The Australian conveyor maintenance market was valued at US$ 542.6 Mn in 2015. The Australian conveyor maintenance market is estimated to be valued at US$ 558.7 Mn by 2016 and is estimated to touch a market valuation of over US$ 700 Mn by end of 2026 registering a CAGR of 3.1% over the forecast period (2016 – 2026). The market is projected to represent an incremental opportunity of nearly US$ 200 Mn between 2016 and 2026.
Conveyor structures are one of the most crucial parts used in mining, industrial and strength industries, which also account for a big contribution to Australia’s economy. With vital operations laid low with conveyor downtime, the right protection and functioning of conveyor components are pivotal to cease-consumer industries which include mining, industrial & automotive, pharmaceutical, food processing, and others (strength, fertilizer, shipping, and logistics).
The mining industry is one of the important participants and drivers of the Australian conveyor upkeep market thanks to its full-size utilization in mineral extraction, processing, and transporting. The volatility in commodity costs in Australia has shifted the attention of mining corporations from buying and selling to the expansion of mineral sources. Mining corporations are increasing mineral quantity manufacturing, due to which manufacturing of prime commodities inclusive of iron ore and coal manufacturing multiplied in 2015.
Mining businesses are aiming at reducing operating expenses and are therefore conducting financial and bendy settlement alternatives. Rio Tinto, Glencore, and anglo American are a few of the leading mining businesses in Australia that engage in a couple of short-time period contracts for one-of-a-kind additives and services.
Even though belt replacement maintenance depends on more than one factor such as running loads, belt speed, and other factors, belts with widths of 2000mm-2400mm require less frequent maintenance in comparison to lower width belts. For additives such as idlers & curlers and pulley lagging, mining companies opt for choosing the lowest charge in line with the unit as they require a maximum quantity alternative.
Revenue from the mining segment is estimated to reach US$ 404.5 Mn by the 2016 end and is projected to create incremental $ opportunities over US$ 165 Mn between 2016 and 2026. Increasing mineral commodity production in Western Australia and New South Wales is anticipated to significantly boost the revenue of the segment.
As the mining industry is witnessing distinctly moderate growth, mining organizations aiming at extracting excessive volume of coal and iron ore are anticipated to invest drastically in infrastructure and machinery. The clearance of several billion greenback tasks that purpose to expand current operations or set up new vegetation is probably to create beneficial opportunities for both installers as well as preservation carrier vendors. With average provider and upkeep contracts starting from three to five years, service providers can attention to flexible service and component substitute packages.
Australia Conveyor Maintenance Market Segmentation
By Conveyor Type
By Service Type
- Component Fixing
- Maintenance Services
By Component Type
- Conveyor Belt
- Roller and Idler
- Others (Skirting clamps, pulley lagging, fastener, impact beds & splicing kits )
By End-use Industry
- Industrial and automotive
- Food Processing
- Others (Power, Fertiliser, transport, and logistics)