Azerbaijan: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Azerbaijan

In 2021, the Azerbaijani conveyor or transmission belt market increased by 19% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption enjoyed a buoyant increase. Conveyor or transmission belt consumption peaked in 2021 and is likely to continue growth in years to come.

Production of Conveyor Or Transmission Belts Or Belting in Azerbaijan

In value terms, conveyor or transmission belt production contracted slightly to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when the production volume increased by 8.7%. Conveyor or transmission belt production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Azerbaijan

In 2021, the amount of conveyor or transmission belts or belting exported from Azerbaijan surged to X tons, growing by 1,196% compared with the previous year's figure. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 3,938%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, conveyor or transmission belt exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2018 when exports increased by 2,571% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Georgia (X tons) and Germany (X kg) were the main destinations of conveyor or transmission belt exports from Azerbaijan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +312.8%).

In value terms, Georgia ($X) and Germany ($X) constituted the largest markets for conveyor or transmission belt exported from Azerbaijan worldwide.

Germany, with a CAGR of +298.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, declining by -69.4% against the previous year. Over the period under review, the export price, however, saw a significant increase. The pace of growth appeared the most rapid in 2014 an increase of 964% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then fell dramatically in the following year.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Germany totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+20.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Azerbaijan

In 2021, approx. X tons of conveyor or transmission belts or belting were imported into Azerbaijan; surging by 8.5% on the previous year's figure. Over the period under review, imports saw a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 49% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, conveyor or transmission belt imports surged to $X in 2021. Overall, imports saw prominent growth. The pace of growth appeared the most rapid in 2013 when imports increased by 50% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of conveyor or transmission belt imports to Azerbaijan, together comprising 81% of total imports. These countries were followed by Russia, Poland and Germany, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +114.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt suppliers to Azerbaijan were Turkey ($X), China ($X) and the United Arab Emirates ($X), together accounting for 52% of total imports. Russia, Germany and Poland lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Poland, with a CAGR of +91.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, growing by 14% against the previous year. Overall, the import price continues to indicate slight growth. The pace of growth was the most pronounced in 2013 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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