Russian Federation: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in the Russian Federation

The Russian conveyor or transmission belt market skyrocketed to $X in 2021, increasing by 21% against the previous year. In general, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.7% against 2019 indices. 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 the Russian Federation

In value terms, conveyor or transmission belt production surged to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 -14.3% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 98% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from the Russian Federation

In 2021, the amount of conveyor or transmission belts or belting exported from Russia declined to X tons, shrinking by -9.2% on 2020. Over the period under review, total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 53%. The exports peaked at X tons in 2020, and then shrank in the following year.

In value terms, conveyor or transmission belt exports reached $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 42% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Ukraine (X tons) were the main destinations of conveyor or transmission belt exports from Russia, together comprising 81% of total exports. These countries were followed by Kyrgyzstan, Uzbekistan, Poland and Armenia, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +177.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and Ukraine ($X) appeared to be the largest markets for conveyor or transmission belt exported from Russia worldwide, together accounting for 83% of total exports. These countries were followed by Kyrgyzstan, Poland, Uzbekistan and Armenia, which together accounted for a further 9.3%.

Poland, with a CAGR of +125.6%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, increasing by 19% against the previous year. Overall, the export price, however, continues to indicate a perceptible slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Armenia ($X per ton), while the average price for exports to Uzbekistan ($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 Belarus (+2.1%), while the prices for the other major destinations experienced a decline.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into the Russian Federation

In 2021, the amount of conveyor or transmission belts or belting imported into Russia rose significantly to X tons, surging by 8.5% against the previous year's figure. In general, total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 35%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, conveyor or transmission belt imports soared to $X in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of conveyor or transmission belt to Russia, with a 53% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), ninefold. The third position in this ranking was held by the UK (X tons), with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and the UK (-0.7% per year).

In value terms, the largest conveyor or transmission belt suppliers to Russia were China ($X), Germany ($X) and the UK ($X), with a combined 45% share of total imports. These countries were followed by Italy, Poland, Turkey, India, the Netherlands and Ukraine, which together accounted for a further 24%.

Turkey, with a CAGR of +18.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, with an increase of 9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 16% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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