Ireland: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Ireland

The Irish conveyor or transmission belt market skyrocketed to $X in 2021, rising by 82% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Conveyor Or Transmission Belts Or Belting in Ireland

In value terms, conveyor or transmission belt production skyrocketed to $X in 2021 estimated in export price. In general, production showed a prominent expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Ireland

In 2021, conveyor or transmission belt exports from Ireland skyrocketed to X tons, jumping by 36% compared with 2020 figures. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 131% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. Overall, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 92%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for conveyor or transmission belt exports from Ireland, accounting for a 32% share of total exports. Moreover, conveyor or transmission belt exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+18.1% per year) and Poland (+37.2% per year).

In value terms, Germany ($X) remains the key foreign market for conveyor or transmission belts or belting exports from Ireland, comprising 47% of total exports. The second position in the ranking was taken by Belgium ($X), with a 5.6% share of total exports. It was followed by Spain, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+28.5% per year) and Spain (+7.5% per year).

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2015 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United States ($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 Russia (+12.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Ireland

In 2021, the amount of conveyor or transmission belts or belting imported into Ireland surged to X tons, rising by 54% against the previous year. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, 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.

In value terms, conveyor or transmission belt imports surged to $X in 2021. The total import value increased at an average annual rate of +6.5% 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

China (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of conveyor or transmission belt imports to Ireland, with a combined 64% share of total imports. These countries were followed by the UK, Germany, Luxembourg, Turkey and Belgium, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +18,544.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and the Netherlands ($X) were the largest conveyor or transmission belt suppliers to Ireland, with a combined 57% share of total imports. Belgium, Luxembourg, India, China and Turkey lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Luxembourg, with a CAGR of +21,975.8%, saw 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

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, dropping by -8.4% against the previous year. Overall, the import price showed a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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