Luxembourg: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Luxembourg

The Luxembourg conveyor or transmission belt market reached $X in 2021, increasing by 8.5% against the previous year. In general, consumption saw a relatively flat trend pattern. Conveyor or transmission belt consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Luxembourg

In value terms, conveyor or transmission belt production amounted to $X in 2021 estimated in export price. In general, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 114%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Luxembourg

Conveyor or transmission belt exports from Luxembourg soared to X tons in 2021, jumping by 73% against the year before. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 123% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports soared to $X in 2021. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 62%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

France (X tons) was the main destination for conveyor or transmission belt exports from Luxembourg, accounting for a 63% share of total exports. Moreover, conveyor or transmission belt exports to France exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+25.8% per year) and Belgium (-1.0% per year).

In value terms, France ($X) remains the key foreign market for conveyor or transmission belts or belting exports from Luxembourg, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Belgium, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to France totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+14.9% per year) and Belgium (+4.6% per year).

Export Prices by Country

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, with a decrease of -18% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 51% against the previous year. The export price peaked at $X per ton in 2020, and then shrank notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to France ($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 France (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Luxembourg

In 2021, supplies from abroad of conveyor or transmission belts or belting increased by 13% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 68%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, conveyor or transmission belt imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 20% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of conveyor or transmission belt imports to Luxembourg, together accounting for 77% of total imports. The Netherlands, Italy, the United States and Spain lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +60.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt suppliers to Luxembourg were Belgium ($X), Germany ($X) and France ($X), together comprising 77% of total imports. The Netherlands, the United States, Spain and Italy lagged somewhat behind, together comprising a further 16%.

Among the main suppliers, Spain, with a CAGR of +56.1%, saw the highest growth rate of 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 -4.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 63%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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