Australia's conveyor maintenance market is set to exceed $700 Mn by 2026, driven by mining and industrial sectors, despite price volatility.
The Australia conveyor maintenance market was valued at US$ 542.6 Mn in 2015. The Australia conveyor maintenance market is estimated to be valued at US$ 558.7 Mn by 2016 and is estimated to touch a market valuation in excess of US$ 757 Mn by end of 2026 registering a CAGR of 3.1% over the forecast period (2016 – 2026). The market is projected to represent incremental opportunity of nearly US$ 200 Mn between 2016 and 2026.
Conveyor systems are one of the most crucial parts used in mining, industrial and power industries, which also account for significant contribution to Australia’s economy. With critical operations affected by conveyor downtime, proper maintenance and functioning of conveyor components is pivotal to end-user industries such as mining, industrial & automotive, pharmaceutical, food processing, and others (power, fertiliser, transport and logistics).
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Increase in mineral commodity production and new mining establishments to drive the Australia conveyor maintenance market revenue growth
Mining industry is one of the major contributors and drivers of the Australia conveyor maintenance market owing to extensive utilisation in mineral extraction, processing and transporting. The volatility in commodity prices in Australia has shifted focus of mining companies from trading to expansion of mineral resources. Mining companies are increasing mineral volume production, as a result of which production of prime commodities such as iron ore and coal production increased in 2015.
This increase in production, extraction and processing is predicted to create a sustainable demand for maintenance services. Likewise new mining establishments and projects related to iron ore, gold and coal are estimated to start during the period 2016–2022, and are expected to create fresh revenue streams for suppliers and service providers.
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.
Segmentation Insights
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
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
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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.
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The article discusses the growth of Australia's conveyor maintenance market, projected to exceed $700 Mn by 2026.
The mining industry is a major driver due to its extensive use of conveyors in mineral extraction and processing.
Conveyor modernisation extends lifespan and boosts demand for maintenance services, particularly in the mining sector.
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