SEATTLE, May 28, 2020 (GLOBE NEWSWIRE) -- A conveyor system is a type of mechanical handling device that moves materials from one location to another. Conveyors are useful in the transportation of bulky or heavy materials and facilitate quick and efficient transportation for a number of materials. It is typically popular in packaging and material handling industries. Conveyor maintenance is a crucial part since it can be subjected to belt misalignment, belt cleaner blade wear out or fail, off-center loading, material slippages, conveyor belt drive breakdown, etc. For this, various maintenance and repair operations are performed including belt and roller tracks, pulley lagging, vibrational analysis, roller, and idle maintenance, belt refurbishment and maintenance, etc.
The Australia Conveyor Maintenance market is estimated to account for US$ 610.7 Mn in 2019 and is expected to grow at a CAGR of 3.1 % over the forecasted period 2020-27.
Market Drivers:
- Increasing growth of the e-commerce industry is expected to support growth of the Australia conveyor maintenance market during the forecast period
The e-commerce industry has witnessed significant growth in Australia. Numerous e-commerce companies such as eBay Australia, Amazon Australia, JB Hi-Fi, Coles, Kogan.com, Big W, Chemist Warehouse, Officeworks, etc. are focused on strengthening their foothold across the country. According to the National Australia Bank, online department and variety stores witnessed growth of 29.6% in 2018 and is expected to register similar growth 2019. Rising awareness regarding the benefits of e-commerce stores has led to the expansion of the e-commerce industry. Thus, these factors are expected to support growth of the Australia conveyor maintenance market during the forecast period.
- Growing demand for processed food is expected to accelerate the Australia conveyor maintenance market growth over the forecast period
Processed food is gaining significant traction in Australia with the availability of a variety of food products. It includes seafood processing, biscuit manufacturing, ice cream manufacturing, snack food manufacturing, cheese manufacturing, bacon, ham and bird fee manufacturing, poultry processing, fruit juice manufacturing, cereal food manufacturing, etc. Rising urban population and increased disposable incomes have increased the demand for processed food across the country. Hence, these factors are expected to accelerate the Australia conveyor maintenance market growth in the near future.
Market Opportunities:
- Advent of boom conveyor can present lucrative growth opportunities
- High growth of manufacturing industry can provide major business opportunities
Market Restraint:
High initial investments are expected to restrict the Australia conveyor maintenance market growth during the forecast period
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Key Takeaways:
- Among End-use Industry segment, Mining sub segment is expected to dominate the Australia Conveyor Maintenance market over the forecasted period 2020-27. This is owing to the technological developments in the Conveyor by the Australian Companies. Rudex Australia, a provider of Rubber and Conveyor Solutions, developed specially designed Hoses for Mining Industry. These hoses are available in hardwall and softwall options. It also buffers vibration and movements. Moreover, Belt Conveyors in Mining industry are used to transport all forms of material including excavated and crushed rock over long distances.
- Among Conveyor Type segment Rubber sub segment is expected to create a lucrative opportunity for Australia Conveyor Maintenance market as these Robber Conveyor belt have various advantages. Rubber Conveyor can transmit the shock and vibration and so they transmit lower transmission noise. Moreover, the Rubber Conveyor belts does not require lubrications.
Competitive Section:
Major companies involved in the Australia conveyor maintenance market are Mato GmbH & Co. KG, Rema Tip Top Australia, Endless Belt Service Pty Ltd., Flexible Steel Lacing Company (Flexco), Minprovise Pty Ltd, Habasit Australia Pty ltd, Nepean Engineering & Innovation Pty Ltd., Fenner Dunlop Australia Pty Ltd, Kinder Australia Pty Ltd., Forbo Siegling PTY. Ltd., Reliable Conveyor Belt Pty. Limited, and ContiTech Australia Pty. Ltd.
Key Developments:
Major companies in the market are focused on product launches, in order to expand product portfolio. For instance, in July 2019, Flexible Steel Lacing Company introduced a new kit to make emergency rip repairs on heavy duty conveyor belts.
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Market Segmentation:
- By Conveyor Type
- Rubber
- Metal
- Plastic
- By Component Type
- Conveyor Belt
- Roller and Idler
- Cleaner
- Others (Skirting clamps, Pulley lagging, fastener, impact beds, Splicing kits, etc.)
- By End-use Industry
- Mining
- Industrial and Automotive
- Pharmaceutical
- Food Processing
- Others (Power, Fertiliser, Transport, and Logistics)
- By Service Type
- Component Fixing
- Maintenance Service