India: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in India

After two years of decline, the Indian conveyor or transmission belt market increased by 2.6% to $X in 2021. Overall, consumption, however, continues to indicate a mild shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in India

In value terms, conveyor or transmission belt production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 4.3% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from India

In 2021, overseas shipments of conveyor or transmission belts or belting increased by 27% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt exports soared to $X in 2021. The total export value increased at an average annual rate of +3.2% 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

The United States (X tons) was the main destination for conveyor or transmission belt exports from India, accounting for a 29% share of total exports. Moreover, conveyor or transmission belt exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+4.7% per year) and Germany (+10.4% per year).

In value terms, the United States ($X) remains the key foreign market for conveyor or transmission belts or belting exports from India, comprising 28% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.8% per year) and the United Arab Emirates (+4.2% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, growing by 2.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 13% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Saudi Arabia ($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 Germany (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into India

In 2021, the amount of conveyor or transmission belts or belting imported into India surged to X tons, jumping by 23% on 2020 figures. Overall, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.1% 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 +71.7% against 2014 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 23% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, conveyor or transmission belt imports surged to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest conveyor or transmission belt supplier to India, with a 52% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+18.0% per year) and the United States (-6.6% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) were the largest conveyor or transmission belt suppliers to India, together comprising 53% of total imports. Belgium, Italy, the United States, Thailand, the Netherlands, Australia, South Korea, Spain, Malaysia and Canada lagged somewhat behind, together accounting for a further 29%.

Belgium, with a CAGR of +24.4%, saw the highest growth rate of the value of imports, among the main suppliers 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 13% against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 an increase of 13%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :