Southern Asia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Southern Asia

After three years of decline, the South Asian conveyor or transmission belt market increased by 3.4% to $X in 2021. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Southern Asia

In value terms, conveyor or transmission belt production totaled $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 17% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of conveyor or transmission belts or belting, when their volume increased by 27% to X tons. The total export volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) represented the major exporter of conveyor or transmission belts or belting in Southern Asia, constituting 100% of total export.

India was also the fastest-growing in terms of the conveyor or transmission belts or belting exports, with a CAGR of +3.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest conveyor or transmission belt supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India totaled +3.2%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, rising by 2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 13%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +0.1% per year.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Southern Asia

Conveyor or transmission belt imports skyrocketed to X tons in 2021, with an increase of 20% on the year before. The total import volume 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 most prominent rate of growth was recorded in 2019 with an increase of 20%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the main importer of conveyor or transmission belts or belting in Southern Asia, with the volume of imports finishing at X tons, which was approx. 69% of total imports in 2021. Bangladesh (X tons) held the second position in the ranking, followed by Pakistan (X tons) and Sri Lanka (X tons). All these countries together held near 27% share of total imports. Nepal (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Nepal (+19.7%), Bangladesh (+6.1%) and Sri Lanka (+1.5%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +19.7% from 2012-2021. By contrast, Pakistan (-4.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bangladesh, Nepal and India increased by +3.7, +2.6 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported conveyor or transmission belts or belting in Southern Asia, comprising 66% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total imports. It was followed by Pakistan, with a 12% share.

In India, conveyor or transmission belt imports expanded at an average annual rate of +1.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+5.4% per year) and Pakistan (+4.0% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, growing by 13% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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