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Australian Conveyor Maintenance Market to Hit $757M by 2026
January 11, 2017
2 Min Read
Australia's conveyor maintenance market is expected to grow by a CAGR of 3.1% through 2026. Image courtesy of Flickr user raidokaldma
The conveyor maintenance market in Australia is expected to grow by a compound annual growth rate (CAGR) of 3.1% to a value of $757 million by 2026, a new report by Future Market Insights forecasts.
Due to Australia’s leading global position in mining and an anticipated rise in production and processing capacities there over the next decade, the country’s mining sector is expected to hold the largest share of the conveyor maintenance market through the forecast period.
“Rising mineral production capacity is foreseen to remain the strongest factor pushing the demand for conveyor maintenance services,” a Jan. 11 press release said, noting that several new coal, iron ore, and gold projects are set to be launched in Australia through 2026.
Researchers said there will be a trend in the Australian mining industry pushing for the modernization of existing conveying equipment to expand the equipment’s lifespan, driving the component fixing/replacement segment of the market.
Australian mining companies are expected to expand facilities and investments and update existing plants over the period.
“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,” Future Market Insights said. “Advancements in mining are likely to boost service providers’ abilities to deliver services and components confined to evolving mining operations.”
The component fixing/replacement segment is anticipated to lead the market, holding an estimated 78% value share in 2026. The maintenance services segment will be hindered during the period, according to the firm, because of a trend of companies seeking one-time maintenance engagements rather than long-term maintenance contracts.
Rubber conveyors are projected to hold a 95% share of market value, while plastic and other types of conveyors are predicted to maintain a “negligible market value share” as automotive and food manufacturing clients adopt those types of equipment through the period.
Future Market Insights said that rollers and conveyor belts will lead the conveyor components segment over cleaners and other products, with rollers and idlers dominating over conveyor belts.
Some key players in Australia’s conveyor maintenance market are identified as Rema Tip Top Australia, Kinder Australia Pty Ltd, Reliable Conveyor Belt Pty Litd, Forbo Siegling Pty Ltd, Endless Belt Service Pty Ltd, Mato GmbH & Co. KG, Minprovise Pty Ltd, and others.
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