Denmark: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Denmark

In 2021, the Danish conveyor or transmission belt market increased by 25% to $X, rising for the fourth year in a row after three years of decline. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +117.2% against 2017 indices. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Production of Conveyor Or Transmission Belts Or Belting in Denmark

In value terms, conveyor or transmission belt production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Denmark

In 2021, after two years of decline, there was significant growth in shipments abroad of conveyor or transmission belts or belting, when their volume increased by 26% to X tons. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, conveyor or transmission belt exports soared to $X in 2021. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Sweden (X tons) and Norway (X tons) were the main destinations of conveyor or transmission belt exports from Denmark, with a combined 47% share of total exports. These countries were followed by Italy, the Netherlands, the UK, Vietnam, Latvia, China, Poland, France, Chile and India, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +53.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for conveyor or transmission belt exported from Denmark were Germany ($X), Norway ($X) and Sweden ($X), together comprising 43% of total exports. These countries were followed by the Netherlands, Italy, the UK, France, Poland, Vietnam, Chile, China, India and Latvia, which together accounted for a further 31%.

Vietnam, with a CAGR of +50.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, rising by 2.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Denmark

In 2021, the amount of conveyor or transmission belts or belting imported into Denmark soared to X tons, with an increase of 60% against the year before. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.2% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. In general, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest conveyor or transmission belt supplier to Denmark, accounting for a 47% share of total imports. Moreover, conveyor or transmission belt imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was held by India (X tons), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+20.2% per year) and India (-0.5% per year).

In value terms, Germany ($X) constituted the largest supplier of conveyor or transmission belts or belting to Denmark, comprising 38% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports. It was followed by Belgium, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+9.7% per year) and Belgium (-10.7% per year).

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, waning by -17.5% against the previous year. In general, the import price showed a drastic downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 6.7% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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