Saudi Arabia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Saudi Arabia

The Saudi conveyor or transmission belt market declined notably to $X in 2021, shrinking by -25.3% against the previous year. Over the period under review, consumption recorded a perceptible setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Saudi Arabia

In value terms, conveyor or transmission belt production dropped remarkably to $X in 2021 estimated in export price. Overall, production showed a sharp setback. The pace of growth appeared the most rapid in 2020 with an increase of 8,020%. Conveyor or transmission belt production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Saudi Arabia

In 2021, the amount of conveyor or transmission belts or belting exported from Saudi Arabia skyrocketed to X tons, with an increase of 812% compared with the previous year. Over the period under review, exports posted significant growth. 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. Overall, exports showed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for conveyor or transmission belt exports from Saudi Arabia, accounting for a 93% share of total exports. Moreover, conveyor or transmission belt exports to Spain exceeded the volume sent to the second major destination, Jordan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at +122.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+51.9% per year) and France (-43.5% per year).

In value terms, Spain ($X) remains the key foreign market for conveyor or transmission belts or belting exports from Saudi Arabia, comprising 72% of total exports. The second position in the ranking was taken by Jordan ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+32.4% per year) and France (-30.5% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, declining by -14.2% against the previous year. Overall, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2014 when the average export price increased by 14%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($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 (+23.2%), while the prices for the other major destinations experienced a decline.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Saudi Arabia

In 2021, overseas purchases of conveyor or transmission belts or belting decreased by -29.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a noticeable setback. The growth pace was the most rapid in 2019 with an increase of 52% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, conveyor or transmission belt imports reduced dramatically to $X in 2021. Overall, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 75% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest conveyor or transmission belt supplier to Saudi Arabia, accounting for a 51% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.7% per year) and the Netherlands (+1.9% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest conveyor or transmission belt suppliers to Saudi Arabia, with a combined 41% share of total imports. These countries were followed by India, the Netherlands, Thailand, Italy, the United States, Indonesia, South Africa, Vietnam and Taiwan (Chinese), which together accounted for a further 36%.

Among the main suppliers, South Africa, with a CAGR of +15.1%, 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 average conveyor or transmission belt import price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Taiwan (Chinese) (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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