Australia Conveyor Maintenance Market Analysis | Coherent Market Insights

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2. Australia Conveyor Maintenance MarketAnalysis (2020-2027) • 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 Mnin terms of value in the year 2018 and is expected to grow at a CAGR of 3.1% during the forecasted period (2019-2027).

3. Market Dynamics- Drivers 1. 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.

4. s 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. 2. 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.

5. Market Dynamics- Restraints 1. 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

6. 2. 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.

7. Market Opportunities 1. 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

8. 2. 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.

9. Segment information: • 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.

10. Market Trends 1. Enhancement in component design is a major trend in the market • Key companies in the market are focused on innovating specialized maintenance service tools, in order to cater increasing demand from consumer. For instance, in May 2016, Kinder Australia, a Breadside Victoria-based conveyor component supplier, launched K-Super Black Skirting Seal that is aimed at addressing the material spillage problem.

11. 2. Growing strategic alliance among key players is another major trend in the market • Key players in the maintenance industry are focused on various strategic moves such as mergers and acquisitions, in order to gain competitive edge in the market. For instance, in May 2016, Nepean, a supplier of engineering and industrial materials, acquired Elton Conveyors Pty Ltd., a manufacturer of engineered bulk materials such as conveyors and conveying equipment.

12. Regulations • AS 1755 is the Australian standard for conveyor safety. This Standard was prepared by the Joint Standards Australia/Standards New Zealand Committee SF-041. It covers the general safety requirements for large and small conveyors and conveyor systems. This standard has been recently revised in 2005 to address the difficulty for one standard to effectively cover different types of conveyors. 4 new standards have replaced AS 1755: • AS/NZS 4024.3610 - Conveyors - General requirements • AS/NZS 4024.3611 - Conveyors - Belt conveyors for bulk material handling • AS/NZS 4024.3612 - Conveyors - Chain conveyors and unit handling conveyors • AS/NZS 4024.3614 - Conveyors - Mobile and transportable conveyors

13. Value Chain Analysis

14. Competitive Section • Key players operating in the Australia conveyor maintenance market are Rema Tip Top Australia, Flexible Steel Lacing Company (Flexco), Habasit Australia Pty ltd, Fenner Dunlop Australia Pty Ltd, ForboSiegling 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.

15. Key Developements • Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in August 2019, Rema Tip Top acquired ConvaTech, an Australia-based conveyor supplier and maintenance provider. • In September 2016, ForboSiegling Pty Ltd introduced white FDA polyurethane belt- this belt was especially made for meat processing industries

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