Iran: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Iran

The Iranian conveyor or transmission belt market was estimated at $X in 2021, rising by 9.7% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 decreased by -2.8% against 2019 indices. 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 Iran

In value terms, conveyor or transmission belt production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 50% against the previous year. Conveyor or transmission belt production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Iran

Conveyor or transmission belt exports from Iran surged to X tons in 2021, rising by 33% compared with the previous year's figure. Overall, exports saw buoyant growth. The growth pace was the most rapid in 2013 with an increase of 557%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports expanded to $X in 2021. In general, exports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 474%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tajikistan (X tons), Uzbekistan (X tons) and Oman (X tons) were the main destinations of conveyor or transmission belt exports from Iran, with a combined 81% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +365.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Tajikistan ($X) and Armenia ($X) appeared to be the largest markets for conveyor or transmission belt exported from Iran worldwide, together accounting for 78% of total exports.

Uzbekistan, with a CAGR of +395.9%, saw 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

The average conveyor or transmission belt export price stood at $X per ton in 2021, dropping by -21.1% against the previous year. In general, the export price showed a noticeable slump. The pace of growth was the most pronounced in 2017 an increase of 60% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Oman ($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 Afghanistan (+61.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Iran

After two years of growth, purchases abroad of conveyor or transmission belts or belting decreased by -4.2% to X tons in 2021. Overall, imports, however, showed a perceptible expansion. The growth pace was the most rapid in 2019 with an increase of 142% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports surged to $X in 2021. In general, imports, however, posted a measured expansion. The most prominent rate of growth was recorded in 2019 with an increase of 107%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of conveyor or transmission belt to Iran, with a 47% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.6% per year) and Germany (+36.6% per year).

In value terms, China ($X) constituted the largest supplier of conveyor or transmission belts or belting to Iran, comprising 33% of total imports. The second position in the ranking was held by Turkey ($X), with a 16% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+20.5% per year) and Germany (+18.7% per year).

Import Prices by Country

The average conveyor or transmission belt import price stood at $X per ton in 2021, increasing by 25% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood 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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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