Pakistan: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Pakistan

The Pakistani conveyor or transmission belt market shrank to $X in 2021, which is down by -14% against the previous year. Over the period under review, consumption continues to indicate a noticeable setback. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Pakistan

In value terms, conveyor or transmission belt production shrank markedly to $X in 2021 estimated in export price. In general, production showed a pronounced decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 73% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Pakistan

In 2021, shipments abroad of conveyor or transmission belts or belting decreased by -7.3% to X tons, falling for the third consecutive year after two years of growth. In general, exports recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 with an increase of 56%. The exports peaked 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 fell dramatically to $X in 2021. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2017 with an increase of 69% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons), Afghanistan (X tons) and Qatar (X tons) were the main destinations of conveyor or transmission belt exports from Pakistan, together accounting for 57% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +34.7%), while the other leaders experienced more modest paces of growth.

In value terms, Oman ($X) emerged as the key foreign market for conveyor or transmission belts or belting exports from Pakistan, comprising 46% of total exports. The second position in the ranking was held by Afghanistan ($X), with a 14% share of total exports. It was followed by Qatar, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (-28.0% per year) and Qatar (+28.4% 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 -23.1% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 57% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

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 Oman ($X per ton), while the average price for exports to Mali ($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 Djibouti (-1.7%), while the prices for the other major destinations experienced a decline.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Pakistan

In 2021, the amount of conveyor or transmission belts or belting imported into Pakistan expanded markedly to X tons, growing by 5.8% compared with the previous year's figure. Over the period under review, imports, however, showed a perceptible descent. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, conveyor or transmission belt imports soared to $X in 2021. In general, total imports indicated a noticeable increase 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. The pace of growth was the most pronounced in 2014 when imports increased by 31%. Imports peaked at $X in 2018; however, from 2019 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 Pakistan, with a 63% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.6% per year) and the United Arab Emirates (+18.3% per year).

In value terms, China ($X) constituted the largest supplier of conveyor or transmission belts or belting to Pakistan, comprising 49% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.6% per year) and the United Arab Emirates (+18.2% per year).

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, jumping by 20% against the previous year. Over the period under review, the import price showed a strong increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 71%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a 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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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