Middle East: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in the Middle East

After three years of growth, the Middle Eastern conveyor or transmission belt market decreased by -21.8% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in the Middle East

In value terms, conveyor or transmission belt production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in the Middle East

Conveyor or transmission belt exports soared to X tons in 2021, picking up by 80% compared with 2020. Overall, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt exports soared to $X in 2021. In general, exports posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. 94% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating a 5.5% share of total exports.

Turkey was also the fastest-growing in terms of the conveyor or transmission belts or belting exports, with a CAGR of +14.3% from 2012 to 2021. At the same time, the United Arab Emirates (+5.8%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey increased by +6.6 percentage points.

In value terms, Turkey ($X) remains the largest conveyor or transmission belt supplier in the Middle East, comprising 86% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +11.0%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, waning by -2.2% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.1%).

Imports of Conveyor Or Transmission Belts Or Belting

Imports in the Middle East

In 2021, overseas purchases of conveyor or transmission belts or belting decreased by -0.1% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 35%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, conveyor or transmission belt imports reached $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 27% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Iran (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Turkey (X tons) represented roughly 78% of total imports in 2021. It was distantly followed by Iraq (X tons), committing a 6.2% share of total imports. The following importers - Jordan (X tons) and Oman (X tons) - each resulted at a 6.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +6.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 64% share of total imports. These countries were followed by Saudi Arabia, Iraq, Oman and Jordan, which together accounted for a further 23%.

Among the main importing countries, Iraq, with a CAGR of +9.8%, 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

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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