Australia and Oceania: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Australia and Oceania

The conveyor or transmission belt market in Australia and Oceania declined to $X in 2021, waning by -14.4% against the previous year. Overall, consumption showed a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Australia and Oceania

In value terms, conveyor or transmission belt production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a slight contraction. The pace of growth was the most pronounced in 2016 with an increase of 54% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Australia and Oceania

In 2021, the amount of conveyor or transmission belts or belting exported in Australia and Oceania soared to X tons, increasing by 46% against the year before. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 276%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, conveyor or transmission belt exports rose remarkably to $X in 2021. In general, exports posted a notable expansion. The growth pace was the most rapid in 2017 with an increase of 96% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) represented roughly 99% of total exports in 2021.

Australia was also the fastest-growing in terms of the conveyor or transmission belts or belting exports, with a CAGR of +15.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest conveyor or transmission belt supplier in Australia and Oceania.

In Australia, conveyor or transmission belt exports increased at an average annual rate of +4.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, shrinking by -26.3% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the export price increased by 81%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to -10.3% per year.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Australia and Oceania

Conveyor or transmission belt imports expanded modestly to X tons in 2021, rising by 2.8% compared with 2020 figures. Over the period under review, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 17% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, conveyor or transmission belt imports rose notably to $X in 2021. Overall, imports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2017 with an increase of 28% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Australia dominates imports structure, amounting to X tons, which was near 89% of total imports in 2021. It was distantly followed by New Zealand (X tons), making up a 6.3% share of total imports. The following importers - New Caledonia (X tons) and Papua New Guinea (X tons) - each recorded a 4.1% share of total imports.

Imports into Australia decreased at an average annual rate of -9.3% from 2012 to 2021. At the same time, New Caledonia (+5.8%) and New Zealand (+3.8%) displayed positive paces of growth. Moreover, New Caledonia emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +5.8% from 2012-2021. Papua New Guinea experienced a relatively flat trend pattern. New Zealand (+4.2 p.p.) and New Caledonia (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -7.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported conveyor or transmission belts or belting in Australia and Oceania, comprising 86% of total imports. The second position in the ranking was held by New Zealand ($X), with a 9.1% share of total imports. It was followed by New Caledonia, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia amounted to -4.0%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-1.1% per year) and New Caledonia (+1.2% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, picking up by 7.2% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, conveyor or transmission belt import price increased by +79.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 51% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while New Caledonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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