Australia Conveyor Maintenance Market Analysis By Manufacturers Rema Tip Top Australia, Flexible Steel Lacing Company (Flexco), Habasit Australia , Fenner Dunlop Australia, Forbo Siegling
A conveyor system is a common piece of mechanical handling device that moves materials/objects from one location. A conveyor is often lifeline to a company’s ability to effectively move its products in a timely manner. While it is used constantly in a manufacturing plant, proper maintenance from trained technicians can extend the lifespan of conveyor. Furthermore, conveyor maintenance is essential as it may be subjected to different types of failures including belt spice failure and fastener misalignment, seized and misaligned idler and roller, off-center loading or improper loading of the belt, belt misalignment, conveyor belt drive breakdown of failure, etc. In order to provide, different precautionary steps are taken such as cleaner maintenance, pulley lagging, belt and roller tracking, vibrational analysis, and more.
The Australia Conveyor Maintenance Market accounted for US$ 593.0 Mn in terms of value in the year 2018 and is expected to grow at a CAGR of 3.1% during the forecasted period (2019-2027).
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Market Dynamics- Drivers
Increasing production of mineral goods is expected to drive growth of the Australia conveyor maintenance market during the forecast period
The prices of mineral goods have decreased significantly in the recent past, owing to high operational cost that affects profitability of mining business in Australia. However, increasing production of mineral commodities from new mines has led to expansion of the production capacity of iron mines. According to the Government of Queensland, Western Australia iron production accounted for 741 million ton in 2015, while total coal production increased by 4.9% and reached 319.3 million ton in 2015. Furthermore, according to Coherent Market Insights’ analysis, the iron ore production is expected to expand at 3.8% CAGR between 2016 and 2022. This, in turn, expected to boost the demand for conveyor maintenance and service providers to offer services and replacement components for reducing downtime and increasing plant efficiency.
Increasing production and sales of vehicles across the country is expected to propel the Australia conveyor maintenance market growth over the forecast period
The demand for vehicles, especially cars have increased in the recent past, which in turn, has increase production of cars significantly. According to Federal Chamber of Automotive Industries, in 2017, Australian new vehicle market reached 1.189 in terms of volume, increasing by 0.9% from 2016. Different types of conveyors are used in automotive industry such as belt conveyors, roller conveyors, and overhead conveyors to transport various parts of the vehicle including chassis, engine, body frame, etc. As conveyor belts are constantly used, growing production of cars is expected to drive the Australia conveyor maintenance market growth in the near future.
Market Dynamics- Restraints
Rising pricing pressure over service and components providers is expected to restrain the Australia conveyor maintenance market growth over the forecast period
Declining commodity prices timid global mineral demand has impacted Australian mineral exploration activities significantly. This has led to shut down of number of mining operations while surviving corporations are focused on minimizing loses by controlling expenditure and capital and operational cost. Due to this, there have been limited contract renewals from single maintenance provider. This, in turn, is expected to restrain the market growth over the forecast period
Lack of skilled workforce that are trained for maintenance work is expected to hinder the Australia conveyor maintenance market growth during the forecast period
Conveyor maintenance is a meticulous process, which requires well-learned and skilled workforce. Improper maintenance of conveyor can stall the entire production line and lead to major technical issues. Moreover, it is expected to hinder the overall productivity and economy of the organization. Such factors are expected to hamper the market growth over the forecast period.
Development of advanced technologies and advent of ‘Green Conveyors’ are expected to be market opportunities
Averments in technologies have opened gates for new innovative products such as Green Conveyors. Various manufacturers have manufactured eco-friendly conveyors with energy efficient materials. Such conveyors have low impact on the environment, which in turn, is expected to offer conducive growth opportunities for market players over the forecast period
Lucrative growth of manufacturing industry is expected to pose significant business opportunities over the forecast period
Manufacturing industry is one of the major industries that extensively use conveyors for transportation of different materials, goods, objects and more. According to Australian Government Department of Industry, Innovation and Science, Australian manufacturing industry was valued at around US$ 100 in 2016-2017. This, in turn, is expected to provide major growth opportunism for key companies to seize the untapped market potential.
In Australia conveyor maintenance market, by conveyor type segment, rubber conveyor sub-segment dominated in 2018, accounting for 95% share in terms of value, followed by others and metal conveyors, respectively.
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