottage, NY -- (SBWIRE) -- 02/23/2017 -- Future Market Insights in its recent report - "Conveyor Maintenance Market: Australia Industry Analysis and Opportunity Assessment, 2016–2026", offers key insights into the future of the conveyor maintenance market in Australia for the next decade. The research indicates the conveyor maintenance market in Australia to reach a valuation of US$ 757.0 Mn by 2026, witnessing a 3.1% CAGR through 2026.
Key Driver Insights
Bulk conveyors are the lifelines of mining industry. With mining giants facing tight production deadlines and shoestring maintenance budgets, downtime due to malfunctioning of conveyor systems has become a key area of concern. While Australia is a longstanding mining leader, Future Market Insights indicates the maximum concentration of the region's conveyor maintenance market in the mining sector.
Mineral Production Hike: The overall increase in the production and processing capacity of Australia's mining industry will amplify operating and maintenance budgets. Rising mineral production capacity is foreseen to remain the strongest factor pushing the demand for conveyor maintenance services.
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New Mining Projects: With the mining industry welcoming a host of new coal, iron ore, and gold projects, the market for conveyor maintenance is estimated to elevate gradually over the next decade. However, volatility in mining will continue to create pricing pressure, restraining the Australia conveyor maintenance market growth to a certain extent.
Conveyor Modernisation Trend: Miners are increasingly preferring modernisation of conveyors that eventually extend their life span, providing impetus to the component fixing/replacement segment.
Mining Evolution: Major mining players are increasingly engaging in plant expansion and investments. This, coupled with the steady evolution in mining operations, will create profitable opportunities for conveyor maintenance service providers. Advancements in mining are likely to boost service providers' abilities to deliver services and components confined to evolving mining operations.
By service type, the component fixing/replacement segment will continue its dominance, accounting for over 78% value share in 2026. The maintenance services segment will reportedly lose 230 BPS over 2016-2026, as one-time maintenance trend will continue to limit long-term maintenance contracts
By conveyor type, rubber segment will retain the leading position with over 95% market value share by 2026 end. While the plastic and others segment will be sustained by the adoption of enhanced materials such as polyurethane, the metal segment will continue to hold a negligible market value share due to application in the automotive and food manufacturing sector
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Among conveyor components, rollers and conveyor belts will dominate over cleaners and other components over the forecast period. Roller and idler segment is forecast to lead, followed by conveyor belt segment
Mining will remain the largest end-use segment with over three-fourth revenue share by 2026 end
Key Player Insights
Future Market Insights has profiled the leading players operating in the Australia conveyor maintenance market. These include Rema Tip Top Australia, Flexible Steel Lancing Company (FLEXCO), Habasit Australia Pty Ltd., Fenner Dunlop Australia Pty Ltd., Forbo Siegling Pty Ltd., ContiTech Australia Pty. Ltd., Reliable Conveyor Belt Pty. Limited, Kinder Australia Pty Ltd, Nepean Engineering & Innovation Pty Ltd., Minprovise Pty Ltd., Endless Belt Service Pty Ltd, and Mato GmbH & Co. KG. The market is currently witnessing a consolidation trend.