Belarus: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in Belarus

The Belarusian underground continuous-action elevator market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, showed a abrupt contraction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Underground Continuous-Action Elevator Production in Belarus

In value terms, underground continuous-action elevator production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 46%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports from Belarus

In 2021, underground continuous-action elevator exports from Belarus declined significantly to X units, dropping by -81% against 2020 figures. Overall, exports recorded a perceptible decline. The growth pace was the most rapid in 2014 with an increase of 830%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, underground continuous-action elevator exports shrank dramatically to $X in 2021. In general, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2014 with an increase of 1,112% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Estonia (X units) was the main destination for underground continuous-action elevator exports from Belarus, with a 94% share of total exports. Moreover, underground continuous-action elevator exports to Estonia exceeded the volume sent to the second major destination, Russia (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Estonia amounted to -5.3%.

In value terms, Estonia ($X) remains the key foreign market for underground continuous-action elevators and conveyors exports from Belarus, comprising 90% of total exports. The second position in the ranking was held by Russia ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Estonia stood at -4.1%.

Export Prices by Country

The average underground continuous-action elevator export price stood at $X per unit in 2021, declining by -21.6% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, underground continuous-action elevator export price decreased by -29.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+19.5%), while the prices for the other major destinations experienced mixed trend patterns.

Underground Continuous-Action Elevator Imports

Imports into Belarus

In 2021, overseas purchases of underground continuous-action elevators and conveyors decreased by -52.3% to X units, falling for the fourth consecutive year after six years of growth. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 185%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, underground continuous-action elevator imports fell to $X in 2021. Overall, imports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 134%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X units) and Russia (X units) were the main suppliers of underground continuous-action elevator imports to Belarus.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of 0.0%).

In value terms, Turkey ($X) constituted the largest supplier of underground continuous-action elevators and conveyors to Belarus, comprising 70% of total imports. The second position in the ranking was held by Russia ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey was relatively modest.

Import Prices by Country

The average underground continuous-action elevator import price stood at $X per unit in 2021, jumping by 82% against the previous year. Over the period under review, the import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of 136%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for Russia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+12.3%).

Source: IndexBox Platform

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