Eastern Europe: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Eastern Europe

In 2021, the East European conveyor or transmission belt market decreased by -6.5% to $X, falling for the third year in a row after three years of growth. In general, consumption recorded a pronounced decline. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Eastern Europe

In value terms, conveyor or transmission belt production stood at $X in 2021 estimated in export price. Overall, production showed a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Eastern Europe

In 2021, shipments abroad of conveyor or transmission belts or belting increased by 5.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 18% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland represented the largest exporting country with an export of around X tons, which recorded 38% of total exports. Hungary (X tons) held the second position in the ranking, followed by Romania (X tons), Russia (X tons) and Slovakia (X tons). All these countries together held near 53% share of total exports. The following exporters - Bulgaria (X tons) and the Czech Republic (X tons) - together made up 7.3% of total exports.

Poland experienced a relatively flat trend pattern with regard to volume of exports of conveyor or transmission belts or belting. At the same time, Bulgaria (+10.9%), Russia (+3.0%) and the Czech Republic (+2.5%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +10.9% from 2012-2021. Hungary and Romania experienced a relatively flat trend pattern. By contrast, Slovakia (-8.7%) illustrated a downward trend over the same period. While the share of Russia (+3.8 p.p.) and Bulgaria (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Slovakia (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest conveyor or transmission belt supplying countries in Eastern Europe were Poland ($X), Romania ($X) and Hungary ($X), together comprising 77% of total exports. Russia, the Czech Republic, Slovakia and Bulgaria lagged somewhat behind, together comprising a further 20%.

In terms of the main exporting countries, Bulgaria, with a CAGR of +7.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, increasing by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 16%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.1%), while the other leaders experienced a decline in the export price figures.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Eastern Europe

In 2021, supplies from abroad of conveyor or transmission belts or belting was finally on the rise to reach X tons after two years of decline. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 18%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia represented the major importer of conveyor or transmission belts or belting in Eastern Europe, with the volume of imports finishing at X tons, which was near 39% of total imports in 2021. Poland (X tons) ranks second in terms of the total imports with a 17% share, followed by Ukraine (13%), the Czech Republic (7.5%), Belarus (5%), Hungary (4.9%) and Slovakia (4.7%).

Imports into Russia increased at an average annual rate of +1.3% from 2012 to 2021. At the same time, Hungary (+11.2%), Poland (+6.8%) and Slovakia (+2.0%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +11.2% from 2012-2021. By contrast, the Czech Republic (-3.7%), Ukraine (-3.7%) and Belarus (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland, Hungary and Russia increased by +7.1, +2.9 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest conveyor or transmission belt importing markets in Eastern Europe were Russia ($X), Poland ($X) and Ukraine ($X), together comprising 63% of total imports. These countries were followed by the Czech Republic, Hungary, Slovakia and Belarus, which together accounted for a further 24%.

In terms of the main importing countries, Hungary, with a CAGR of +7.8%, recorded 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

The import price in Eastern Europe stood at $X per ton in 2021, surging by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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