At 4.8% CAGR, the Middle East & Africa Bucket Elevator Market is projected to be worth US$ 97.69 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa bucket elevator market was valued at US$ 73.59 million in 2022 and is expected to reach US$ 97.69 million by 2028, registering a CAGR of 4.8% from 2022 to 2028. Integration of predictive maintenance solutions  and growing demand for bucket elevator in fertilizer industry are the critical factors attributed to the Middle East & Africa bucket elevator market expansion.

The presence of several moving components, and the prime function of handling materials in bulk render bucket elevator high-maintenance systems. They are used extensively and without a break in most facilities. Thus, if they are not properly maintained, plants may face frequent disruptions in functioning. Regular cleaning is required to ensure material build-up is continually removed. Also, cleaning the boot after each use is crucial if the elevator is used seasonally. Most bucket elevator manufacturers provide preventive maintenance schedules and activity lists to users for ensuring the smooth operation of the equipment. However, users frequently fail to follow these schedules. Hence, there is a growing demand for bucket elevator integrated with predictive maintenance solutions. Predictive maintenance involves monitoring the performance of these elevator while they are in operation, using condition-monitoring tools and techniques. The recorded information allows technicians to predict future points of failure in monitored elevator, followed by enabling the repair or replacement of parts before failure.

Predictive maintenance can significantly aid in the reduction of maintenance frequency while eliminating unplanned reactive maintenance, minimizing elevator downtime, and reducing associated maintenance costs. The ongoing developments in artificial intelligence (AI) and machine-to-machine (M2M) communications have created new possibilities for gathering artificially derived information from bucket elevator. IoT devices, including detectors, cameras, and other connected devices, can derive vast amounts of data from various parts of bucket elevator. Throughout the machine's lifecycle, IoT sensors collect any relevant data and store it on the cloud. AI can make specific recommendations on what actions need to be taken to maintain the health of company assets. Companies are integrating AI into predefined predictive maintenance models to automate data interpretation processes and gain real-time awareness from data generated from these IoT devices. Often, these recommendations are warnings of actions that a technician should take. These recommendations may vary from a simple request to perform a software update or tightening of bolts to complex repairs. AI and machine learning (ML) advancements can significantly change how predictive maintenance works. Bucket elevator market players have already started rolling out predictive maintenance solutions for these products. In February 2020, AUMUND Group launched PREMAS 4.0, a predictive maintenance solution, worldwide. The solution was developed through a partnership with PREMAS AG of Switzerland, and the majority of applications were for belt and chain bucket elevator, pan conveyors, and silo discharge systems. AUMUND claims Heidelberg Cement, Saudi Cement Company, Fujairah Cement, Union Cement, Aditya Birla Group, Shree Group, Holcim, Votorantim, and Conch Cement are a few of the users of this solution. In January 2023, CICSA srl designed a solution for comprehensive predictive maintenance of conveyor systems. The solution can automatically measure and track the wear and tear status, along with the mechanical loading conditions of the chain equipment of any type of bucket elevator and conveyor. Such solutions are likely to be installed on most conveyor systems, such as bucket elevator, in the near future.  

On the contrary, difficulties in maintenance and availability of alternative conveyors hurdles the growth of Middle East & Africa bucket elevator market.

Based on type, the Middle East & Africa bucket elevator market is segmented into centrifugal discharge elevator, continuous discharge elevator, positive discharge elevator. The centrifugal discharge elevator segment held 60.8% share of Middle East & Africa bucket elevator market in 2022, amassing US$ 44.72 million. It is projected to garner US$ 60.93 million by 2028 to expand at 5.3% CAGR during 2022–2028.

Based on capacity, the Middle East & Africa bucket elevator market is segmented as upto 350 cubic feet per hour, 351–830 cubic feet per hour, 2001 – 2800 cubic feet per hour, 831 – 2000 cubic feet per hour, above 2801 cubic feet per hour. The 350 cubic feet per hour segment held 36.8% share of Middle East & Africa bucket elevator market in 2022, amassing US$ 27.11 million. It is projected to garner US$ 37.81 million by 2028 to expand at 5.7% CAGR during 2022–2028.  

Based on industry, the Middle East & Africa bucket elevator market is segmented into construction, agriculture, mining, fertilizers & chemicals, energy and utilities, paper and pulp, others. The construction segment held 29.7% share of Middle East & Africa bucket elevator market in 2022, amassing US$ 21.86 million. It is projected to garner US$ 30.63 million by 2028 to expand at 5.8% CAGR during 2022–2028.  

Based on country, the Middle East & Africa bucket elevator market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa.  Our regional analysis states that Saudi Arabia captured 29.7% share of  Middle East & Africa bucket elevator market in 2022. It was assessed at US$ 21.86 million in 2022 and is likely to hit US$ 30.63 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.  

Key players profiles in  the Middle East & Africa bucket elevator market report AGCO Corp; BEUMER Group GmbH & Co KG; Ryson International Inc; Satake Corp; and Skandia Elevator AB, among others.

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